BMJ Score: 3.9
Market
Transparency
Team
Token
Adoption
Quick Summary
513 crypto investors read thisCommentary
Real Estate Investment Trusts (REITs) are common and accepted for buying into big commercial properties through a fund rather than outright single ownership with concomitant expenses and exposure. Global REIT adds two novel twists to the model. It puts real estate shares on the blockchain. Even more interesting, it is the first-ever Sharia-law-compliant REIT. Conformance to Islam means it targets the Middle East and other wealthy Muslim nation's. Will acquire assets starting from U.A.E. and rapidly enter properties in other similar jurisdictions worldwide.
Investment Information:
- How to invest: Invest with Ethereum, bitcoin, or USD. Bitcoin can be sent from wallet or exchange, Ethereum can ONLY be sent from a wallet. Must join the whitelist.
- Eligibility: 0.1 ETH & 0.01 BTC.
- BONUS: 20%
Market: 4.6
- Difficult to create REITs in UAE and similar jurisdictions because of compliance issues with tax and religious laws (Sharia Law). REITs also not typically available to investors of cryptocurrency.
- Target customers are crypto investors who want stable dividends through long-term real estate assets), real estate asset holders looking for liquidity, and other REITs that want to take advantage of blockchain framework.
- Global REIT sector has grown significantly. Data from NAREIT shows the market capitalization REIT sector in U.S. has more than tripled to $1trillion in the past 10 years. UAE, where Global REIT will purchase their AUM, has almost no REITS.
- Global REIT claims Sharia compliance will exempt it from major legal issues in the UAE.
Transparency: 3.3
- Global REIT will work like traditional REIT BUT offer additional benefits including 1) future access to all its Assets under Management (AUM) starting with free stays every year in its first hospitality asset 2) reward points will be offered in the Loyalty programs attached to its AUM. Unlike traditional REITs, 1) Its portfolio will include assets acquired globally 2) token holders will participate in ‘Fund Management Income’ and 3) token holders will receive monthly dividends.
- Whitepaper on the short side. No sign of VC investors. Company plans to issue two tokens -- GREM and GRET.
- Company will distribute its GREM tokens as follows: 29% to the public during the pre-sale phase, 11% to be issued to the public during the crowd sale of the ICO, 5% reserved for advisors, 55% to be distributed to its funds managers. ICO plans calls for its GRET tokens to be distributed as follows: 16% to the public during the pre-sale phase of the ICO, 6% to the public during the crowd sale of the ICO, 78% to be distributed to the Asset Contributors.
- Company plans to allocate ICO funds as follows: 35% for sales and marketing, 30% for fixed compensation for ICO team, 15% for administrative expenses, 10% for legal, 5% for auditing, 5% for miscellaneous expenses.
Team: 3.5
- The team descriptions are vague.
- Founder Ali Tumbi is noted as "a high-energy entrepreneur with the ability to understand complex situations quickly and determine the best way forward."
- Website offers LinkedIn profiles but should do better.
- Paul Christodoulou, COO (LinkedIn)
- Ali Tumbi, founder (LinkedIn)
- Vijay D Vyas, Director, Acquisitions, India (LinkedIn)
Team Members
Token Mechanics: 4.2
- Global REIT is an already established platform.
- Token holders of GREM and GRET will get future access to all Assets Under Management (AUM). Those with minimum 5,000 tokens of GRET or GREM get free stays every year. Reward points will be offered in the Loyalty Programs attached with its AUM and can be used to access free services to a certain limit. Holders of GREM with minimum 100,000 tokens have an option to sell their real estate assets to Global REIT and enter the liquid market in the crypto domain.
- Dividend to Investors on GREM = 2% - 1.25% of AUM. Dividend to Investors on GRET = 8% ROI on 1st AUM.
- GREM: 200 million GRET: 75 million
User Adoption: 3.6
- Difficult concept if you're unfamiliar with REITs or real estate investing.
- Partnered with four institutions: MME, Deloitte, AmaZix, Renowned & Co
- Decent buzz. Top article has over 600 impressions according to buzzsumo.
