During the 118th National Day Royal Address, His Majesty The King placed strong emphasis on the Gelephu Mindfulness City (GMC), outlining several historic decisions that could eventually become the most significant redistribution of wealth to the Bhutanese people. A central announcement was that GMC will be organized as a company, with ownership represented through shares linked to land. While private landowners within GMC will retain their interests, the vast majority—about 94 percent of the one million acres—consists of state land that will be shared collectively among all Bhutanese across the country’s 205 gewogs.
This does not mean individuals will physically receive land to develop. Instead, each Bhutanese will hold a share, similar to owning equity in a company. The value of this ownership may grow over time and generate returns, but it does not allow people to claim specific plots or assets. This approach was described as more understandable and meaningful than concepts like tokenization, especially for long-term national participation.
His Majesty also expressed concern about land concentration, warning against the risk of poorer or rural residents losing land to wealthier buyers, as seen in other urban centers. GMC, he emphasized, must remain firmly in Bhutanese hands and benefit everyone equally, including those without land in the area. Broad ownership is meant to create lasting responsibility across generations.
To further secure GMC’s future, His Majesty announced that 10,000 Bitcoins—worth roughly USD 1 billion—will serve as a strategic reserve for the project. This fund will not be spent hastily but used carefully to support infrastructure, talent, and long-term stability, while also demonstrating national commitment to international partners.
Additionally, GMC has already attracted strong global interest, with dozens of international companies applying to participate. Renovation of existing buildings in Gelephu will create offices, jobs, and rental income for local residents, while preserving Bhutanese architectural identity. Overall, GMC is envisioned as a uniquely Bhutanese gateway to Asia’s growing future, built on shared ownership, values, and careful planning.
