David Bugden
Dubai (ARE)
Role(s):
Founder/Owner/Principal
Mystrata Middle East
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Startup
Location:
Dubai
Industry:
Software
Year Founded:
2008
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
We are an innovative technology company with offices in Dubai, United Arab Emirates, and Brisbane, Australia.
We specialise in online software for the international strata management industry. New strata laws have recently been introduced in Dubai and will soon be introduced in Abu Dhabi. Due to a presence in the region for over 3 years, the Company is already the leading provider of software in this new industry and is well placed to gain significant market share.
The Company’s products include a world-first in online real estate portals for iconic projects such as the one developed for the Burj Khalifa – see (URL removed)
The Company’s business model is based on an annual recurring software license fee, calculated on a “per unit” basis (i.e. residential apartments, villas, townhouses, hotel apartments, commercial and retail units). There are currently 150,000 strata units in Dubai, with this number growing to over 400,000 in Dubai and Abu Dhabi within 5 years. The Dubai Company is estimated to secure at least 40% market share in the UAE within a 5-year timeframe due to its first-to-market advantage and its current Middle Eastern clientele, which includes Emaar. The Company’s clients are generally long term whose portfolios are estimated to grow exponentially over the coming years. The business is estimated to earn margins in excess of 40% to 50% once it reaches break-even due to the mature state of its products.
The investment in the Dubai Company is made even more attractive by the prospect of online advertising revenue and direct marketing of a wide range of goods and services via the Company’s innovative “MyCommunity” web portals.
More details are available in a Private Placement Memorandum.