Fulcrum Global enters into a joint venture with Noble Development, a leading property developer in Thailand, to jointly invest in the residential sector in the UK.

(7 May 2021 • Hong Kong) Fulcrum Global (Hong Kong) Limited ("Fulcrum Global") has entered into a joint venture with Noble Development Public Company Limited ("Noble"), a leading property developer listed on the Stock Exchange of Thailand (NOBLE.BK), to invest in residential projects in the UK. The total investment budget for this joint venture initially is GBP 100 million (HKD 1,080 million) with the intent to roll out 1,500 units per year and is expected to scale up to GBP 350 million (HKD 3,780 million) by 2024. Fulcrum Global will take a 55% stake in the joint venture, and Noble 45%.

Mr Frank Leung, the Founder and Managing Director of Fulcrum Global, who is also Co-Chief Executive Officer of Noble Development, said: "This joint venture will leverage the strengths and expertise of both companies to create a unique proposition for our customers.  We seek to combine Fulcrum Global's decade long investment experience in the UK, our best-in-class distribution network in Asia, and Noble's extensive experience in property development to this endeavour, and we are confident that this venture will contribute tremendously to the business development for both parties.  We will build a dedicated team of real estate professionals in the UK to develop property projects that appeal to real estate investors not only in the UK but also in Asia."

In the short to medium term, the joint venture will focus on office and retail conversions to residential developments in core UK cities. Due to an acute shortage of affordable housing, the UK government has passed legislation to encourage the conversion of commercial real estate into residential properties on preferential terms. The joint venture targets the acquisition and development of projects in this sector and markets them through Fulcrum Global’s extensive sales and distribution network globally. 

Managing Director of Fulcrum Global, Mr Timothy Wu, said: "As a premier international property investment platform, we have been continuously searching for different investment portfolios for our customers. Residential conversions are one of the most sought after investment sectors in the UK by tenants and investors alike, with net rental income generally in excess of 5 to 6% in city-centre locations. Thus, this investment offering combines the best of both worlds – a low quantum coupled with high net rental yield – that will appeal to both seasoned investors as well as those keen to get on the property investment ladder."

Over the years, Fulcrum Global has built a strong reputation and network amongst industry players in the international property market. Starting in 2012, the Company entered the UK market through a series of acquisitions of residential portfolios from developers in London and Manchester, totalling over 1,300 apartments.  Since then, the values of the properties have enjoyed rental growth of over 25% and capital appreciation more than 40%. 

About Fulcrum Global

Fulcrum Global (Hong Kong) Limited ("Fulcrum Global") is a premier platform for international property investments to investors based in Greater China, and in the process, provides an integrated solution across the entire ownership lifecycle to make overseas property investment more accessible. Fulcrum Global's business scope consists of three components - acquisition and development, sales and distribution, and downstream services - encompassing the entire international property value chain.

Since our founding in 2008, our relentless focus on overseas property investments, along with a strong emphasis on developing a best-in-class management and distribution network, have cemented our reputation as a market leader in the sector. Backed by a management team with an extensive background in real estate and finance, Fulcrum Global has over the years invested in over 70 residential and commercial property projects across ten cities in the UK and Asia, including London, Manchester, Bangkok, Singapore, Tokyo and Shanghai, with total project value in excess of USD 1 billion.

In 2018, Fulcrum Global set a new milestone with the successful acquisition of a 20% stake in Noble Development Public Company Limited, a top ten Thailand developer listed on the Stock Exchange of Thailand (NOBLE.BK).

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For further information:

Fulcrum Global (Hong Kong) Limited

Emily Wong, Marketing Manager

Email: emily.wong@fulcrum-global.com

Issued by Ignite Communications (HK) Limited for and on behalf of Fulcrum Global (Hong Kong) Limited 

Media Enquiry:

Solee Ngai

Tel: 852 9238 5207

Email: solee@ignite.com.hk