Department of State Development

23 Sep 2019 Investment

SA-based innovation to revolutionise property investment bricklet by bricklet

International technology firm, Lakeba Group is gearing up to revolutionise the property investment sector by introducing blockchain technology to fragment land titles into ‘bricklets’.

Lakeba Group’s technology will make it more affordable for people to invest in property by enabling small parcels of a property title, known as ‘bricklets’, to be purchased by individuals. Bricklets can then be traded in the same way entire property titles are bought and sold, only incurring pro rata costs.

The technology will make property investment more affordable with people able to purchase individual bricklets, rather than buying entire properties.

Two apartments in Adelaide’s tallest residential property, Kodo on Angas Street, recently completed by developer Flagship Group, will be the world’s first properties to be fragmented this way.

Lakeba Group has teamed with technology partner IBM to scale the blockchain platform globally.