xstate, a start-up out of Islamabad, is creating a lot of noise in the Pakistani start-up community these days. Their innovative product has the potential to revolutionize real estate investments in Pakistan. With a small team of 14 people and starting operations in January 2021, xstate is already creating a mark in the real estate industry and launched a great product.
Asif Khan, the co-founder of xstate, already has three startups under his belt. However, he always wanted to align his passion for technology and interest in real estate. This fusion gave birth to the idea of xstate. An equity-based crowdfunding platform that allows everyone to invest in premium real estate. He boot-strapped the project and made xstate operational within a few months.
“We want to make real estate investments accessible for everyone no matter where they are and what their budget is. Using the concept of tokenization, we are able to do just that, providing the opportunity of fractional investments like cryptocurrencies while providing historically consistent high returns of the real estate industry.”
xstate is a technology company first and is developing its full-stack completely in-house. This ensures robustness and allows for quick implementation of new features and regular improvements in the user experience. The xstate platform is completely transparent and also fully scalable. The first property listing on their platform saw investments from 86 Pakistanis residing in 15 different countries within a span of a month. Keeping true to their aim of opening real estate investments opportunities for everyone, their youngest investor is a 19-year-old while 70% of the investment consisted of amounts less than PKR 50,000 each. An excellent validation of a very interesting idea.
In addition to the excellent technologies deployed in the product, another thing that sets them apart from the competition is their emphasis on safe and shariah-compliant investments. Only those properties are listed on the platform which are completely owned by xstate. There is no third party involved between xstate and the investor during the whole duration of the project.
“Our aim is to be the most trusted and customer-friendly investment platform in Pakistan, inshaAllah. Full compliance with shariah is the cornerstone of this organization and customer satisfaction is our top priority” Altamash Janjua, the other co-founder, while discussing the philosophy behind the concept.
After the successful closing of their first listing with 86 investors, they have set a bigger target to prove the immense potential of fractional real estate investments. The current listing is one of the most beautiful pieces of real estate in Islamabad. Only time will tell how they fare in the real estate industry, but at the moment they are hitting all the right notes and have created an excellent product. Seeing is believing. Do visit xstate.com and try their product.
