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Wed 21 Mar 2018 02:54 PM

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$20m blockchain real estate investment fund launched in Dubai

Evareium portfolio comprises completed buildings totalling almost 700 apartments

$20m blockchain real estate investment fund launched in Dubai
(Tom Dulat/Getty Images - for illustrative purposes only)

Evarei Management on Wednesday announced it has secured the rights to acquire its first $20 million real estate portfolio in Dubai.

The Evareium portfolio comprises completed buildings totalling almost 700 apartments across two new up-and-coming master communities in Dubai, the company said in a statement.

Evarei said it intends to take a 100 percent interest in the operator of these assets through a leveraged buy-out of the asset owner’s holding company during the second quarter of 2018.

Evareium is a new international investment fund initiative launched in conjunction with UAE-based lead adviser Evarei Management.

It aims to target lucrative real estate asset projects in the UAE and wider Gulf region, and migrate such portfolio once acquired into real estate investment trusts (REITs) that Evareium intends to establish regionally in the future.

Described as a blockchain and smart contract solution for the digitalised real estate investment generation, Evareium allows instant online digitalised investment into managed real estate assets through a ‘tokenised’ fund, which aims to create liquidity by registering on multiple digital exchanges over the course of 2018.

Stefan Hickmott, Evarei’s CEO, said: “This acquisition announcement represents a significant opportunity to be one of the first, landmark investment projects of Evareium. By securing the rights to acquire this excellent portfolio of well-performing assets comprising high-quality complete buildings, Evareium is able to bring this rare opportunity to secure expected strong returns to its stakeholders.

"Our detailed analysis indicates that the performance metrics that are able to be generated from this acquisition can significantly exceed Evareium’s baseline targets, which Evareium intends to achieve by applying world-class standards, practices and principles to optimize returns from managing its portfolios over the coming years.”

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