PRYPCO Blocks Completes Funding For The First Property On Its Platform!
PRYPCO Blocks, the Dubai-based real estate fractional ownership platform, has marked a historic milestone by successfully funding its first property located in Bellevue Towers, Downtown Dubai.
The successful funding of Bellevue Towers, located in Downtown Dubai, underscores the remarkable confidence investors have placed in both the innovative concept of PRYPCO Blocks and the Dubai real estate market. A total of 209 investors from over 40 nationalities have so far invested in the property, with an average investment of AED 6,220.
Founded by Amira Sajwani, PRYPCO Blocks has made Dubai’s lucrative real estate market accessible to all. The platform divides an entire property into small, equal fractions, called ‘Blocks’, to enable real estate investments starting from only AED 2,000.
The platform takes care of all the hassles, so the investors don’t have to worry about; identifying a property, a heavy downpayment, paperwork, maintenance, or renting the property.
To add to investor comfort, PRYPCO Blocks is regulated by the Dubai Financial Services Authority (DFSA) and adheres to its strict licensing and client money provisions. The investor’s assets are safeguarded through a dedicated Special Purpose Vehicle (SPV), ensuring legal separation from the operational activities of PRYPCO Blocks.
Handpicked by PRYPCO Blocks’ seasoned experts, the 1-bedroom apartment in Bellevue Towers stood out for its promising potential. The property offers an impressive projected annual return of up to 8.13% annually and an expected return on investment of up to 42% over the holding period.
“I firmly believe that PRYPCO Blocks is poised to become the preferred platform for anyone wanting to invest in the real estate sector,” says Amira. “We are now in the process of setting up an SPV and issuing the individual share certificates to the investors. We expect to pay out the first rental income by the end of May 2024 and are also excited to share that our second property, located in Business Bay, Dubai, is also nearing 100% funding,” she added.
As Dubai’s real estate market continues to grow and break records, PRYPCO Blocks offers a seamless gateway to invest in the best rental properties and earn attractive monthly rental income.
