The crowdfunding campaign aims to raise between €1.5m and € 2.7m to support the purchase of land and the construction of new housing at the Op der Pompel development in Mertert, near the Luxembourg-Germany border. Spearheaded by Riman RE Solutions, the project entails the building of 12 duplex apartments across three residences.
Beebonds secured an impressive €1.4m in just two hours after launching the project on their crowdfunding platform. “It’s a real success,” said an elated Duysan. At the time of writing, the bond--which offers an interest rate of 9% over two-and-a-half years--was fully subscribed.
Founded by former stockbroker Joël Duysan, BeeBonds aims to provide individuals with limited savings the opportunity to participate in the real estate market without the need to purchase a property. Through the crowdfunding platform, investors can contribute as little as €500 and receive returns of 8% to 9% on their bonds. The funds raised are subsequently lent to developers to finance their various real estate projects.
New Luxembourg office planned
Op der Pompel is BeeBonds’ second project in Luxembourg in the space of six months. In February, the crowdfunding platform raised €3m to . The company’s foray into Luxembourg marks an exciting expansion. Duysan expressed his intentions to establish a physical presence in Luxembourg, acting as a vital link between promoters and investors. By the end of the year, BeeBonds plans to establish an office in the grand duchy, affirming their commitment to the Luxembourg market.
But Duysan’s ambitions extend beyond revolutionising crowdfunding in the real estate sector. He envisions developing a market for investment-grade real estate bonds with substantially better yields than traditional bonds. “The current bond market offers minimal returns. My goal is to provide new real estate bonds with attractive yields. We want to become the go-to stock market for private bonds in real estate residential financing,” he said.
Furthermore, BeeBonds aspires to replicate its successful model in supporting amateur athletes. Duysan said he recognises the financial hurdles parents face in trying to finance their children’s sporting careers and intends to adopt the crowdfunding model to provide funding for amateur athletes in sports such as golf, tennis and football.