British Pearl is currently focusing on making its property investment platform model available in other countries rather than prioritising more UK activity, its chief executive Ali Celiker has revealed.
Celiker told Peer2Peer Finance News that no further UK investments are currently planned but it is instead working on “a service as a platform model for other jurisdictions.”
He said this could include countries in Europe and Hong Kong.
“We are also not buying more property because we believe it is the wrong time to enter the market,” he said.
“When we believe we have seen the bottom of the market and economic and property market uncertainty has been removed, we will start building our portfolio again. “
The property investment platform announced in April that it has put its current property portfolio up for sale through online agent Vesta to preserve values as part of its ordinary exit strategy.
Celiker said there have been several interested parties and it is in early stage negotiations.
The platform was launched in July 2018 with financial backing from former Conservative Party treasurer Lord Fink.