Token offering whitepaper
- Document ref
- WP-PRP-1002-202608
- Version date
- 12 August 2026
- Token approval
- ARVA-26-8597
- Holding vehicle
- Royex SPV 1002 FZCO
1. The offering
Royex SPV 1002 FZCO offers 8,900 ownership fractions in Palm Vista Penthouse 3301, a penthouse of approximately 3,150 square feet in Palm Jumeirah, at AED 1,000.00 per fraction. The property is valued at AED 8,900,000 and is held by the special purpose vehicle named above. Each fraction represents a beneficial interest of 0.0112% in that vehicle's interest in the property.
2. Use of proceeds
Subscription proceeds are applied to the acquisition of the property by the vehicle, associated transfer and registration costs, and a working capital reserve held against service charges and maintenance. Proceeds are received into a segregated account and are not commingled with operating funds of the platform.
3. Income and distribution
The property is let at AED 46,000 per month. Distributions are calculated on net operating income after the deductions set out below, apportioned by token balance on the distribution date and settled in United Arab Emirates dirhams.
- Gross annual rent
- AED 552,000
- Vacancy allowance
- 5% — AED 27,600
- Service charges
- AED 22/sq ft — AED 69,300
- Management fee
- 8% of collected rent
- Platform fee
- 1.5% of collected rent
- Insurance
- AED 9,800
- Net operating income
- AED 395,482
- Net yield
- 4.44% (gross 6.20%)
4. Five-year illustration
| Year | Gross rent | Costs | Net income | Per token | Capital value |
|---|---|---|---|---|---|
| Year 1 | 552,000 | (128,918) | 395,482 | 44.44 | 8,900,000 |
| Year 2 | 568,560 | (132,786) | 407,346 | 45.77 | 9,256,000 |
| Year 3 | 585,617 | (136,769) | 419,567 | 47.14 | 9,626,240 |
| Year 4 | 603,185 | (140,872) | 432,154 | 48.56 | 10,011,290 |
| Year 5 | 621,281 | (145,098) | 445,118 | 50.01 | 10,411,741 |
All figures in AED. Illustration only — see the key risks document.
5. Transfer restrictions
Fractions are represented by a permissioned token. Every transfer is verified against the platform compliance registry at the point of execution. A transfer to an address that is not on the registry is rejected by the token contract and cannot be completed by any means available through the platform. Holders who cease to satisfy the registry conditions are unable to transfer until the position is regularised.
6. Certificates and cost basis
Each subscription or acquisition is evidenced by a numbered certificate representing one acquisition lot at one price. On a partial disposal the certificate is cancelled and a replacement issued for the balance, carrying the original acquisition date and the surviving proportion of the attributable cost. Superseded certificates are retained permanently as the audit record and cease to evidence a holding. Cost is determined on a FIFO basis: First in, first out — disposals consume the earliest-acquired lots first. This basis is applied consistently to every disposal and cannot be varied for an individual transaction. The current position of an account is evidenced by the register and the holdings statement, not by any printed certificate.
7. Exit
Holders may offer fractions to other registry-verified holders through the platform's secondary market. There is no guarantee that a buyer will be available at any particular price or within any particular period. The offering has no fixed term and the vehicle may dispose of the property by holder resolution, in which case net proceeds are distributed by token balance.
Document reference WP-PRP-1002-202608, version dated 12 August 2026. Figures are drawn from the asset record maintained by the platform and are stated as at the version date. Illustrations assume rent growth of 3% and capital appreciation of 4% per annum; neither is a forecast nor a guarantee of return. Past performance is not a guide to future performance.
Demonstration document produced by a simulation environment. It is not an offer, not a prospectus, and carries no legal effect. No contract was deployed and no regulator was contacted.