S$20m deals done at EPIC event
Deals worth more than S$20 million were concluded at Asia's first major crowdfunding event which took place in Singapore last week.
Organised by Singapore-based start-up CoAssets,the Expo for Property Investing and Crowdfunding (EPIC) 2014 attracted more than 500 delegates to the two-day event.
Getty Goh, Organiser of EPIC 2014 and Chief Executive Officer of CoAssets, said: "We think the event was very successful on several fronts. As real estate crowdfunding is still in its infancy stage, face time between the Opportunity Provider (OPs) and Funders is needed to establish some trust before any deals can be done online.
Therefore, EPIC 2014 was not only intended to engage stakeholders on the potential of real estate crowdfunding; it was also an avenue for the OPs to meet up with the Funders to discuss deals.
"In terms of crowdfunding pledges, the event has done exceptionally well, garnering a collective figure of more than S$20 million. This amount is based on figures collected from the OPs on both days.
"Akin to our online process, the onus is now on the OPs to follow up with the Funders. However, even if not all of the deals materialise, this clearly demonstrates the potential of real estate crowdfunding and the outlook is definitely very exciting."
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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