Comment on page
FAQ (Listing Properties)
- We will be focused on high-quality, income-producing commercial properties.
- The properties during the Proof-Of-Concept (POC) phase will enable us to analyze the demand from the community so that we understand the types of properties to focus on bringing on-chain.
- Due to the legal framework CitaDAO operates under, these properties will only be from Commonwealth countries.
We are currently structured to facilitate commercial Real Estate transactions from countries that practice the Commonwealth law.
After our Beta Launch, we will progressively look into other countries that do not practice the Commonwealth law.
As of now, we have 8 existing assets with a combined size of over 200,000 sqft comprising Prime Real Estate such as Offices, Retail, Industrial, Warehouses, Data Centers, Hotels, Student Housing and Mixed Used Developments for our POC and Beta.
The eventual goal is to open the platform to the public to list their properties. We have spoken with landlords from the UK, Europe, Australia, Canada, and even the US with more than USD $5 billion worth of Real Estate that are keen on listing their assets on the platform once it is open to the public.
From now till Q2 2022, we will be launching only the POC and Beta version of the platform. There will be 8 assets worth a total of approximately USD $240 million for the POC and Beta version.
From Q3 2022, property owners in defined Commonwealth countries will be able to list their Real Estate on the platform. Members of the community are free to commit to any IRO that they are interested in. If an IRO garners sufficient interest, it will be successful.
Each IRO is specific to the property listed and community members can decide if they are interested in a particular IRO. A couple of factors that each member may take into account before making a decision include: the quality of the property, the location, its rental yield, and value.
In summary, there is no fixed number of IROs and whether or not an IRO is successful will depend on the community.