Beeyoot to Establish Consolidated Property Pool

Published April 1st, 2010 - 02:35 GMT

Beeyoot.Com, a growing online real estate entity, is proposing alliances with UAE based developers to establish a consolidated property pool to support individual investors.

According to the proposal, namely Developers Engaging Owners (DEO), the partnerships will be inspired by placing owners and investors of property ïrst and demonstrate genuine social responsibility at this uneasy time.

Developers with a delayed or stalled developments anywhere in UAE can participate by consolidating the project into one pool to be presented as a wholesale portfolio to institutional investors. The effort is conceived to protect individual owners by creating a unique opportunity for REITs (Real Estate Investment Trusts) focused on large scale acquisition of distressed real estate.

Beeyoot's CEO Hashim Ahmed says: "We are forming a qualitatively new type of real estate conï‚uence; by associating owners of an otherwise stalled project, we thereby create a portfolio for relatively big funds to swiftly assess off-plan property as a medium- to-long term investment opportunity".

Property owners are also invited to form an association through Beeyoot.com's platform. "When sellers can act collectively as a group, we can process their concerns in more timely ways. Such synergetic partnerships of a developer and its investors may also create a significant market dynamic. It will be good for everyone if sellers are capable of presenting a consolidated proposal. This is how we perceive a notion of social responsibility in action".


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