Singapore

A WHOLLY-OWNED unit of Catalist-listed developer Pacific Star Development (PSD) has become the exclusive asset manager for Crowdvilla, a startup expecting to raise up to US$50 million in a digital token sale to build a portfolio of shared holiday homes.

Under a non-binding Memorandum of Understanding signed on Wednesday between PSD Singapore, Crowdvilla and Reitech, which powers Crowdvilla's blockchain technology, PSD will help source, evaluate and shortlist potential apartments, beach villas or hotel buildings for Crowdvilla to acquire or rent and operate.