NOON Capital Launches Southeast Asia's First Blockchain-Backed Real Estate Project
2018年7月20日 - 7:30PM
JCN Newswire
NOON Capital, the Southeast Asia-based property investment
platform, announces plans to establish strategic real estate
investments in second-tier Southeast Asia cities. The Company's
first properties have an accumulated value of US$20 million. The
first tower is complete and fully operational, while the second is
due for completion in 2019.
NOON Capital is also shifting the financing and management of new
investments onto blockchain - making it the first real estate
developer in Southeast Asia to build, manage and drive individual
and institutional investment with blockchain technology. The
Company's clear focus on second-tier Southeast Asian cities, where
there is more room for bringing about market efficiencies, lowers
barriers to entry and creates more room for growth and value
creation for shareholders.
"Thailand has a stable currency, low inflation, a strong banking
system, and is embracing blockchain technology. It has great
infrastructure for both our investors and tenants," said Luca
Dotti, Managing Partner of NOON Capital. "This makes rapidly
developing cities such as Phuket an attractive proposition, because
it has the safety and structure of a developed country, while also
having immense real estate potential for investment and
development."
According to The World Bank, Thailand has moved from low-income to
an upper-income country in a generation, while the 20-year National
Strategy (2017-2036) is focused on the countries second-tier
growth, including Phuket and Chiang Mai. These cities are
particularly interesting, as the country's rapidly growing
middle-class, with its rapid spending power, is looking towards
convenient, pricier housing solutions that still offer value for
money.
A Record of Innovation noon.sg
Claudia Zeisberger, Academic Director of INSEAD Global Private
Equity Initiative, has joined NOON's advisory board to support its
business expansion with her vast experience in private equity and
insight into blockchain development. This follows other senior
appointments at NOON Capital, as it builds its blockchain portfolio
and grows from technology strength to strength.
NOON Capital is integrating blockchain technology into its real
estate housing and investment processes, and plans to secure
financing from its investors through digital certificates backed by
its real estate projects.The interconnectivity of these
applications onto the same (Ethereum) blockchain creates a
seamless, efficient and transparent investment process. It also
offers conveniences, such as updating quickly, so that investors
can receive small dividends in real-time whenever a monthly rental
check is presented, and tenants can use digital wallets to pay
regular monthly bills like basic utilities and rent.
The Tower Phase I was the Company's first project, completed in Dec
2016 and featuring a 74-unit tower, located in the heart of
Chalong, a major residential district in Phuket. In only ten
months, it attained a 90% occupancy rate. Following this, NOON is
venturing into the development of Spazio NOON, a network of
co-living spaces in Thailand which won the Patrick Turner Award at
the INSEAD Venture Capital Competition - awarded to projects with
large potential social impact. The construction of its first
outpost in Phuket is due to commence in the second part of the
year.
About NOON
NOON Capital is a Southeast Asia-based property investment
platform, which aims to reinvent the way properties are funded,
designed and managed in ASEAN. As a strong supporter of
technological innovation, NOON is deploying blockchain technology
on its estate development and financial management pipeline. This
solution stands on the highest principles of governance and
transparency, streamlining transactions while delivering liquidity
and cost-efficiencies. To learn more, please visit noon.sg.
Media Contact:
PRecious Comms for NOON Capital
T: +65 6303 0567
E: nooncapital@preciouscomms.com
Source: NOON Capital
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