IBN Corp has established a regional business center in Malaysia and has several subsidiaries in China, Singapore, and Malaysia. The company’s main projects include IBN Highlands City in Genting Highlands, Green City in Serendah, Love-Ocean in Kuantan, Bentong Eco Park in Bentong, and IBN Bukit Bintang – the tallest residential building in Kuala Lumpur. IBN Highlands City is a billion-dollar project developed by IBN Corp Ltd. Located in Asia’s most prominent summer resort – Genting Highlands. This mixed-use development project integrates serviced apartments, commercial areas, and 5-star hotels to form a luxury property unmatched in the region.
Asset tokenization has a potential to increase the number of investors in the broader market, growth liquidity compared to traditional bonds, and reduce the time required to execute large projects. Tokenization in civil construction has been carried out by large construction companies and partners around the world.
The developer of the tokenization project for the construction of the IBN Highlands City-Fortune towers in Malaysia is the Brazilian Luiz Góes, co-founder of LGBank and current CEO of LYOPAY. For Góes, the resort construction project in Malaysia “is not only a pioneer in its magnitude but also a turning point in the crypto market and future tokenization initiatives.”
Góes also highlights that project of this dimension result from the plasticity and innovation that blockchain technology has been generating. For Góes, “what we are experiencing now is a new phase of consolidation of crypto-assets. The market begins to question merely speculative cryptocurrencies and focuses on less volatile assets.” In this new scenario, blockchain technology allows the creation of assets (tokens) linked to tangible projects. The decentralized and global nature of the digital economy provides access to more people worldwide with low capital to invest in more transparent and solid projects.
The project is trading 325,000 tokens, which are already available on LGBank. “The Hasbrotel token (HASHM)” allows its users to share ownership in the IBN Corp. Luiz Góes says the operation seeks to raise US$325 million. The construction company is expected to deliver the fully finished project in 2025.
Photo by Ajai Arif on Unsplash
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