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SINGAPORE, July 23, 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 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, meanwhile, lowers the barrier to entry, and allows more room for growth and the creation of shareholder value.
"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 less than a generation, while the 20-year National Strategy (2017-2036) focuses on second-tier city growth, including Phuket and Chiang Mai. These cities are particularly interesting, as the country's rapidly growing middle-class, with its increasing spending power, is looking towards convenient, pricier housing solutions that still offer value for money.
A Track Record of Innovation: noone.sg.
Claudia Zeisberger, Academic Director of INSEAD Global Private Equity Initiative, has joined NOON's advisory board to support its business expansion with her experience in private equity and insight into blockchain development. This follows other senior appointments at NOON Capital, as it builds out its blockchain portfolio and builds technology strength.
NOON Capital is integrating blockchain technology into its planning and finance processes, and plans to secure finance from investors through digital certificates backed by its real estate projects. Interconnectivity of these applications on the same blockchain (Ethereum) 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 monthly bills like utilities and rent.
The Tower Phase I was the Company's first project, completed in Dec 2016, featuring a 74-unit tower and located in the heart of Chalong, a rising residential district in Phuket. The Tower Phase II is a 78-unit landmark with completion expected in Dec 2018. 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 - reserved for projects with the potential for social impact.
About NOON
NOON Capital is a Southeast Asia property investment platform that aims to reinvent the way properties are designed, funded and managed. NOON is deploying blockchain technology across its estate development and financial management pipeline, a solution which stands on the highest principles of governance and transparency, streamlining finance while delivering liquidity and cost-efficiencies. Learn more at noon.sg.
Media Contact:
PRecious Comms for NOON Capital
T: +65 6303 0567
E: nooncapital@preciouscomms.com
Topic: Press release summary
Source: NOON Capital
Sectors: Real Estate & REIT, Blockchain Technology, Construct, Engineering
https://www.acnnewswire.com
From the Asia Corporate News Network
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