NOON Capital launches Southeast Asia's first blockchain-backed real estate project
Source: ACN Newswire for NOON Capital , Author: Posted by BI-ME staff
Posted: Fri July 20, 2018 6:26 pm

SINGAPORE, July 20, 2018 - (ACN 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.

Photo Captions:  NOON Capital logo

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.

 

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