Phase I of ONE Carmel officially obtained the White Paper, formally known as the Final Subdivision Public Report issued by the California Department of Real Estate (DRE)), marking its transition to compliant sales stage. Following approval, land value now exceeds US$200 million (approximately HK$1.56 billion), with total project value surpassing US$2 billion (approximately HK$15.6 billion).
The ONE Carmel subdivision approval process required satisfying over 300 government conditions covering infrastructure, community governance, and funding systems. Spanning 891 acres in Carmel Valley, the project features 73 custom estate lots averaging 4.38 acres each. Phase I infrastructure for 36 lots is expected to complete by end of 2026.
The project integrates AI intelligent systems and has launched an RWA tokenization plan, converting US$40 million in equity into digital tokens, pioneering a new model combining luxury real estate with digital finance.
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