A view of the Free Port of Vladivostok, a quickly growing tourist destination.

Relex adds another partnership, a waterfront city-center hotel in Vladivostok, Russia. This addition increases the number of projects available on the forthcoming platform and indicates growing interest in the cryptocurrency-backed real estate development investment platform.

The waterfront city-center hotel is still in its early planning stages, which means opportunity for Relex proxy developers. Work is earmarked to begin in Q4 2018 to Q1 2019.

The land holds no debt and is free and clear to build and develop. Currently there is a lease on the land is until 2026, but the developers are talking to city authorities who are willing to either extend the lease or convert it into ownership (as long as the land is being used).

The starting cost for the development is $2.5 million USD.

Vladivostok is alluring to many in the Asian continent, bringing in tourists from Asia who frequent its casinos. In fact, many Chinese tourists believe that the territory is theirs. Vladivostok is also home to a number of venerable universities and the fledgling cryptocurrency center of Russia, suggesting a reason that a cryptocurrency company has been so readily adopted in the country.

Relex’s Russian arm is spearheaded by Chief Investment Adviser John Bonar and his OOO Vostok Project and Y!2B Vladivostok.

Unlike most investment companies, Relex proxy developers have a say in building design. The schematics for the hotel, while undertaken by a professional, would respond to direct input from Relex proxy developers involved in the project.

Instead of investors and developers sitting opposite one another, the proxy developer model places everyone cooperating around the same round table, working together to create the best possible design.

Proxy developers are unique to the Relex platform, and it represents another way that the Relex company provides additional transparency for its investors and requires accountability from its developers.