Dubai based real estate company Emaar, one of the top 10 global real estate brands, has revealed plans to launch its own Etereum-based token and to hold an ICO in Europe.
Developed by Swiss blockchain startup Lykke, the token will reward Emaar’s customers and stakeholders access to the referral and loyalty system across the entire company.
The company will also consider conducting an ICO in Europe within a year of the launch of the token, which will reportedly comply with the ERC-20 standard.
Emaar is the largest real estate company in the United Arab Emirates (UAE), responsible for the Burj Khalifa, Dubai Fountain, Dubai Mall and Dubai Opera. According to its Wikipedia page, Emaar Properties boasts a revenue of $5.83 billion and has been valued at $9.7 billion as of June last year. According to recent reports by Brand Finance, a brand valuation and strategy consultancy agency, Emaar Properties was officially named one of the top 10 global real estate brands of 2018.