Global Reit Review – ICO, Crypto, How it works, Login, ETF, Contact
Global REIT claims to be the first ever Blockchain-Based Sharia-Compliant REIT to be launched in the market.
According to the platform, “It will start with a Net Asset Value (NAV) of USD 75 million and will reach USD 2 billion by end of 3 years. The first ICO will take place with 90 million coins for sale. The investment made by token holders will be invested in tangible assets which will generate income for all shareholders.”
The domain Globalreit.io was registered by one Ali Tumbi on the 15th day of January, 2018. The ICO will be structured in a way that each investor will be issued 2 tokens.
The company’s vision and idea of putting a REIT on the Blockchain is welcomed and Dubai is well-suited as a starting point for their investment activities, given the large number of real estate investment opportunities there as well as many other REITs.
According to Global REIT’s white paper, each subscriber will be offered two tokens:
- GREM: Global REIT Fund Manager token
- GRET: Global REIT Asset token
GRET is the token that is backed up by the real estate assets the company plans to invest in. This token will, according to the white paper, pay out a monthly dividend in US dollars and Tether (USDT).
It is unclear exactly how much the monthly dividend to holders of the GRET token will be, but the white paper states that GRET holders will earn a “stable ROI of 8% p.a. on its first acquired asset.”
Ali Tumbi is named as the founder. The second most senior person listed on the website is Chief Operating Officer Paul Christodoulou. He is currently working as Managing Director for Sotheby’s International Realty in the Gulf Area.
However, Global REIT’s blog on Medium lists Mr. Christodoulou as CEO of the company, contrary to the information given on their website and in the white paper.
- Token Type: Utility (Security)
- Platform: Ethereum ERC20
- Symbol: GRET
- Pre-ICO: May 1 to May 31, 2018
- Public ICO: June 1 to June 30, 2018
- Token Supply: 75 million (GRET)
- Tokens Available for Sale: 16,650,000
- Price: 1 GRET = $1 (1 GREM = $0.07)
- Minimum investment: 0.1 ETH / 0.01 BTC
- Payments Accepted: ETH, BTC, USD
- Jurisdictions Barred from Participating: None
Stay tuned as we dig more into Global Reit.
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Remember Global Reit runs on Ethereum ERC20 platform and the token is making moves across the market. Stay tuned to get to know its growth level.