PropNex forms Strategic Alliance with Infiniti Asset Management
PropNex Realty, Singapore’s largest real estate agency, announced that it has formed a strategic alliance with Infiniti Asset Management Pte. Ltd (“Infiniti”) — a wholly-owned subsidiary of mainboard listed ISR Capital Limited (“ISR”), which is a fund management company specializing in providing niche and innovative investment solutions to investors.
The amalgamation of expertise from both sides will bring to investors a first-of-its-kind real estate investment solution - Infiniti Real Estate Strategies Fund (“IRESF”). To be launched on 14 January 2014, it caters specifically to accredited investors (defined as those with $2 million net worth or those above $300,000 in annual income) and institutional investors (entities with net assets exceeding $10 million). PropNex will provide access to its extensive industry network and knowledge to support Infiniti’s research and business intelligence to execute its investment strategy in the fund.
This alliance will support PropNex's ability to deliver higher levels of value-add for the firm's expanding portfolio of local and multinational clients who are keen to invest in real estate but face difficulties due to the many cooling measures that were announced recently.
The slews of cooling measures such as the ABSD, TDSR, LTV and SSD have made it onerous for many investors looking to enter the property market. These investors tend to diversify part of their investment portfolios into real estate for wealth protection and stable returns. However, the measures have made it challenging for such investors to access the real estate market, thus, possibly forgoing a key component of enhancing their investment returns. The current outlook of the real estate market with muted growth in the next few years also deters many would-be investors from entering the market.
The IRESF will address these issues by allowing investors to invest a minimum sum of $100,000 without being restricted by the abovementioned cooling measures and yet the fund will allow him/her to co-invest in new developments in Singapore and regionally.
With a limited supply of land and continued strong interest from both local and foreign developers, PropNex have been providing consultancy services for many successful land bids in the past. This fund is designed for investors to co-invest in future land bids locally and other opportunities regionally.
“Infiniti also takes a long-term bullish view on the real estate market in Singapore, considering that the country’s robust economy has a limited land supply to operate on,” explained Ms Quah Su-Yin, CEO of ISR Capital.
Mr Mohamed Ismail, Chief Executive Officer of PropNex Realty, added, “This marks another key milestone and is an excellent fit to our growth plans. This move also affirms our commitment to collaborating with Infiniti in order to provide an alternative solution to our customers. We believe the alliance, coupled with our proven track record will be a winning solution to our clients, and bring us one step closer towards achieving our vision to be the real estate partner of choice.”
Mr Ismail concluded, “The current real estate has compelled us to think out of the box to provide solutions to our investors who are keen in brick and mortar form of investment.”
SingCapital—a MAS approved financial advisory firm, is the official distributor of the fund and for more details of the fund to visit www.singcapital.com.sg or contact 62582212.
Mr Alfred Chia, Chief Executive Officer of SingCapital, added, “This fund provides a unique proposition for investors who favour real estate investment as an asset class in order to partake in physical property investments. We have raised more than $6 million in a week from our client base.”
For media enquiries, please contact:
1) Mr Alfred Chia, CEO SingCapital at 94554829
2) Mr Mohamed Ismail, CEO PropNex Realty at 94871414
3) Ms Quah Su-Yin, CEO ISR Capital at 91682098