It’s no news that blockchain, over the last few years, has gained immense traction as one of the most exciting ways to invest, disrupting whole industries in its wake. It was initially designed to facilitate, authorize, and log the transfer of bitcoins and other cryptocurrencies. Cryptocurrencies are digital money that use the blockchain technology to facilitate secure and anonymous transactions. Combining this technology with various industries can revolutionize the traditional approach to businesses and reap benefits including cost reduction, faster settlements and increased transparency. This kind of integration is exactly what blockchain-based Global REIT is to real estate.
To mitigate real estate risks and overcome investing challenges, REIT (Real Estate Investment Trust) has long been a popular alternative investment vehicle. Simply put, REIT is a trust, corporation or an association that owns or finances income-producing real estate, that can be publicly listed or privately owned. The income of a REIT is generated through rent earned from its owned-asset portfolio, interest earned by financing real estate assets or sale proceeds upon sale of assets under management (AUM). Therefore, publicly listed ICOs are, in essence, liquid investment.
Global REIT is the first ever blockchain-based Sharia-compliant REIT to be launched in the cryptocurrency space today. It’s game-changing feature to its investors is the exposure it offers to the global real estate market without having to acquire entire properties. Furthermore, it shifts the management and compliance obligations to the fund manager. Global REIT will acquire its first asset – Mysk by Shaza, located on the trunk of the world-renowned Palm Jumeirah – valued at USD 75m. Following this, Global REIT will acquire more high-value assets from other jurisdictions worldwide. Unlike traditional REITs, dividends paid out to its token holders are stable, instantaneous and on a monthly basis.
Ali Tumbi, Founder of Global REIT and Owner of Aqua Properties stated, “We’re delighted to be able to make real estate investment more accessible and less regulatory to potential investors. Blockchain has done wonders for several industries, and by merging real estate with blockchain, we’re confident that Global REIT can shape the real estate industry to be truly global – both on paper and in reality.”
Pre-ICO runs between 1st May to 31st May 2018, during which it will offer Dual Utility tokens to its subscribers; Global REIT Fund Manager Token (GREM) and Global REIT Asset Token (GRET). This means that each token holder is entitled to a share in the Fund Management Company (GREM) and returns from the Asset Owning Company (GRET), besides the utility attached to each token.
Public sale begins 1st June, followed by the first dividend distribution in July.
Global REIT is a finalist for Top 3 Blockchain Startups in the Middle East and Top 3 Blockchain ICO in the Global Blockchain Awards 2018 set to take place on 7th-8th May 2018.
About Global REIT
Global REIT is the first ever Sharia-compliant blockchain-based REIT to be launched in the market. The company offers investors exposure to global real estate markets without the necessity of acquiring an entire property by shifting the management and compliance obligations to the fund management. By merging REIT with blockchain technology, Global REIT is able to create a truly global real estate investment portfolio that will offer better value-added benefits than traditional REITs. This is set to shape the landscape not only in the GCC, but also worldwide, in how real estate investments are perceived, accessed and transacted.
© Press Release 2018