Tzero partners with ROI Group to digitize Dubai luxury hotel and resident

Tzero, a  blockchain entity for digital assets  has partnered with ROI Group™, a global real estate development company, to digitize up to $50 million of preferred equity in a luxury hotel and residential development located in downtown Dubai on the Tezos Blockchain. The partnership represents ROI Group™’s first digital security project of what could be one of many future digital security offerings. Headquartered in New York, ROI Group™ has multi-billion dollars in assets under management, with properties in the United States, Canada, and the Middle East. It specializes in land development, real estate investments, and passive co-investing.

The digital security will use tZERO’s smart contract technology, UAE based, Megalodon’s management consultancy services, and will be built on the Tezos Blockchain. ROI Group™ expects to issue the digital securities, subject to applicable law and separate documentation, in Q3 of 2021, and the development of the building is expected to be completed in Q4 of 2023. It is further expected that the digital security will become tradeable on the tZERO ATS, subject to legal and regulatory due diligence, offering investors secondary liquidity.

tZERO CEO Saum Noursalehi stated, “Our partnership with ROI Group™ has the ability to transform the real estate sector and builds upon our momentum in the space. We are excited about our project to digitize and trade up to $50 million in this landmark luxury hotel and residential development.”