PRODIGY NETWORK AND ICON SOLUTIONSbreaking news
Realty Access is proud to
announce their involvement in the offical arrival in
Singapore of the most successful crowd funding
platform in the world, Prodigy Network.
At the end of April, Bloomberg interviewed the CEO of Prodigy Network, Rodrigo Nino. The same New York city investment company was featured in the Today and the Straits Times on the 29 th of January and reported a successful $173 USD million fund raised in the US and a 5 billion Yuan China fund raised in just three days. In the live interview Mr. Nino revealed that the top corporate industries only survived the Global Financial Crisis because they collectively invested their capital in the top commercial sites globally, however the public were not given access to the same asset security due to a contradiction in the law that the general public could not have access to due to open solicitation of private offerings.
This securities law blockade on the small investor was lifted in 2013 and by 2014 Wikepedia reported that the small investor public funds in crowd funding was worth $ 5.1 billion USD in the first year, and an average of 446 campaigns an hour started globally in 2015. The public have flocked to property crowd funding for exactly the reason stated by Mr. Nino in his Bloomberg interview, “There hasn’t been a single case of fraud in the crowdfunding industry because its heavily regulated by the government to ensure safe operations between the companies, the public and the developers”. His sentiments were echoed by Karim Lakhani from the Harvard Business school stating, “In developed countries, crowdfunding provided access to commercial real estate assets that were privy to large investors before. Crowdfunding will disrupt the status quo of traditional equity investment in real estate.”
Welcome to the future: Bloomberg closed by stating that the new Financial Technology Industry termed Fintech is focused on providing financial services through technology. We have seen the success of this with household names like PayPal and Uber. Now property crowdfunding too is heading the same way. Collectively changing the traditional methods of financial profits made by consumers.
Back to Realty Access: Official Asia main dealer Icon Solutions Pte. Ltd. was invited to participate in the launch, Mr. Marc Reven, Icon Solutions Sales Director was invited to participate in the launch. Was were his thoughts after the personally communicating with the lead of Prodigy Network? “It’s fantastic to see our company’s business model of pooling client resources for the greater good of all by the mainstream big boys. While our industries are different in many ways we would recommend people to contact Prodigy Network to find out more.
- Analyze the leisure vacation market around the world. Conform with the target market for these vacation properties their desire for vacation locations. Run a complete feasibility study to justify client’s desires compared to locations. Confirmation of local laws to establish which projects can be presented to which country audience.