Maskan — Fractional Property Ownership & Short-Let Management in the UAE

Business Plan

Executive Summary

Maskan is a UAE-regulated fractional real-estate investment platform that allows retail and semi-professional investors to co-own shares of professionally operated Dubai holiday-home (short-let) apartments. Investors buy fractional stakes from as little as AED 5,000, receive proportional net rental income monthly, and can exit via a secondary marketplace or asset sale.

Dubai's short-term rental market generates gross yields of ~10–14% on well-located units, roughly double traditional long-let yields, yet access has been restricted to high-net-worth buyers able to deploy AED 800,000+ per unit. Maskan removes that barrier.

The business earns revenue through three streams: a 2–3% acquisition fee on property purchase price, a 20% gross-revenue management fee for holiday-home operations, and a 20% performance fee on net income exceeding a hurdle yield. Year-1 target revenue is ~AED 3.2 million, scaling to ~AED 14.5 million by Year 3 as the portfolio reaches ~35 managed units.

Maskan operates through a DFSA-recognised SPV structure (or equivalent ADGM framework), with each property held in a dedicated Special Purpose Vehicle. Holiday-home licences are obtained from the Dubai Department of Economy and Tourism (DET). All transactions are filed with the Dubai Land Department (DLD) and comply with RERA investor-protection regulations.

The founding team combines real-estate investment, PropTech product, and regulatory expertise. Maskan is raising an AED 8 million seed round to fund technology buildout, initial property acquisitions (co-investment alongside investors), regulatory licensing, and 18 months of operations.

> Mission: Make Dubai real-estate income as accessible as buying a stock — fractional, transparent, and fully managed.

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Company Description

Legal name: Maskan Real Estate Technology LLC (operating entity) + Maskan SPV Co. (holding structure)

Founded: 2024, Dubai, UAE

Headquarters: Dubai International Financial Centre (DIFC) or Al Quoz creative hub (operational office)

Maskan is structured in two legal layers: Operating company — Maskan Real Estate Technology LLC, holding the platform, brand, and management contracts. Licensed under the DET as a Holiday Home Operator and registered with RERA as a property manager. SPV layer — Each acquired property is held in a standalone SPV. Investor fractional ownership is represented by equity shares in the relevant SPV, providing legal segregation of assets and limiting cross-property liability.

This dual structure mirrors approaches used successfully in regulated markets (e.g., Stake in the UAE, Arrived in the US) and aligns with guidance from the Dubai Financial Services Authority (DFSA) and Securities and Commodities Authority (SCA) on tokenised or fractionated real-estate offerings.

Maskan's core values: • Transparency — investors see gross rents, expenses, and net distributions in real time via a dashboard. • Regulatory integrity — all properties are DLD-registered; all investor agreements are formally documented. • Performance — properties are selected, furnished, and managed to maximise short-let occupancy and yield, not just to grow AUM.

The company targets a portfolio of 10 properties within 12 months of launch, each with an average acquisition price of ~AED 1.2 million, totalling ~AED 12 million in assets under management at Year-1 exit.

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Problem & Customer

The problem has two sides.

For investors: Dubai real-estate is one of the world's most-desired asset classes, but a minimum cheque of AED 700,000–2,000,000 locks out the majority of potential buyers. Even those who can afford one unit bear 100% concentration risk, handle maintenance personally, and must navigate the complexity of DET holiday-home licensing, Airbnb/Booking.com operations, and guest management. Traditional long-let yields of ~5–6% net rarely justify the illiquidity.

For the market: Dubai had ~24,000 licensed holiday-home units as of 2023 (DET data). P