HOMA, in collaboration with KBank Private Banking and UOB Asset Management Thailand, has successfully closed the United Private Equity Fund 1 (Not for Retail Investors), raising 1.2 billion Thai Baht (USD 34.2 million). The fund was targeted at institutional and high net worth investors in Thailand and will support HOMA’s mission to develop affordable rental housing projects in Thailand while delivering attractive returns to investors.
HOMA, backed by Asia Capital Real Estate (ACRE) and NOON Capital, aims to create vibrant co-living communities with comprehensive amenities such as fitness centers, co-working spaces, and lifestyle conveniences. The target audience includes young professionals, digital nomads, and families, fostering dynamic living environments that encourage interaction among residents. Sustainability is a key focus, with all HOMA projects being LEED and/or EDGE certified, attracting interest from global institutional investors. The Board of Investment (BOI) in Thailand has approved all HOMA projects, allowing for 100% foreign-owned freehold land ownership and other incentives.
Dr. Treepol Pumvusana, Senior Managing Director of Private Banking Business at KBank, emphasized the demand for alternative investments that offer consistent returns in uncertain economic times. KBank identified HOMA as an attractive opportunity for high-net-worth individuals due to its co-living and shared activities concept, providing reliable returns and attracting significant investment in a short period.
The successful fundraise signifies a significant milestone for HOMA’s expansion and validates its long-term growth strategy. With the raised funds, HOMA plans to expand its pipeline of projects, including developments in Phuket, Bangkok, and Northern Thailand. Currently, HOMA has two operational projects in Phuket and Chonburi, with two additional projects under development in Phuket. HOMA Cherngtalay, a 423-unit residential complex, is set to open by the end of 2023, while HOMA Chalong Bay is expected to open in early 2025.
ACRE, founded in 2011, is a global real estate private equity firm managing over $3.8 billion in assets under management. ACRE’s focus is on direct real estate equity and credit investments in high-growth markets, with a portfolio spanning multiple cities in the United States, Southeast Asia, and the United Kingdom.
HOMA is a leading provider of full-service, design-led co-living apartments that offer affordable rental accommodation. With a commitment to “Live A Better Life,” HOMA’s properties feature modern designs, sustainability, and a community-focused approach, providing short- or long-term fully-furnished rental options. Each HOMA property offers high-quality facilities, professional hospitality services, and 24-hour reception. Currently operating in Thailand, HOMA has a strong development pipeline and plans to expand into other markets across the Asia Pacific region in the future.
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