AQWIRE CEO Ray Refundo and Forest City Sales Director Qian Zhang signed a partnership agreement on October 20 during the Forest City launch at Bonifacio Global City (BGC). Starting next week, Forest City’s property inventories will be listed in Asia’s first blockchain-based real estate marketplace, AQWIRE.
Blockchain allows full transparency of transactions which is a perfect use case for the real estate industry. AQWIRE’s blockchain-based real estate marketplace breaks existing barriers in the international real estate market. This will allow Forest City to extend its reach to foreign property buyers and investors around the world.
The recently signed partnership is expected to help both companies showcase this breakthrough project on a global scale. AQWIRE’s director of growth strategy, JP Bayang, said,
“AQWIRE and Forest City are currently developing strategic marketing initiatives, listing optimizations, and so many other integrations to make sure we target the right market.”
Located in the Iskandar development zone of Johor state in south Malaysia and just one bridge away by car from Singapore, Forest City is built to be an eco-tourism hub which includes some of its premiere infrastructures like medical tourism facilities, shopping malls, and resorts.
Its strategic transportation system including its railway and ferry accessibility linking Malaysia’s Mainland to Singapore paved its way to becoming an ideal entrepreneurial hub while maintaining a relaxing environment.
The project also inaugurated Asia’s biggest Industrialized Building System (IBS) factory for pre-made building construction materials. With all these features and amenities, Forest City aims to become the go-to investment for international buyers.
The cross-border real estate industry has grown into a 400B USD industry in 2017. Along with that, are the challenges of property developers and brokers in selling a foreign property. Buyers are the ones who suffer the most in fulfilling acquisition requirements including logistics and legalities.
With this, AQWIRE envisions to facilitate an end to end acquisition process, from connecting the property buyers to developers and brokers, to assisting them in fulfilling their requirements in buying foreign properties. Added to that is an option for the buyers to channel their monthly payments through QWIKWIRE.
AQWIRE is the first international listing platform that Forest City has partnered with. Likewise, Forest City is the first international property developer to onboard AQWIRE.