Wahed announces a strategic partnership with the Creator Group

[PRESS RELEASE – Cranfield, England, 21st November 2022]

Waheed is excited to announce a brand new partnership with Creator Group. The Creators Group has many years of experience in real estate and property management and can look forward to enjoying a number of benefits that blockchain can bring to the industry.

Founded by CEO M. Ali Al Salman in Riyadh, Saudi Arabia in 2016 Creators Group has established itself as a leader in both the local and overseas markets. The Creators Group serves the best interests of investors, homeowners, corporate clients, developers and realtors and simplifies the investment activities of anyone wishing to get involved in real estate.

Creator Group provides the following services to clients in Saudi Arabia and abroad

  • Buying and selling of land and property
  • Commercial and residential rentals and leases
  • Feasibility studies
  • Project development
  • Real estate brokerage
  • Guidance and investment opportunities
  • Real estate appraisal

WAHED is a next generation investment and philanthropy platform powered by WAHED Coin. Based in the United Kingdom and chaired by Shaikh Abdullah bin Ahmed bin Salman Al Khalifa, Wahed has a vision of improving the world by nurturing business activities. By acting as an investment and blockchain partner, WAHED aims to bring all the benefits of a decentralized economy to companies that want to deliver value on a larger scale and with improved efficiency.

How the partnership will deliver value

The WAHED ecosystem is built on the Binance Smart Chain, an innovative blockchain that enables the execution of smart contracts. By being able to program actions on a public and permanent blockchain, it will be possible to implement greater transparency and accountability across the business.

Transparency and efficiency in operations

The proximity of the real estate world to existing legal and governmental frameworks makes drafting contracts and obligations a critical and costly process. Blockchains and smart contracts can significantly reduce costs by using templates that can be customized according to the requirements of the end user. Thanks to this innovation, the entire company will benefit from increased efficiency and lower recurring costs.

Transparency in transactions

With a permanent blockchain ledger, all parties involved in a transaction will be aware of the requirements, costs, and procedures to ensure that the transaction is completed efficiently. Using smart contracts to calculate costs such as travel time, office supplies, legal advice, and auction bids can make requirements clear to all parties involved, achieving significant time and money savings.

Transparency in commitments

When a property passes from one owner to another, there may be conditions that affect the terms of sale. These obligations may include changes to comply with legal requirements such as material quality and fire safety, or aspects related to design and/or function. Immutable recording of these requirements in a smart contract that takes effect when conditions are met would be a huge time saver.

Transparency in brokerage

Agent and broker commissions can range from 1%-6% of the transaction cost. While there may be significant costs that drive fees higher, the lack of transparency can affect buyer confidence. Blockchains enable trustless transactions and the ability to reduce the number of middlemen. Users can enjoy faster processing times and lower fees.

Permanent records of ownership and ownership

Blockchains are ideal for showing property ownership. These permanent and tamper-proof records can be updated when assets change, and additional details can also be added such as the creation of commercial rights and usufruct rights for a specific plot of land. Due diligence, property registration with the Federal Registration Service, and notary payments will be done on the blockchain, and fees will be included as part of the service package.

The partnership between the Creators Group and WAHED will provide a host of benefits that will undoubtedly enhance the experience and save costs for end users. Using the blockchain as a tool to promote efficiency and transparency, WAHED aims to raise the bar in how businesses are run and how lives are improved.

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WAHED will be available for trading on LBank on December 5, 2022. Join the WAHED community to get the latest updates on partnerships, new features, and more. Visit our official website for more information and join us on Twitter, Discord, Facebook and Instagram.

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