SmartCrowd, an innovative investment app, is revolutionizing the real estate market by providing individuals with the opportunity to invest in properties with minimal capital. Originally launched in Dubai, SmartCrowd has achieved significant success and is now expanding its services to Pakistan, following the country’s removal from the Financial Action Task Force (FATF) grey list. With its user-friendly platform and focus on fractional ownership, SmartCrowd aims to democratize real estate investment, enabling both Pakistani residents and the diaspora to participate in the lucrative property market.
The Rise of SmartCrowd:
SmartCrowd was founded by Siddiq Farid, a visionary entrepreneur who recognized the untapped potential in the real estate sector. Inspired by the success of initiatives like Roshan Digital Accounts, which facilitated banking solutions for Pakistanis abroad, Farid saw an opportunity to provide a trusted platform for real estate investments in Pakistan. The app initially allowed users to invest in Dubai properties with as little as AED500, offering rental yields as a source of income. However, the focus in Pakistan will be on capital appreciation, catering to the preferences of the local market.
Benefits of SmartCrowd:
SmartCrowd provides an accessible entry point to the real estate market, allowing individuals to invest in properties they would have otherwise been priced out of. By conducting due diligence on properties and facilitating fractional ownership, the app enables users to own a share of the real estate. This inclusive approach brings together investors from various income brackets, fostering equality and leveling the playing field. The potential for secondary sources of income and the opportunity to diversify wealth also make SmartCrowd an appealing option for young, digitally savvy Pakistanis.
Expanding to Pakistan:
With Pakistan’s removal from the FATF grey list and the subsequent easing of money movement, SmartCrowd is now preparing to launch its services in the country. By linking the platform to the Roshan Digital Account, SmartCrowd aims to attract the Pakistani diaspora to invest in their home country. The platform will enable users to invest in properties from anywhere in the world, ensuring a seamless and transparent investment experience. Additionally, SmartCrowd is working closely with the Securities and Exchange Commission of Pakistan (SECP) to comply with regulations and ensure a regulated platform for investors.
Dubai’s Appeal to Pakistani Investors:
SmartCrowd’s expansion to Pakistan also opens up opportunities for Pakistani residents to invest in Dubai’s booming real estate market. Pakistani expats have been investing heavily in Dubai, and SmartCrowd aims to capitalize on this trend by providing a trusted platform for property investments. The benefits of exposure to a dollar-denominated economy, diversification of wealth, and the prestige associated with owning an international property portfolio make Dubai an attractive investment destination for Pakistanis.
SmartCrowd acknowledges the challenges it may face in the Pakistani market, such as the need for proper documentation and ownership records to address potential legal issues. However, the company remains optimistic due to the Pakistani government’s focus on entrepreneurship and technological development. By working with local partners and regulatory authorities, SmartCrowd aims to navigate these challenges and establish itself as a reputable platform for real estate investments in Pakistan.
SmartCrowd’s expansion into Pakistan marks a significant milestone for the app and opens up exciting investment opportunities for both Pakistani residents and the diaspora. With its user-friendly platform, fractional ownership model, and commitment to regulation, SmartCrowd is set to revolutionize the real estate investment landscape in Pakistan. By providing access to the lucrative Dubai property market and offering a trusted platform for investments, SmartCrowd aims to unlock the wealth potential of young, digitally savvy Pakistanis and contribute to the country’s economic growth.