2014.10.29

At 10:00 a.m. on October 22, 2014, Zhuhai branch of Times Property teamed up with soufun.com to launch the first real estate crowdfunding project--Times King City (Zhuhai). It was only within 144 seconds after the gateway to crowdfunding was opened to the public that sufficient monetary contributions totaling RMB 440,000 were made. According to the backend of soufun.com, a total of over 5,000 internet users fought for the crowdfunding, but only 186 succeeded.

Raising RMB 440,000 within 144 seconds

"It was too fast, and absolutely went beyond our expectations!" It was supposed to take one day to finish the project, but due to unexpected hot sales, it took only 144 seconds to raise RMB 440,000. According to the director of the crowdfunding, the event was the first real estate crowdfunding project in Zhuhai, and since the very start of event planning, the branch had been receiving calls for consultation, and even attracted clients from Hong Kong, Macao and other places.

It is known that the real estate for the crowdfunding offered by Zhuhai branch was a 77.85-square-meter apartment at Times King City (Zhuhai) with two bedrooms and two living rooms, whose market price was RMB 730,000. But this crowdfunding raised RMB 440,000, which was a 40% off. The auction-style crowdfunding started on November 1 with an opening bid of RMB 484,000 to ensure a minimum profit rate of 10% for the investors.

"Supposedly the bid is made at 30% off, and the investors will obtain corresponding premium income. If the investors contribute RMB 1,000, then the expected returns will be as high as RMB 115." The director of the event commented that this crowdfunding had an unprecedentedly low threshold yet high returns, indicating that investors just needed to invest a minimum of RMB 1,000, and they would get an expected annualized rate of return of at least 40%, whether or not they bought an apartment.

Times Property: early adopter of online crowdfunding

"Real Estate Crowdfunding" is a real estate financial product sold on the Internet with a favorable real estate purchasing price and returns on investment, launched by Times Property and soufun.com. Home buyers could become investors by subscribing to investment shares on the financial platform of soufun.com, and they could have a chance to buy an apartment at a bargain price, the lowest of which could be 50% off, and all of them could share the premium returns.

Times King City (Zhuhai) is the first real estate crowdfunding project launched by Times Property in Zhuhai. It is located at No. 22, east of Baijiao Road, Doumen District, Zhuhai City. Phase I of the three-phase project has been sold out, and residential and commercial premises of Phase II are presently on sale. The project, covering a land area of 251,100 square meters, has a total floor area of 530,000 square meters and a total number of 5,300 apartments. This crowdfunding broke the traditional pattern of real estate purchase and investment on the Internet, so it was a creative attempt of Times Property and the first endeavor of Zhuhai real estate to reap benefits from the Internet.