In a groundbreaking move, Visa, Checkout.com, and real estate investment platform Stake, a pioneering digital real estate investment platform in the MENA region, have joined forces to unveil an unprecedented cross-border payment solution that is revolutionizing the UAE real estate market.
SUMMARY
– This provides opportunities for both local and global investors, creating an entry point into the flourishing real estate market of the UAE.
– Facilitates instantaneous and economical international transactions, revolutionizing the funding of cross-border accounts to ensure improved accessibility.
The strategic partnership unites the innovative approach of Visa Direct to provide easy access for overseas investors to fund their MENA Stake accounts and invest in the prime rental real estate market of the Emirates. The payment solution enables cross-border transactions that were never possible before, thus opening up a world full of digital investment opportunities, democratizing real estate investments, and attracting foreign investors to invest from all around the globe.
Salima Gutieva, Visa’s Vice President and Country Manager for the UAE, hailed the partnership as a transformative milestone. “This is a game-changer for real estate investing,” Gutieva declared. “Our cross-border account funding solution simplifies international transactions, making it faster, easier, and more secure for individuals and businesses to invest in the UAE’s vibrant property sector from anywhere in the world.”
Remo Giovanni Abbondandolo, General Manager at Checkout.com, MENA, emphasized the company’s commitment to innovation and excellence. “Flexibility and performance are our watchwords,” Abbondandolo said. “We are proud to implement Visa’s groundbreaking product launch, providing our merchants with enhanced acceptance rates, reduced costs, and maximized performance.”
Manar Mahmassani, Co-founder and Co-CEO of Stake, shared the company’s vision to make real estate investing accessible to all. “We believe that real estate ownership should not be confined by borders,” Mahmassani stated. “With our partnership with Visa and Checkout.com, we are not only forging strong global connections but also introducing a first-of-its-kind innovation to the MENA region. This is a pivotal step towards our goal of creating a truly borderless real estate investment landscape.”
Seamless and Secure Transactions: The partnership leverages Visa’s robust global network and advanced security protocols to ensure fast, reliable, and protected cross-border payments.
Reduced Costs and Time: By eliminating intermediary banks and optimizing payment routes, the solution significantly reduces transaction costs and processing time, benefiting both investors and real estate developers.
Increased Transparency: The real-time tracking and reporting capabilities provide investors with greater visibility and control over their funds, fostering trust and transparency in the investment process.
Access to Prime Properties: International investors can now easily invest in high-yield, prime rental properties in the UAE, a region renowned for its strong economic fundamentals and stable real estate market.
Diversification of Portfolio: The cross-border payment solution enables investors to diversify their real estate portfolios by investing in a foreign market, mitigating risks and maximizing returns.
Enhanced Investment Returns: The UAE real estate market offers attractive rental yields and potential capital appreciation, providing investors with the opportunity to generate substantial returns on their investments.
The cross-border payment innovation is expected to have a transformative impact on the UAE real estate market:
Increased Foreign Investment: The solution will attract a wave of international investors, thus creating demand for the properties and stimulating economic growth.
Enhanced Market Liquidity: Increased investment activity will improve market liquidity, making it easier for investors to buy and sell properties.
Rising Property Values: The inflow of foreign capital will appreciate property prices which will work in favor of the investors and developers.
The ground-breaking collaboration between Visa, Checkout.com, and Stake is transforming the UAE real estate market into a borderless payment system that kills the barriers to cross-border payments. This groundbreaking approach creates global investment channels, which allows international investors to reap benefits from this lucrative and fruitful sector in the Emirates. Utilizing the competitive advantages, benefits for global investors, and impacts on the real estate market in UAE, this partnership is ready to change the industry and bring a new age of global real estate investment.
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By Proptechbuzz
By Ravi Kumar
