Dunk Island, its first project, is an exotic investment offer with the vision to create a world-class resort where eco-tourism and technology meet holistically with a tokenized foundation. A venture that will re-imagine one of the most stunning tropical islands in one of the greatest wonders of the world, Australia’s Great Barrier Reef – boasting exclusive virgin rainforests, sweeping arcs of golden sands, thriving tropical gardens and surrounded by stunning coral reefs and turquoise seas.
The project begins with an initial US$110 million capital raise, open to BTC and ETH holders, to support the development of phase one, which includes a 5-star hotel and luxury beachfront eco-villas. Construction will commence in early 2019, with ‘open-for-business’ projected for 2021. Investment will provide indirect ownership of the freehold of the island and regular dividends from an iconic smart resort that has been projected as a $500Million development.
‘We’re bringing a unique real-world asset to an investor community and very keen to attract crypto buyers into our fund as a first step towards the regulated tokenisation of global land assets’, said Ian Duffell project co founder ‘other tokenised real-estate projects exist internationally but not of this scale or uniqueness! It’s a pacific island on the Great Barrier Reef where early adopters with over 100 BTC or 3000 ETH will be rewarded with significant extra benefits’.
PropertyBay are launching the project from Australia, a highly regulated environment where the tokenisation of assets currently does not exist. The team is therefore working with regulators in Australia to offer a Managed Investment Scheme for investors, with the aspiration to tokenise the project once a regulated platform has been approved.
As part of PropertyBay’s redevelopment efforts, the vision is for Dunk Island to be one of the most sustainably and eco-friendly advanced resorts in the Great Barrier Reef and a global benchmark with smart technology as another primary driver.
“We are committed to our vision of rejuvenation, to be environmentally compassionate, sustainable and culturally rich, while also preserving and protecting the amazing biodiversity of the island and its surrounds,” said Ian Duffell, “Dunk Island plays an important role in the Great Barrier Reef ecosystem and we are passionate about its preservation and conditioning for the future.”
The island is four kilometres off Mission Beach on the coast of Tropical North Queensland. The Mission Beach region will hugely benefit from the re-development and it is expected to create over 400 jobs during construction and over $100M per year in regional benefit. The local community including key stakeholders like the Mayor is in full support of the project.