22 Oct 2017
Kunal Moktan is co-founder and Chief Investment Officer at Property Share, India’s first and leading fractional property ownership platform. He spearheads the investment team which sources, analyses, negotiates and executes property transactions for the platform. Kunal completed his MBA from the Indian Institute of Management, Ahmedabad in 2007 and was one of the 3 founding members of Blackstone Real Estate Partners’ India office, the world’s largest real estate fund with $100 billion assets under management globally. Kunal’s role required his constant involvement throughout all stages of the investment process.
In conversation with Dominic Rebello, Kunal reveals his vision of making Property Share the largest alternative investment management platform in the country.
What is the concept behind Property Share?
Disrupting how common people invest in real estate, Property Share is India’s first and leading fractional property ownership platform. It enables NRIs and Indian investors to partially invest in Grade A commercial properties rented to AAA multinational tenants with relatively smaller investment sizes. The platform is democratizing the commercial real estate investment market by keeping the minimum investment amount at INR 10,00,000, besides making the process simple, transparent and accessible to common people.
While granting complete ownership of an asset to its individual investors, the cutting-edge platform assumes the responsibility of end-to-end processes from sourcing, due diligence, paperwork, liquidity, asset management, to tenant search on their behalf. This ensures unmatched convenience to its users in booking, investment, maintenance, and sale of commercial property through a centralized and transparent platform. Property Share was formed in 2014 by me and Hashim Khan, collectively bringing onboard a strong IIT/IIM pedigree along with a core real estate investment background.
How big is the potential for a business like yours?
Real estate is a $300 bn opportunity in India and growing every year.
How do you plan to scale up?
Property Share will scale up by varying the type of listing (commercial, industrial, retail, hospitality, residential), cities (Top 10 cities followed by Tier II cities) and products (debt, equity)
Your vision for Property Share?
Property Share is aiming to become the largest alternative investment management platform in the country. Property Share aims to provide an average rental return of 7-8% and overall returns of 18-22%. It gives its users the flexibility to buy and sell their fraction individually without a lock-in, providing liquidity to an otherwise illiquid asset class. The platform is currently growing 100% month-on-month on AUM.
Where do you see yourself five years down the road?
In five years, Property Share hopes to become the largest alternative investment platform with AUM of more than $10 billion.