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Reidao and Pacific Star Development in holiday properties tie-up

By Charlene Chin

/ EdgeProp |

May 4, 2018 6:49 PM SGT

Blockchain start-up Reidao has partnered Singapore listed Pacific Star Development (PSD) to ride the latter’s expertise in evaluating holiday properties that are worthwhile to rent or purchase.

Reidao will build its portfolio of holiday assets on Crowdvilla, a non-profit platform under the startup that allows users to share ownership of properties in major tourist destinations by paying for them in Ethereum.

PSD’s collaboration with Crowdvilla is subject, however, to the latter’s ability to raise US$50 million ($66.6 million) through crowdsourcing.

If successful, PSD will help Crowdvilla source for and evaluate hospitality properties, with the aim of building up a substantial global property portfolio. The holiday properties targeted by Crowdvilla lie in the price range of US$100 to US$200 a night, factoring in location, size and ratings by prior users.

In the first phase, PSD will focus on Asian properties in popular tourist destinations. The list includes Kuala Lumpur, Bangkok, Jakarta, Bali, Phuket, Tokyo and Hong Kong. In the second phase, PSD will evaluate hospitality properties in Europe, the Middle East and the US.

Tags:

property briefs Reidao Crowdvilla PSD Pacific Star

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