Australian property fund and platform manager DomaCom has opened a new office in Singapore to expand presence in the region.
In addition, the firm has hired Paul Zaman as managing director for the new Singapore office. He previously worked as a director of strategy at the Infocomm Development Authority of Singapore.
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Before to this, he led ING Barings Securities’ Asian equity research for the telecommunication sector.
The new office has been established to support licensed wealth and financial advisers servicing Singapore Exempt Investors.
The office has been launched in response to offshore demand in Australian fractional property investment.
Moreover, DomaCom is now seeking approval from the Monetary Authority of Singapore to distribute its DomaCom Fund offering to Singapore exempt investors.
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By GlobalDataLast month, DomaCom planned to launch an initial public offering (IPO) next year, after completing a $7m capital raising.
Arthur Naoumidis, CEO of DomaCom, said: "Singapore is the pilot office and if it works, we’ll look at other global offshore offices in Hong Kong, London and Jersey. We’ve got a lot of interest from overseas investors in using platforms to invest in Australian property.
"Whilst our focus is clearly on the domestic market and introducing the model to Australian investors through the financial planning networks, it is difficult to ignore the strong Asian interest," he added.
