United Kingdom-based Knight Dragon Investments Limited (“Knight Dragon”), via its subsidiary KD Tokens Limited (“KD Tokens”), today announced Central London’s first property tokenisation project with an anticipated market valuation of £140 million.
Knight Dragon has tokenised the economic interests in the 191-unit Building 4, Upper Riverside Development which is at the heart of the corporation’s ten million square foot iconic Greenwich Peninsula development.
KD Tokens has minted the tokens (“KDB4 Tokens”) and holders of KDB4 Tokens will share 80% of the gross profit generated from this prime Central London real-estate development. A portion of the profit generated from Greenwich Peninsula Building 4 will be distributed to each holder of KDB4 Tokens.
Speaking in Hong Kong, Sammy Lee, Founder and Vice Chairman, Knight Dragon, said today, “At a corporate level, Knight Dragon has just revolutionised the entire European property market and will now move to do so internationally. At an individual level, for a relatively modest investment, individuals can own a piece of Central London real estate profit. In the same way an asset can be securitised by dividing it into shares, tokenisation allows an asset to be divided into individual tokens. The tokens represent a specific share of an underlying asset. In this case, ownership of KDB4 Tokens will represent a fractionalised interest in a contractual right to share in the gross profit of Building 4. Building tokenisation is set to revolutionise the global property industry and we are pleased to be a leader in this revolution. Pioneering in property is central to Knight Dragon’s DNA. We are entrepreneurial, creative-spirited makers of places who bring new ideas and set new standards for urban living. Being the first company to tokenise an entire building in Central London fits exactly with our bold vision for the global property industry.”
The asset-backed KDB4…
