Dubai: Evarei Management LLC (“Evarei”) today announced it has secured the rights to acquire its first US$ 20 Million real estate portfolio in Dubai.

The portfolio comprises complete buildings totalling almost 700 apartments across two new up-and-coming master communities in Dubai involving exclusively asset-managed units. These fully leased, high-quality residential serviced apartment buildings involve a range of leased, asset-managed and owned spaces. Evareium intends to take a 100 percent interest in the operator of these assets through a leveraged buy-out of the asset owner’s holding company during the second quarter of2018.

Evareium is a new, international investment fund initiative launched in conjunction with lead adviser — Evarei Management LLC of the UAE. A blockchain and smart contract solution for the digitalized real estate investment generation, Evareium allows instant online digitalized investment into managed real estate assets through a ‘tokenized’ fund, which aims to create liquidity by registering on multiple digital exchanges over the course of 2018.

Speaking from Dubai, Stefan Hickmott, Evarei’s CEO, said: “This acquisition announcement represents a significant opportunity to be one of the first, landmark investment projects of Evareium. By securing the rights to acquire this excellent portfolio of well-performing assets comprising high-quality complete buildings, Evareium is able to bring this rare opportunity to secure expected strong returns to its stakeholders.

He added that regardless of the overall prognosis for regional real estate, the quality furnished, serviced apartments is a booming sector – a natural go-to product for companies and newcomers in Dubai, providing an ultra-convenient, provisional solution to their living needs, while delivering excellent yields to asset owners.

Our detailed analysis indicates that the performance metrics that are able to be generated from this acquisition can significantly exceed Evareium’s baseline targets, which Evareium intends to achieve by applying world-class standards, practices and principles to optimize returns from managing its portfolios over the coming years.”

Evareium aims to target lucrative real estate asset projects in the UAE and wider Gulf region, and migrate such portfolio once acquired into real estate investment trusts (REITs) that Evareium intends to establish regionally in the future.

Hickmott continued, “Substantial opportunity exists in the region for enhanced institutional ownership and investment in the burgeoning real estate sector, which in turn can help to provide a stronger capital framework for this fundamental and essential economic pillar of regional cities and nations.

Evareium intends to capitalize on this by acquiring a diversified portfolio of value-add and opportunistic real estate investment opportunities in the coming months and years. We at Evarei are proud to be advising Evareium on acquisition targets and due diligence activities pertaining to the vast range of opportunities currently being sourced and evaluated by the collective expert team of real estate investment professionals”.

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About

Evarei is a real estate asset and management advisory firm based in the UAE.

Further information on Evareium asset portfolio can be found on: www.evareium.io under Pipeline Projects.

EVM Blockchain Limited is a Cayman Islands company which is to be the issuer of the Evareium fund offering.

Evarei advises EVM Blockchain Limited on matters relating to the establishment of the Evareium real estate initiative and evaluates assets and projects suitable for Evareium.

Stefan Hickmott has been living in Dubai and the GCC region since 2001 and has an extensive experience in real estate acquisition, advisory and private equity, having previously been vice president of The Abraaj Group and an instrumental executive at the firm that has now become Jones Lang LaSalle MENA.

Evarei won the award of ‘Most Innovative Real Estate Fund of the Year – 2017’ presented by International Finance and International Finance Magazine in January, 2018: http://www.internationalfinance.com/finance/wealth-management/future-real-estate-evareium-project/.

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© Press Release 2018