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GIFA Unveils 85 Million (USD) Crypto Investment.

March 27, 2021

Investments in real estate and commercial properties are gaining rapid popularity these days: The interest and demand for real estate development are ever-increasing, but due to many intermediary parties, traditional real estate investments are very illiquid and expensive to issue.

Thanks to Tokenization, the digitalization of securities, which is a new way forward that disrupting financial services and market models. Tokenization utilizes blockchain technology: a distributed ledger that secures data across the network of authorized stakeholders. This new and innovative technology can automate and help many intermediary transactions to bring liquidity to real estate, enabling new investor groups to participate.

85 million dollar crypto investment 

GIFA Token unveils 85 million dollars worth of cryptocurrency in tokenizing the Stone Arch Retirement Village Project, the first and only tokenized project in Northern Cyprus, which is being built in Iskele and expected to be completed in 2 years. This is a great investment from businessmen and GIFA Holding LTD. The preliminary development of the 5 retirement settlement projects, and one is already under construction in Iskele aims to offer a quality lifestyle to the retired population from Europe and elsewhere. 

The implementation of the project was signed between the primary developers and companies, Korman Construction LTD and Stone Arch Retirement Village. GIFA Holding LTD provided $ 85 million worth of cryptocurrency to Stone Arch Retirement Village company, the company that undertook the project.

The Chairman and CEO of the Stone Arch Retirement Village, Mr. Malcolm G. Weeks stated that ”We aim to bring more than 5 thousand pensioners to Northern Cyprus”. ”Our vision is to provide a well-deserved quality of life for all retired people.”  So far the land acquisition for the project has been already completed. Korman Construction LTD: ”We made a preliminary agreement for partnership and cooperation, I would like to thank GIFA Holding for the crypto finance opportunity they offer us”.

The Korman Construction LTD’s Chairman of the Board of Directors Mr. Günay Çerkez stated that the company will manage 20% of the project partners under the contractors of the Retirement Village Project and that such projects have gained intensity in many countries in the last 25 years. Çerkez stated that the project will be a great investment with high added value to the country.

GIFA Holding LTD

The GIFA Holding LTD’s President Yusuf Kısa stated that more than 100 projects applied for GIFA Tokenization and requesting for project financing and since then all projects were examined in detail by his team, and 5 projects among them were eligible for financing. Further, stating that they decided to fund the project with 85 million dollars worth of cryptocurrency. 

“The use of cryptocurrencies is spreading rapidly. “We will continue to provide finance for projects that are deemed appropriate”.— Mr. Yusuf Kisa

Iskele’s project is one of the 5 projects planned for the Retirement Villages on the island and the first kind of project in the country. The Stone Arch Retirement Village’s first project in Iskele will be built with a budget of $450 million, and the construction expected to be completed within 2 years. Other capital has been allocated for the remaining 4 projects, located in different regions and expected to be completed within 5 years. While the Retirement Village Project is the first project to be financed with crypto, the concept of a retirement village will also be a first in our country. 

A memorandum of understanding was signed between Korman Construction LTD and Stone Arch Retirement Village Company. The project will also contribute to Northern Cyprus’economy and will stand on its own feet. Emphasizing that there are purchases, sales, purchases, and many similar transactions with cryptocurrency around the world, Yusuf Kısa pointed out that Turkey ranks 4th in the world and that the use of crypto has started to spread rapidly in TRNC.

”We believe that it will make a great contribution to the economy of the country.” — Mr. Yusuf Kısa

Mr. Kisa continued, saying that ”GIFA TOKEN has started to finance large projects in the international and TRNC. In addition, the digital asset is being utilized in TRNC in retails, purchasing houses, cars, and buying lands with crypto. As for GIFA TOKEN, we believe that we have achieved great success, and we will continue to finance more projects that are deemed appropriate and hold a positive effect on the country’s economy especially during this pandemic period. “

Korman Construction LTD

Korman Construction LTD’s Chairman of the Board of Directors,  Günay Çerkez: It will be a full-fledged concept!Mr. Günay Çerkez stated that his company Korman Construction Ltd. which is one of the most prestigious companies in Northern Cyprus will be the contractor of the Retirement Village Project, and this has drawn much attention to the fact that such projects uplifted people’s values in many countries and then will bring huge impact in the Mediterranean countries where the season has been more moderate. Further, stating that he is of the opinion that the Retired Village Project will be compatible with Northern Cyprus.

Çerkez emphasized that the European retirees particularly the British are not foreigners to Cyprus. Stating that the British come here from time to time to buy a house and want to continue their lives here, Çerkez said that the Retirement Village Project will not only consist of a place to stay, but it will also be a full-fledged concept that will include all sort of infrastructures such as a health center, entertainment and etc. Günay Çerkez emphasized that such projects have been slated for the last 25 years. 

“A big project with high added value to the country” — Mr. Günay Çerkez

Pointing out that the project in question will make a significant contribution to the economy, Günay Çerkez stated that it will provide more income from both tourism and higher education. Çerkez emphasized that those who want to stay in the Retirement Village Project will receive all kinds of services here and that the added value to the country will be more than tourism (except casinos). 

“It was not difficult for us to utilize the financing opportunity that GIFA Holding LTD offers us through GIFA TOKEN Crypto. Globally, many companies and projects have begun to come to life with the crypto finance system, zero interest, zero mortgage, zero stress methods. In order to realize the first of our project. We are very happy to have a preliminary agreement with us for partnership and cooperation. “

“Thank you to GIFA Holding for the Crypto Finance opportunity they offer us” — Mr. Günay Çerkez 

“I would like to thank GIFA Holding for the finance opportunity they offered us and KORMAN Construction Ltd. And thank GIFA Token for the decision to partner and cooperate with us in the project” on behalf of both my company and all of our stakeholders and investors. I have no doubts that this project will provide serious opportunities for the Turkish Cypriot community and the economy of Northern Cyprus as a whole. In addition, our company has a strong and sustainable environmentally friendly policy in line with ethical and social values. We want it to be known that we are determined to be in consultation and communication with local governments and the regional entities in every step we take. “

Stone Arch Retirement Village Company

The Stone Arch Retirement Village Company Chairman, Malcolm G. Weeks: Quoted; The deserved quality, lifestyle, and residential home for all retired people“In every step, we want you to know that we are also committed to our governments, partners, and the public and would also be in consultation and communication with other stakeholders”  Stating that he is always understanding the importance of an elderly home or retirement home or nursing home, he said that he believes that a retired person has the opportunity to live a brand new life in front of him, the opportunity to do hobbies that he could not dream of and to live his dreams that he could not live.

”My company’s vision is to create “a deserved quality, lifestyle and residential home for everyone who is retired.”  In line with this vision, my company Stone Arch Retirement Villages Ltd. has always been open to joint ventures. ” lifestyle and residential home ”options.

“Life starts with retirement” — Malcolm G. Weeks

Mr. Weeks said there are some extramural activities the retirees of the retirement villages will enjoy, such as painting, music, online learning, joining a book, joining hiking groups, participating in hobby activities such as photography, gardening, bird watching, and even paragliding.  “It is precisely for this reason that we, as a company, decided to enter into such a project, as an initiative. “Our vision is to deliver a well-deserved quality to all retired people” 

— Malcolm G. Weeks

We decided to develop Retirement Villages in order to offer the quality lifestyle that people deserved, with the understanding of “LIFE STARTS WITH PENSION”.  Saying, the proposed Stone Arch Retirement Villages is the first unique initiative in Northern Cyprus, we expect different companies to make decisions in this direction,” said Weeks. 

We want them to see Cyprus as a serious and high-quality option. Our company aims to bring over 5,000 retired Europeans (mostly from the UK) over the next 6 years.” ”I guess it is not necessary to be a ‘philosopher’ or an ‘economic genius’ to see that it is right to invest in this sector and that these retired villages (which are new for this place but very common in the world) are built here, in Northern Cyprus, for the retired population”. 

Land acquisition has been completed

The acquisition of suitable land for the first retirement village in the İskele Boğaz region of the Birinci Emekli Village has been completed. Again, for our second project, we are planning to purchase new lands in areas such as Lefke / Gaziveren, Girne / Karşıyaka, Lefkosa (Nicosia) plus ( Bosphorus) where land acquisition has been completed as well as in Tatlısu. “

Why Tokenize Projects?

  • New investor groups: Because capital requirements are lower and better diversification
  • Increased liquidity for investors: Due to digitalization and transferability of the security token
  • Automation reduces cost: Reduce the need for intermediaries while lowering fees, organizational efforts and allow broader participation.
  • Higher transparency: Due to the unique qualities of the blockchain ecosystem which stores transactions immutably.

Tokenization offers two important advantages:

  1. New investor groups attracted because of the higher liquidity and flexibility of the digital securities
  2. Lower cost for managing and issuing the estate as a security.

Why Northern Cyprus? 

North Cyprus is among the safest countries in the world, low crime rate, widely spoken English, affordable cost of living compared to many countries, low cost of living, housing prices, and rents are incredible compared to many similar countries. The popularity of the country (as well as the wonderful weather conditions), low, rich history of Cyprus, moderate people, and peaceful environment.

Author

Ibrahim.

+905428585123
info@milanohomescyprus.com

Mr. İbrahim Özkuş he is a founder of Marble & Granite business at I & C Memorials in the United Kingdom, London and currently a Director Manager of Milano Homes Cyprus and Boltas Commercial, a real estate agency in Northern Cyprus. Mr. İbrahim has extensive experiences in Realtors' business and commercial industry include the residential properties and immovable assets.

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