Shojin introduces first non-UK property loan
Shojin Property Partners has issued its first non-UK investment by making an off-plan purchase of 20 residential units in Penang, Malaysia.
The units will then be flipped through the property lender’s existing partnerships in Hong Kong and China.
The project will be funded via an initial equity contribution of £855,000 from Shojin and its investors. Shojin Asia and Shojin UK are co-investing another £171,000.
There is an expected project timeframe of 15-21 months, which will partially be determined by the rate of sales.
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The minimum investment is £5,000, and investors are targeting an annualised return on invested capital of between 27 per cent and 38 per cent, equating to a targeted return on invested capital of 48 per cent, assuming all units will be sold prior to the completion of the site.
Shojin currently has offices in the UK, Kenya and Hong Kong.
Last year, Shojin’s founder and chief executive Jatin Ondhia told Peer2Peer Finance News that he hoped to launch two more international offices in early 2022.
Ondhia said that office launches were planned in India and the Middle East, potentially followed by another office in mainland Europe in 2022.
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