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The founders of both companies bring over 70 years of combined experience in real estate
August 20, 2024 | Staff Reporter | UAE | PropTech
In a strategic move aimed at revolutionising UAE’s real estate investment landscape, Dubai-based Meteora Developers has announced the multi-million dollar acquisition deal of Maisour, a DIFC-based property crowdfunding platform.
Maisour's innovative model of digital fractional ownership has made it possible for people from around the world to invest in Dubai properties with as little as AED500. This acquisition aligns with both companies’ visions to democratise real estate investment and capitalise on Dubai’s booming property market.
Meteora Developers pointed out that this acquisition allows it to integrate its vast expertise and stellar reputation in the real estate market with Maisour’s tech-driven platform, offering a broader and more diverse range of real estate investment opportunities.
By lowering the initial investment barrier, and enabling ownership seamlessly through mobile apps the platform will now attract a larger pool of global investors, especially those who previously found the initial cash outlay restrictive, it stated.
"Through this acquisition, we’re taking significant strides toward making Dubai real estate accessible to billions of potential investors worldwide. With an entry point as low as AED500, we’re confident that Dubai’s ready properties will witness an unprecedented surge in demand," remarked Praveen Sharma, the Founder and CEO of Meteora Developers.
The founders of both Maisour and Meteora bring over 70 years of combined experience in real estate, investment banking, technology, and marketing. The acquisition not only brings together their collective expertise but also paves the way for rapid expansion into new markets.
"Through this acquisition, we’re taking significant strides toward making Dubai real estate accessible to billions of potential investors worldwide. With an entry point as low as AED500, we’re confident that Dubai’s ready properties will witness an unprecedented surge in demand."
Praveen Sharma, Founder and CEO of Meteora Developers
Maisour’s digital platform, which has already disrupted the traditional real estate investment model, is now poised for exponential growth with the backing of Meteora Developers, stated Sharma. "Our partnership with Maisour is a perfect synergy of technology and real estate expertise. This acquisition will allow us to offer unparalleled opportunities to investors worldwide while continuing to enhance Dubai’s reputation as a global real estate hub," said Sharma, who had co-founded Meteora Developers with his Jordanian partner Omar Al Amour early last year before going on to carve a niche for themselves in the real estate market, selling out their first two projects, The East Crest and 7 Park Central, within days of their unveiling in Q1 2023.
Mohamed Sabry, Senior Executive Officer of Maisour, said this acquisition marks a new chapter of growth and innovation for the group. “Our mission of democratising real estate investment is now bolstered by the vast resources, connections, and market insights that Meteora Developers bring to the table. This will allow us to better serve our investors while continuing to innovate," he stated.
The full acquisition of Maisour by Meteora Developers signals a commitment to providing top-tier real estate opportunities and enhancing the platform’s offerings. "With Meteora’s support, Maisour will be able to rapidly scale and introduce new features such as a secondary market, AI-driven reinvestment strategies, and even explore expansion into other regional markets like KSA, Egypt, India, and Pakistan," he added.
