Crowdfunders at CoAssets to receive first payout

June 04, 2014 | 16:02
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CoAssets, Southeast Asia’s first real estate crowdfunding site just announced that Bastien Jack Pte Ltd, a real crowdfunding opportunity from the United Kingdom listed on the platform, will be making their first payout to crowdfunders this month.

“As real estate crowdfunding is still in its infancy, we always welcome such positive news. As the co-founder of a real estate crowdfunding site, we want to show that platforms like ours can give property developers a viable way to reach out to funders and strategic partners. On the other hand, we also want to show investors that they can use our platform to access and research worthwhile deals,” said Getty Goh, CEO of CoAssets.

 “From the investors’ perspective, real estate crowdfunding presents an alternative way to grow their money. Specific to this opportunity, the developer is giving funders monthly payouts and the annual returns worked out to be between 9 and 11 per cent. This is more than what banks are currently offering, hence it is not surprising that many users were keen to meet the developer to find out more,” Goh explained.

CoAssets is a targeted leads generation site and organises frequent networking events for opportunity providers to directly meet with potential funders and partners.

During the last networking event organized for Bastien Jack, more than 80 crowdfunders attended and pledges worth more than S$700,000 were obtained from the one-hour session.

“The US, Europe and UK Real Estate Crowdfunding scene is growing exponentially, hence I am very excited to see that real estate crowdfunding is starting to take off in Asia

with companies like CoAssets taking the lead,” said Brett Alegre-Wood, chairman of Bastien Jack Pte Ltd. “As a UK developer I have the choice between crowdfunding and traditional funding lines, which, at first glance, might appear as a cheaper and even easier option. Nonetheless, I feel that crowdfunding offers so many benefits. Our initial efforts have produced fantastic results and I feel the future is bright for real estate crowdfunding movement.”

By By Bich Ngoc

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