SINGAPORE - Media OutReach - 13 November 2018 - PropertyBay, an integrated property development and investment company, today announced the launch of its Dunk Island Project -- a unique investment opportunity that enables existing BTC or ETC investors to invest in property. The project focuses on the redevelopment of Dunk Island, a tropical island in Australia's Great Barrier Reef, to create a world-class, eco-lux, smart-tech blockchain centric development with a tokenised foundation.
The project will begin with an initial US$110 million capital raise to support the development of phase one, which includes a 5-star hotel, luxury villas and glamp-site. Construction will commence build in early 2019, with an open-for-business projected for 2021. Private sale completion is expected to close this week, and PropertyBay will begin pre- and main sales targeted at crypto-currency investors in the week of November 19.
"We're excited to offer this first of its kind opportunity for BTC and ETH investors to buy into and own a share of this unique property offering, with the added benefit of it being a tangible asset with economic value -- the ownership, participation and profitability of an integrated resort on one of the Great Barrier Reef's most iconic islands," said Tim Sommers, co-founder of PropertyBay.
Early investors for the Dunk Island Project who invest more than 100 BTC or 3000 ETH will also have exclusive access and additional rewards.
The PropertyBay tokenization program will initially be established as a Managed Investment Scheme until a regulated platform has been developed in Australia.
PropertyBay is an integrated property development and investment company. We create and manage world class luxury resorts using smart and blockchain technology to set new standards in eco tourism.
More information on The Dunk Island Project and PropertyBay can be found here:
Dunk Island: https://dunkisland.io