Luxury Resort in Malaysia Will Raise Funds to Build by Selling Tokens

[waybesuricata]

Luxury resort life: Yes please. One of the largest construction companies in Southeast Asia, have just announced that they will raise funds to build a wildly beautiful hotel via a token sale.

IBN Corp has its real estate tentacles across Asia. It has a presence in Malaysia, China, and Singapore. The company has some impressive developments under its belt, including IBN Bukit Bintang – the tallest residential building in Kuala Lumpur.

IBN Highlands City
Their latest project, called IBN Highlands City, is a billion-dollar project. It will be located in one of Asia’s most well-known summer resort – Genting Highlands.

The project will have serviced apartments, commercial areas, and 5-star hotels, all falling into the luxury category. And they will be paying for construction by selling tokens.

Source: https://beincrypto.com/luxury-resort-in-malaysia-will-raise-funds-to-build-by-selling-tokens/

[TomPluz]

Tokenization has been slowly coming to the real estate industry but there are now some organizations which are taking a look at it as one of the best ways to raise funds or capital and this news from IBN Corp is certainly one of the many developments that can usher in more companies to use tokenization for their real estate projects. A good trend which is worth watching...and of course we can expect other industries to also join the bandwagon.