MilCoin Network develops a network to buy beach areas in Mexico; goes for construction of buildings to double the number of tourists in the country.
Starting with a cryptocurrency to invest in real estate the Hank family seeks the development of hotels in destinations on Baja California, the Riviera Nayarita, the Jalisco and Quintana Roo coasts.
Cesar Hank Inzunza, son of Jorge Hank Rhon, are co funders of the MilCoin Network company, which offers a digital currency called MilCoin, backed by real estate investments.
With this cryptocurrency, from investments of one thousand dollars they seek to multiply the number of partners that bet on the real estate sector in Mexico and other countries.
The company’s website presents the Hank Family as the owner of banks, hotels, resorts and casinos, among other companies.
“The development plan includes nearly million hectares of land with more than 850 kilometers of beaches along the pacific and Atlantic oceans, and the sea of Cortes and the Caribbean, with more than 20 hotels.” He said. Interview with EL UNIVERSAL, Steven Schwartz, investment strategy advisor for the firm.
The interest for the development of this type of business in Mexico lies in the potential of the tourism sector that the country will have in the short term, he said: “There will be many hotels and tourist centers built in Mexico (…). In the next 6 to 12 years more buildings will be built in the field to double the number of tourists visiting the country.”
Without specifying how many properties or the amount of investment to be built from the purchase of MilCoins, Schwartz stressed that there is a large market in beach destinations.
According to the company, the purchase of its cryptocurrency will be supported by a portfolio of real state selected by experts, who instead of promising a participation in glamorous projects and high visibility, has developed a network to buy each area in important tourist destinations of Mexico.
“The first state profits will be used to pay for this real estate portfolio covering 7 million acres of development land with 530 miles of beach in Mexico, for which MilCoin Network has signed approximately 500 agreements to acquire memoranda of understanding. With vendors and hotel operators”, explains the company.