Unicoin expands crypto real estate portfolio with $335m acquisition of Eden Grand Resort
Unicoin, the asset-backed cryptocurrency designed to counter crypto market volatility, has sealed a monumental $335 million deal to acquire the Eden Grand Resort, a sprawling luxury resort and property project spanning 64,000 square meters in Chonburi, Thailand. This acquisition marks the largest-ever real estate purchase made with cryptocurrency.
The development plan for the property includes a 6-story building along with the construction of 150 2- and 3-bedroom villas, all designed to elevate the resort into the realm of luxury. Unicoin Inc. will execute the payment in unicoins, consistent with their strategy of acquiring real estate assets at 140% of their appraised value in unicoins. In this deal, Unicoin Inc. will pay Mr. Adnan a staggering 671,206,755 unicoins, equivalent to $335.6 million at the current investor price of 50¢/ú for unicoins.
This transaction follows hot on the heels of another record-breaking deal, where Unicoin announced an agreement with Electroquímica Del Neuquen S.A., valued at $210 million, to secure mineral rights in Argentina.
Unicoin’s forward-looking approach involves establishing a wholly-owned subsidiary in Thailand to hold the property title. Once the transaction concludes, Mr. Mohammad Al Saeed Adnan, the property’s owner, will ascend to the position of the largest single holder of unicoins.
Alex Konanykhin, CEO of Unicoin Inc., commented on the significance of this development, stating, “Unicoin is a perfect asset tokenization tool for real estate developers, as, by pooling multiple properties in our portfolio, we may turn Unicoin into a leading crypto brand with staying power. As an assets-backed, publicly reporting, audited and SEC-compliant cryptocurrency, Unicoin may win a significant market share from the assetless cryptocurrencies of the First Wave and provide Adnan with a high return on his investment.”
In response to this remarkable milestone, Adnan expressed his enthusiasm, saying, “Having witnessed the transformative ascent of cryptocurrency, I’m inspired by the boundless potential of Unicoin Inc. When these visionary forces unite, they set ablaze a captivating collaboration where innovation and imagination know no bounds, shaping a future that surpasses our grandest visions. I’m excited to witness Unicoin’s growth toward becoming a top cryptocurrency in the world.”