CEO Lumia and Polygon Ekec Talk about skyscrapers of 220 million dollars and tokenization of real estate

Lumia and Turkish developers Saint Group have built the first first project of CRIPTO Real-Estate, Lumia Cuarders, which has been token on Polygon’s Blockia. After the announcement, Cripto.News had the opportunity to implement K & A with the Head of Company and Financial Services for Polygon Laboratories, Boris Spremo and Lumia Coe Kal Ali.

Editor’s note: The article is corrected to clarify that Lumine built the lumi and Turkish developers Sen group, and not cooperation between Lummy and Poligons. Polygon’s Blokchain is used to put the tower.

Passing over 50,000 square meters and is found in the largest city in TurkeyIstanbul, a massive infrastructure of 220 million dollars was set up at the house of 300 housing and commercial units and is ready to become a global cryptic center. According to the CEO Lumi Kal but, the twin skyscrapers will be completed and fully tokenized To the second quarter of 2026. Years.

But he said that the lumer towers signify a breakthrough in the way people approach property ownership. Using the tokenization model, they hope that the real estate market will be made more accessible, open and seamless for retail investors.

Toward data From Landshares, the current market value for tokenized actual property is about 187 billion dollars. However, it is estimated To sigh between $ 3.5 trillion in the bears and $ 10 trinary in the event of Bull until 2030. years, reflecting potential growth of 50 times. This explosive expansion is largely driven by ventures trying to fractify high value assets through the BlockSchain technology, allowing investors to possess commercial and housing properties by buying tokens.

However, despite the promise of democratization of real estate investment, challenges such as regulatory complexities, market liquidity and technological integration of physical assets with digital tokens continue to colacts this rather new model and could lead to potential risks.

For example, the actual liquidity of the tokenized real estate would still depend on the development of active medium markets. Without sufficient scope of trading, investors may ignore to buy or sell tokens property ownership, limiting the intended liquidity benefits. Currently, Tim Luminia did not provide an explanation of how this issue could be resolved.

In the past, other tokenization projects are directed to existing buildings. In the US, Tokenvest bought $ 740,000 in Longmont, Colorado and tokenized, enabled to provide investors to third parties directly 97% of the purchase capital.

Unlike previous prokects, the lumer towers will become the first major RV real estate project built from a Web3 Company.

Head of enterprise and financial services for the polygon (Matic) Laboratory, Boris Spremo stated that the property has always been one of the markets in which the obstacles to the entry of the “sky of the high” are.

In the case of Turkey, where the Lummy tower will be built, real estate prices remain increases. Analysts have predicted Property prices in Turkey will increase by 10% to 15%. However, there is a high appetite for real estate investors in the region. In January 2025. year sale of a house in Turkey increased By 39.7% of the year, reaching 112,173 units – the second highest January digit at the records. Sales supported by mortgage also saw an increase of 182.8% compared to one year ago.

Spremo believes that the project will be able to set property ownership more accessible because RVA tokenization is able to take physical assets and “interrupt them on potential input points of fractional ownership input.” However, how much each unit will continue to depend on the price of property in the region, which did not show signs of reduction from late.

How will ownership of ownership will distribute through the block?

But he explained that the property rights for tokenized double skyscrapers will be structured through a vehicle or SPV for special purpose, which will acquire the tokenized property. SPV actions will be conized chain in the form of ERC-20 tokens.

“Token holders will have the right to manage, allowing them to vote on decisions regarding the use of property, as they give or sell,” said but.

According to, the lumer towers will be distributed to the Lummy chain, giving easier access to retail investors. Tokens will also have access Defi Protocols via Luma Toka and Ecosystem Lumia.

Through the tokenization process, Poligonov The role is concerned that developers such as Lummy can adjust their block for this case of specific-use. Boris Spremo explained that the polygon is able to reduce the costs of tokenizing the infrastructure ownership of 220 million dollars without compromising security.

“Polygon infrastructure handles high values ​​in which Etherum is too expensive or too slow. When you are a $ 50 million or wait for a $ 50 transaction fee,” Save.

Hope and traps of the real estate tokenization

Moving forward, director of Lummy Kal but said that lumi aims to expand the model of Luma Tower to other regions like the Middle East and North Africa, the United States and Europe.

“Mast times for expansion will bring innovative tokenized real estate to the global audience, helping the real estate investment revolution and ownership in a larger scale,” said but.

The head of the company and financial services for the laboratory polygon, storage predicts that there will be three trends in emerging when it comes to RVA tokenization moving forward.

“It is the first tokenization of whole settlements or districts, not individual buildings. This creates opportunities for community management and harmonized incentives between residents and investors,” Spremo said.

Second, it believes that real estate tokenization in combination with other types of financial products, such as mortgage lending and insurance products. In this way, developers can use BlickChain technology to connect them directly with tokenized assets.

Finally, he sees technology as a passage of more traditional financial institutions enter the Web3 space, specifically bank and investment funds.

Although we are preparing that real estate tokenization will be able to “lower the barrier” that people hope to invest in real estate, there are many potential obstacles that could belong the real estate tokerization project. These risks range from smart contracts and technological vulnerabilities for overestimation due to trade speculation. As the nature of the tokens, the prices could become volatile depending on market activity.

In addition, the tokenization of real estate does not remove traditional risks related to real estate investments, such as property management challenges, constant work of apartments and maintenance costs.

Recently, Florida Cripto Property Firm in the case of real estate has launched real estate initiative that claimed that “revolutionized real estate investments”, claiming that about 1,200 housing units in Detroit.

Unfortunately, the project proved to catastrophic to their tenants, because they did not have a notion that pays a rental, taking into account numerous adhesive globonic-owned in a world that do not identify aside.

In fact, according to New York post office, real estate departments Michigan Realtoeken owes the city of Detroit at least $ 2 million in unpaid taxes and 1,000 tickets. The firma allegedly has 200 facilities in danger of closing due to unpaid debt. However, the Callet spokesman has since denied these claims, saying that companies for real estate acquisition companies are under special property from the company.