Singapore platform Shareable Asset gives retail investors access to real estate available only to big players – for as little as US$122
- Shareable Asset has attracted potential investors from Singapore to South Korea to its digital token-based platform
- Company aims to offer retail investors tokens in student accommodation, hotels around the world
Shareable Asset, as the app is known, has so far attracted between 200 and 300 potential investors based in Singapore, other parts of Southeast Asia and South Korea. They can co-invest in two studio units at a students’ accommodation in Sunderland, England, according to Wong Kook Fei, the company’s chief executive.
The company launched its website on May 19, and its app on May 22, and aims to tokenise assets worth between US$50 million and US$100 million this year. “Our aim is to basically bring great institutional real-estate assets to retail investors, that’s why it’s fractional,” Wong said. He said the Singapore government through GIC was also a big investor in student housing assets worldwide. Shareable is not related with the sovereign fund.
To invest through Shareable Asset, one has to download the app on a mobile phone, complete a vetting process, connect their bank account and choose their preferred investment. The initial investment could be as low as US$100. The platform also uses blockchain technology to ensure the security and transparency of transactions.
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The company will profit off its partnership with developers, real-estate funds and asset managers that will use the Shareable platform to sell their properties. The company will get a 5 per cent fee from asset owners instead of the retail investors.