In September 2016, the Group incorporated Propeterra, which it intends to build into an international real estate brokerage and advisory business. The Directors expect Propeterra to initially be driven by expansion of the Group's real estate market research beyond Mongolia and Myanmar into the following 13 additional emerging and frontier market territories: Russia, India, China, Vietnam, Cuba, Thailand, Romania, Brazil, Sri Lanka, Kazakhstan, Cambodia, Montenegro and Indonesia.
Research will focus on property level data and trends, as well as tax and legal considerations in each jurisdiction. The Directors have recently hired a global head of research with a research and business development mandate. In addition to providing expanded coverage, the Directors expect Propeterra will facilitate further sales and, eventually, delivery of related real estate advisory services to high net worth and institutional clients from countries worldwide.
Propeterra will rely on internal research to inform its views on a given market and the potential attractiveness of any specific project. This will include advice with respect to developer reputation, project location, development quality, local market dynamics and anticipated project risks and returns. Investment opportunities will be sourced through the Group’s relationships, referrals and our existing developer networks, website leads and research driven business development. This will be supplemented by the Group's existing sales and business development in offices in London, Hong Kong, Singapore and Mongolia.