Real estate crowd-funding MoU signed at Cityscape

The Department of Urban Planning and Municipalities has signed a memorandum of understanding (MoU) with Smart Crowd Holdings, a real estate crowdfunding platform, to encourage the private sector to participate in Abu Dhabi’s real estate market at Cityscape Abu Dhabi. The agreement was signed by Mohamed Al Khadar Al Ahmed on behalf of Mubarak Obaid Al Dhaheri, Undersecretary of the Department of Urban Planning and Municipalities and SiddiqFarid, chief executive officer and founder of Smart Crowd Holdings. The MoU will allow both parties to explore the possibility of implementing a similar model of collective or joint ownership in the Emirate of Abu Dhabi, and develop proposals on the implementation of such a model in accordance with the laws and legislation in the Emirate.