CoAssets in crowdfunding platform tie-up

COASSETS, a Singapore real estate crowdfunding company which was listed on Australia's National Stock Exchange (NSX) in July, has formed a joint venture (JV) with Surabaya-based property development group PT Javaland Promosia Indonesia to launch Indonesia's maiden real estate crowdfunding platform.

For a start, the JV will generate over S$100 million in real estate crowdfunding opportunities, CoAssets announced on Monday.

Chief executive Getty Goh told BT: "Being the first such company in the region to venture into Indonesia alongside a local partner as well as to list on an exchange is proof of our commitment to do things right and become a major real estate crowdfunding platform in Asia-Pacific."