Real Estate Company, Max Property Group (MPG) announced they will be using their newly developed property platform, Dominium, to launch the first tradable, automated, multi-lingual property fund in the Netherlands.
This is the second Dutch fund to be launched by the group, and the first in history to use a blockchain platform.
Dominium users can subscribe to the fund online, pass KYC procedures digitally, purchase regulatory compliant property bonds from as little as €1,000, and once the fund is fully subscribed, trade the tokenized assets with other users.
Property Director Esther Dekker says, “The use of blockchain technology means that investors can participate from just €1,000 as opposed to the €10,000 minimum that we had to set for the previous Dutch fund.”
The original Dutch property fund by MPG, Max Property Fund which offered 8% return per annum plus a profit share, was launched in September 2016 and was fully subscribed in the first year. Having set up subsequent investment funds in Germany and the UK, MPG decided to co-invest in a blockchain based platform that would streamline the investment process for both their clients and staff.
The result is property platform Dominium which uses Ardor blockchain technology to provide an array of services within the real estate industry, from launching regulated and unregulated property funds to project management, property listings, and smart contracts, in multiple languages and in multiple countries. To date, no other blockchain platform has offered this combination of features.
The second Dutch property fund by MPG, Max Property Fund II offers 6.25% return per annum plus profit share and is being launched on the Dominium platform, in the hope that automating the investment process will result in a more streamlined experience. Head of Development Erwin Van Kekem says,
“All the hard work that has been invested over the last few months is now coming to fruition and we hope that the system we have designed to help make everyone’s jobs easier and our services better will do just that.”