Co-Living Group HOMA Raises THB 1.2 Billion To Fund Thailand Expansion

In partnership with KBank Private Banking and UOB Asset Management Thailand, growing co-living group HOMA has closed a private equity raise of 1.2 billion Thai Baht (USD 34.2 million). The mutual fund was marketed to institutional and high-net-worth investors in Thailand. The proceeds from this capital raising will support HOMA’s commitment to introducing more affordable rental housing projects in Thailand while generating attractive returns to its investors.

HOMA is backed by Asia Capital Real Estate a global real estate private equity firm, and NOON Capital, a Thai residential developer. HOMA primarily targets young professionals, digital nomads, and families with young children, fostering dynamic living environments that encourage interactions among residents. With flexible lease periods ranging from one day to one year, HOMA caters to diverse needs. Sustainability is a key focus, as all HOMA projects are LEED and/or EDGE certified, which has received positive responses from global institutional investors. Additionally, all HOMA projects have secured approval from the Board of Investment (“BOI”) in Thailand, which allows for 100% foreign-owned freehold land ownership and other various incentives, thereby expanding the potential investor base.

The successful fundraise marks a milestone in HOMA’s expansion. With the secured funds, HOMA is positioned to expand on its pipeline, which includes projects in Phuket, Bangkok, and the Northern Thailand region. HOMA currently has two operational projects – HOMA Phuket Town and HOMA Si Racha – in Phuket and Chonburi respectively, and two additional projects under development – HOMA Cherngtalay and HOMA Chalong Bay (under contract) – in Phuket. HOMA Cherngtalay, a 423-unit residential complex located within the bustling Cherngtalay/Bangtao Beach district on Phuket’s west coast, is scheduled to open by the end of 2023, while HOMA Chalong Bay is expected to open in early-2025.