Alliance Investments to tokenise £500m of UK real estate

Alliance Investments has announced plans to tokenise £500 million of real estate projects across the UK over the coming years.

The first project will be a 180-unit luxury residential development in Manchester called River Plaza.

The company has partnered with the Tezos Foundation and Megalodon and will conduct a Security Token Offering (STO) backed by UK real estate.

Alliance Investments aims to raise £20 million for River Plaza using Tezos’ blockchain and Megalodon’s advisory services.

Alliance Investments CIO Rani Zahr said: “Raising funds through an STO is more efficient, cost-effective, autonomous, and democratic than traditional financing. We believe that we are at the forefront of a technological change that can disrupt the current funding paradigm and we are delighted to partner with two global players that are leading blockchain innovation, tZERO and Tezos, for our first STO.”

Zahr’s delight was shared by Tezos Foundation board member Hubertus Thonhauser, who added: “We are impressed by Alliance Investments’ entrepreneurial vision to redefine real estate ownership and tZERO’s mission to make liquid assets available to a broad audience. It is our mandate to power real-world use cases of blockchain adoption with the most advanced open source technology, and we are excited to work with Alliance and tZERO to make this a reality.”

For more news, guides, and cryptocurrency analysis, click here.