Melbourne, Australia, Aug. 16, 2022 (GLOBE NEWSWIRE) — Venn HomeSuite, a luxury commercial and residential space that provides premium comfort for tourists and travellers, has announced that it will dive into the real estate industry and tourism in launching a real estate investment in joint ownership.
The company aims to provide investment opportunities to new and existing investors who believe in the future of tourism and real estate. Interested investors can buy up to 30,000,000 shares at an issue price of AUD 0.25 per share to raise AUD 7,440,000. In addition, all shareholders will be of equal rank.
The capital of potential investors will be exclusive to the acquisition of land. Upon acquisition of the land, the management team will obtain the necessary permits to allow the development of service apartments. Therefore, a subsequent capital increase will finance the real estate development and the construction of the building.
This investment will take advantage of the growing interest in tourism and travel services. According to statistics of property market activity in 2021 from the National Property Information Center (NAPIC) in Malaysia, property prices jumped 21% in 2021. In addition, the Malaysia Tourism Promotion Board ( MTPB) added that tourism increased after the opening of the border and received 134,728 tourists in 2021.
Consequently, the demand for quality travel and tourism services by customers has grown exponentially, leading leading comfort provider Venn HomeSuite to meet the growing needs of tourists at home and abroad. Therefore, Venn HomeSuite is starting a split real estate project and raising funds for it.
To be part of the investment project, you can apply for shares by completing the valid application form on the company’s prospectus or the online subscription form by visiting www.vennhomsuite.com
About Venn Home Suite
Venn HomeSuite is the next level pioneer in tourism and real estate. The Malaysia-based company is developing an eco-smart commercial building that combines the comfort and flexibility of homestay accommodation and luxury hospitality. Unlike hotels that are less private and more expensive, Venn HomeSuite lets you enjoy the peace your surroundings have to offer.
Founded by Kevin Wong, a leader with over 20 years of experience in the construction and real estate industry, (and also involved in travel agency) the upscale commercial house seeks to create a relationship between the world of real estate and tourism where everyone can access luxury comfort and hospitality in a homestay hotel.
Additionally, Venn HomeSuite has a proven track record of exceeding its set goals as it recorded 94% as the average profit percentage achieved per project. The company also made a profit of RM49.7 million on its past sales. These figures show that Venn HomeSuite is able to offer investors better returns on investment.
In addition, the company makes sure to give back to the community. As a result, the company intends to channel a portion of its profits from the Venn HomeSuite business unit to underserved and disadvantaged people in the immediate area. These contributions are generally used to acquire basic daily needs, groceries and medicines.
Organizations that have benefited from Venn Group’s CSR (corporate social responsibility) efforts include Be Home for Special Care Penang, Penang Cheshire Home, St. Joseph’s Home and Sima Handicapped Center.
More development for the future
After raising the target funds from investors, Venn HomeSuite plans to obtain the necessary development approvals to build assets for tourists and travellers. Additionally, the company aims to tokenize the shares in 2023 once the capital increase is completed.
From 2024 to 2026, Venn HomeSuite will begin the first construction works and will renovate and furnish the building. Finally, the Certificate of Completion Compliance (CCC) application and commercial launch of Venn HomeSuite will take place in late 2026.