Quote from: Joel_Jantsen on September 09, 2024, 07:15:37 PM

This is a very flawed way to own a real estate. Can a property be legally owned by 8 people at the same time? There will be a lot of clauses and preferences as every owner would want things differently. Even if you own a very premium property, you will be dissatisfied emotionally as you won't have any real access to it. People buying it for investment purposes rather invest in something else considering the dividends that come off rent, Airbnb would still be divided amongst 8 people which is comparatively less.

On an unrelated note: You don't need a team of 12 highly experienced people to scale something like this. You've a head of tech for what? A single-page website? Some investor behind the screen is bleeding so much money unnecessary Cry

Hi Joel,

Thank you for sharing your thoughts. I appreciate your concerns and would like to address them point by point:

Legal ownership: Yes, a property can indeed be legally owned by multiple people simultaneously. This is a well-established concept in real estate law, known as co-ownership or fractional ownership. Each owner's name is on the title deed, making it a legitimate and legally binding arrangement.
Clauses and preferences: All co-owners sign the same agreement, ensuring equal rights and responsibilities. We've designed our system to be fair and democratic. Any changes or decisions are made through a voting process, preventing any single owner from having undue influence.
Access and emotional satisfaction: With Shard, you get 44 days of access per year for each 1/8 share. This allows for significant personal use, especially for a holiday home. Many owners find this arrangement ideal, as it provides the benefits of ownership without the full-time responsibilities and costs.
Investment returns: The dividend yield is proportional to your ownership share. If you own 1/8 of the property, you receive 1/8 of the rental income. This is equivalent to the yield you'd get if you owned the entire property, just scaled to your investment. The advantage is that you can access premium properties at a fraction of the full purchase price.
Technology and team: Our platform goes beyond a simple website. We have a comprehensive app for booking stays, managing finances, and even listing your share for sale. The tech team ensures smooth operations, security, and continuous improvement of our digital services.
Accessibility: Starting at 240,000 AED, Shard makes premium holiday home ownership more accessible than traditional models. This allows investors to diversify their real estate portfolio or enter the market at a lower price point.

We believe our model offers a unique and valuable opportunity in Dubai's real estate market, combining the benefits of ownership with professional management and increased affordability.

I'm happy to discuss any other concerns or questions you may have. Feel free to ask for more details on any aspect of our service