Investment firm KSI Investments has acquired a 5-acre plot of land in Sydney, following a crowdfunding effort via the DomaCom platform that raised $6.4 million.
According to a statement, KSI Investments has completed the acquisition of a parcel of land five kilometres away from the planned Sydney airport.
The plot of land is expected to accommodate 110-140 houses and see a “significant increase in the land value” if rezoning and development applications are approved.
The plot of land is the “first in a series of planned acquisitions”, the statement said, acquired by funds raised through the DomaCom Crowdfunding Platform.
KSI Investments chief executive Robin Luo said the acquisition was a “significant milestone” for all Australian property investors.
“We have successfully gathered together a group of likeminded investors interested in buying land and helped them transact on a prime piece of land in Sydney’s South-West growth corridor,” Mr Luo said.
DomaCom chief executive Arthur Naoumidis added that the investment platform was “delighted” to be involved”.
“This transaction strongly demonstrates the vision behind the DomaCom platform, as we’re helping investors pool money together to purchase quality land assets that would normally be the domain of institutional investors,” Mr Naoumidis said.
The adjoining block of land is open to SMSF investors, private investors, companies and trusts for investment at a minimum investment of $2,000 and a five-to-seven-year investment timeframe.
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