CoAssets, South East Asia’s first real estate group buying and crowd funding platform, which officially launched in Singapore back in July of 2013, has grown from over 200 registered users to more than 1,300 in just a few months. In terms of deals, since February 2013, the total amount funded through CoAssets was in excess of S$3million (US$2.7million).
“We do not broker deals like a property broker or help investors invest their monies like a fund manager. Our role is simply to help the opportunity providers create awareness for their project. All deals are subsequently negotiated between the opportunity providers and interested parties,” said Mr Getty Goh, Chief Executive Officer, CoAssets.
To date, opportunities from Australia, China, Japan, Malaysia, Philippines, Thailand and even the United States have been listed on CoAssets, making it a truly regional platform. In November 2013, CoAssets opened its second regional office in Kuala Lumpur, Malaysia to better serve the Malaysian users. At present, there are more than 200 registered members from that country.
“South East Asia is a burgeoning market that is full of real estate opportunities as well as individuals looking to grow their wealth through real estate. Apart from allowing users to list bulk purchase and crowd funding opportunities, CoAssets provides real estate analytics for users to better navigate through the various markets. Due to South East Asia’s diversity, such tools are essential in helping users better understand the different real estate markets before they commit in,” said Dr Seh Huan Kiat, the Chief Technical Officer, at CoAssets.
“While CoAssets was founded in Singapore, there is only so much opportunity available in a single country. By setting our sights beyond Singapore and onto South East Asia, we believe that the pool of opportunity seekers as well as opportunity providers will be much bigger,” commented Mr Goh. “We have already opened our first regional office in Malaysia and we are targeting to open another regional office sometime next year.”
“In terms of future plans, we believe many investors from places like the United States and Europe are keen to participate in South East Asia’s burgeoning real estate market. Therefore, we are actively looking for potential partners there. With CoAssets’ good local networks, we believe that companies who are keen to gain a foothold in Asia, will find it beneficial to partner with us,” said Dr Seh.
Edited by Gordana Davila