According to the Public Relations and International Affairs of the Kish Free Zone Organization, the execution of the large residential project "Khidmat Housing" (Avid Kish) began online on Tuesday, 19 Aban, concurrently with Kish Week, by order of Masoud Pezeshkian, the President, and Mohammad Kabiri, CEO of the Kish Free Zone Organization, visited the project site; a plan aimed at providing housing for employees of the island's executive, educational, medical, military, law enforcement, and service agencies, implemented with a public-private partnership approach and housing offered as shares (tokenization) and at cost price.
Mohammad Kabiri, while visiting this project, emphasizing the necessity of providing welfare infrastructure for workers in various service sectors in Kish, stated: A significant number of citizens work in the island's educational, medical, law enforcement, military, and service sectors, and the development of Kish's tourism, technology, and financial sectors requires preparing infrastructures including housing for these groups.
The CEO of the Kish Free Zone Organization described the Khidmat Housing project as one of three supportive housing schemes on the island, alongside the native housing and workers' housing schemes, and added: These three schemes are pursued to support different groups and to meet the housing needs of Kish residents and the island's economic and service activists. The Khidmat Housing project is also being implemented as a public-private partnership with the contractor selected through a public call so that housing can be provided at cost price for those who have served in Kish for years. He emphasized the scope of this plan: the 1,152-unit Khidmat Housing project, with a built area of over 180,000 square meters and a value of 170,000 billion rials, will be executed over a five-year period.
Kabiri, referring to the financial innovation of this plan, noted: One of the project's distinctive features is the use of the "housing tokenization" platform. He described this plan as one of the country's largest projects in the field of housing tokenization and said: The tokens of this project will be offered for pre-sale after achieving 20 percent physical progress and in compliance with legal regulations. The divisibility and fractionalizability of the tokens down to the decimeter level also makes it possible for applicants with different purchasing powers, even without the ability to buy a whole housing unit, to participate in this plan.
The CEO of the Kish Free Zone Organization, explaining the timing for token offers, also said: The online offering platform and the technical prerequisites for this plan have been provided by Kish Investment and Development Company, and the issuance of the tokens will be carried out according to the related guidelines and white paper.
According to him, the timing of the offering depends on the clarification of legal rules for calculating the project's physical progress and the method of accounting for land value in these calculations. He continued, referring to the prioritization of token purchase applicants: In the initial offering, about seven groups of service-providing classes, including teachers, medical staff, government employees, media activists, and other groups considered by the Cultural Deputy who are not covered by the native housing scheme, will be prioritized so that they can purchase tokens at cost price. After purchases by priority groups and the formation of a secondary market, other Kish residents and business owners will also be able to participate in this market.