Tuesday, July 23, 2024

Crowdfunding platform eyes 8 hotel projects worth 150 million pesos

The crowdfunded real estate company Monific will invest 150 million pesos (US $7.5 million) in eight new hotel projects at Magical Town and beach destinations this year.

Potential locations include Tulum and Cozumel in Quintana Roo, San Miguel de Allende, Guanajuato, and Puerto Escondido, Oaxaca.

The company’s investor base reached 10,000 in recent weeks, and representatives say they feel confident to bet on increasing their investor base further.

“In 2020 alone we funded over 40 million pesos for four projects. The idea is to reach a fund of 150 million for 2021 and have seven or eight new opportunities,” they said.

They added that the pandemic did not have a damagingly negative affect on the company’s earnings for their four boutique hotels in Tulum, Bacalar and Playa del Carmen, Quintana Roo, with many visitors staying for months due to lockdown restrictions.

Monific’s platform allows investors to invest from 1,000 pesos (US $50) to 1.5 million (US $75,000), 5% of the total value of a property, and earn yields between 11% and 16% per year.

Source: Real Estate Market (sp)

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