Multi-Billion Dollar Real Estate Developer Niecon Partners With Xillion (XIL)
Queensland, Australia.
One of the oldest Multi-Billion Dollar and award-winning Australian-based real estate developers, Niecon, has partnered with NFT Real Estate Platform All Set (by Xillion). They will tokenize, fractionalize, and sell several luxury villas worth over $5 million in small pieces starting at $10 / per piece.
Niecon is one of the oldest real estate developers in the country (est. 1969), the company has built 22 real estate projects worth 2.08 billion dollars, including a spectacular $850 million project, The Oracle.
To make this project happen, Niecon has established a strategic partner of real estate investment platform All Set - by Xillion (XIL), which specializes in tokenizing real estate.
Approximately in January 2023, several luxury villas located in one of the most popular holiday destinations in Australia (Gold Coast, Queensland) will be sold on the All Set website as NFTs. The total price of the villas exceeds $5,000,000.
Ventura Residences is a boutique collection of 45 spacious north facing, skyline, and ocean view apartments, as well as 2 Prestige Park Fronting Villas.
How That Works:
- Niecon and All Set will tokenize each of the villas by minting 10,000+ NFTs for each of the villas.
- The sale will be conducted on All Set website. Users will need to use their wallets to buy NFTs.
- Every user will be able to buy as many NFTs as they want.
- After users have purchased an NFT, they will be able to sell them or trade them anytime without any permissions or approvals from the seller.
- Additionally, all NFT holders will be able to receive an income from rent. Niecon and All Set will be professionally managing the villas, and by doing that, it will be able to provide all of the NFT holders with an opportunity to earn an income from it.
- If any of the users would love to purchase the property in whole, they will need to buy all of the NFTs. Right after that, property ownership will be transferred to them.
At the moment of writing, All Set has received commitments from 12,570 users for $7.25 million during a private sale for selected investors.
Niecon CEO Quote:
In our endeavour to continuously grow and improve, we are excited to work alongside All Set by Xillion.
We believe that combining real estate and blockchain is a great opportunity to modernize the industry. There’s a space for innovation in the real estate market that could make the entire marketplace more accessible, flexible, and inevitably support growth.
The new generation of real estate buyers differs from the ones that came before. We believe that to serve them adequately, we must continue integrating mindful and relevant innovations in the Niecon ecosystem. This opportunity will allow us to empower our business with the blockchain infrastructure developed by All Set.
About Niecon:
The Nikiforides Group commenced activities in the construction and development industry in 1969 in Canberra, subsequently expanding into Sydney and several other locations along the NSW Eastern seaboard. In 1978, the Group relocated to South East Queensland where a reputation for quality and innovation was quickly established.
With its flagship property development company Niecon Developments, the group has won numerous industry awards for construction, design and engineering excellence and continues to be at the forefront of developing the ultimate lifespaces.
“The third generation, born and raised on the Gold Coast, we are as much a part of this community, as we are looking to positively develop it. Our city skyline is already a standing testament to the Niecon name, we will secure the Gold Coast as a place for all generations, now and into the future.
Learning from our history and leaning into our future, we are ready to re-define our hold on the property market. But more than that – we are working now with a consciousness to act with the future of the Gold Coast in mind. Secure this place for all future generations.”
Key Numbers:
- 22 Residential Commercial projects delivered.
- $2.08B in value of all projects built and delivered on time by Niecon.
- 38 Prestigious rewards received by Niecon.
About All Set:
All Set is building a blockchain-empowered combination of Zillow, AirBnB, and Robinhood for Real Estate in one very easy-to-use platform.
All Set opens access to the Real Estate market to millions of customers from all over the world. All Set gamifies the experience, and makes real estate investments a no-brainer. By doing that, they bring billions of fresh capital to the market, where Real Estate developers can utilize to fund their projects. At the same time the platform solves the biggest problem of real estate - liquidity. By having tradable NFTs that represent a fraction of the properties, every property becomes liquid. By using the platform, every owner of the investment property could increase the income by 15%-50% / per year without changing daily operations.
