Shojin Property Partners raises funds for first project outside of the UK
Shojin Property Partners has raised over £850,000 to acquire 20 apartments in its first international project outside of the UK, in Malaysia.
The peer-to-peer lending platform raised the funds from over 40 global investors in just a month, after Peer2Peer Finance News exclusively revealed the P2P lender issued the investment onto its marketplace in January.
The online real estate investment platform said the funds will be used to purchase the apartments within Muze, the first residential phase of the multi-billion Ringgit Penang International Commercial City, led by Malaysian developer Hunza Properties Group.
Penang is a coastal city located on the north-western part of Malaysia, one of the most economically vital regions in the country, the second largest city by population and in recent years has become a popular property investment hotspot.
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“Penang is a hugely valuable and significant location, especially with the world’s growing reliance on microchip technology, which explains why it received the highest level of foreign direct investment in comparison with all other Malaysian states in 2019 – as high as 27.8 per cent of Malaysia’s total approved investment,” said Jatin Ondhia (pictured), chief executive of Shojin Property Partners.
“The fact that we can be a part of such an exciting and growing community is a testament to not only the team at Shojin, but all the partners we work with as we take this first step into the global property investment landscape.
“Having focused exclusively on the UK property market until now, I’m enormously excited to see our first raise outside the British Isles, which demonstrates the power of the model and our success to date.”