Briix Property Investment Platform Launches Presence [UPDATED]

Property investment is one of the asset classes that has had a lot of interest from the past, but the process has not been fully digitized, not to mention this is related to privilege. Seeing this problem, Briix made its presence official by offering a comprehensive solution through one application.

Prior to becoming a technology company, the people behind Briix had over a decade of experience in the real estate and property industries hospitality. The decision to enter the digital world is none other than because we want to democratize access to property investment for more people.

Briix founded in 2020 by Conrad Warren (CEO) and David Anderson (Chairman) in Bali. The process of preparing all the licenses needed as the foundation of the company is the reason why this startup has just been launched. One of the licenses that have been pocketed is the organizer of IKD at the OJK.

"Briix consists of three business units, property (Briix Property Management), finance (Briix Financial Services), and technology (Briix Financial Technology). We integrate the three as business pillars with the main aim of making property investment more efficient. So far this access "It can only be accessed by some people and we want to democratize it to more people," said Warren at the inauguration of Briix in Jakarta, Wednesday (5/4).

For the record, the property investment offered by Briix so far is for villas and condos with a total of 26 self-managed villas in Bali and Lombok. These two locations were chosen because they are tourist destinations that are visited by many domestic and international tourists, as well as locations that are of great interest to expats and locals to invest in property.

Briix business model

Through the Briix app, potential investors can fill in their information to gain access to loans and select currently available villa properties. Briix focuses on assessing the assets that potential investors want, not looking at the investor's financial capabilities.

If approved, then the team screening methods will contact potential investors. Because Briix has a license as a multi-finance company, potential investors will have the opportunity to get up to 70% loan to value (loan-to-value) with a tenor of 12 years and flexible bill payment options available.

At this initial stage, Briix is ​​only providing villa assets that the company manages itself to make it easier to assess the assets before they are opened to potential investors. Nevertheless, Warren ensured that in the future he would start to open up non-company property assets that could be managed and become investment areas for investors.

It even opens up the possibility of providing fractional ownership. Currently in Briix, one property asset can only be owned by one investor. "We are also considering entering fractional ownership into the pipeline."

Fractional ownership in real estate is dividing the purchase costs among several people, each having a percentage of ownership and a share of usage rights.

Briix also provides property management solutions. Later, every asset that has been funded by investors will be operationally managed, starting from orders on various OTA platforms, maintenance services, and so on.

"Investors can see day to day business regularly via the application, including viewing commissions from booking on OTAs, room rates, taxes, etc., all through the app. Previously in the property management business there was nothing like it."

One thing that is superior about the Briix solution is that it opens up opportunities for expats to invest in property legally in Indonesia. Although the process is not detailed, the Briix team will help them build a PT PMA before buying the property and having the status of Right to Use or Right to Build (HGB).

"We are regulated to be able to provide solutions mortgage for foreigners."

Warren calls Briix still bootstrap in carrying out its daily operations. According to him, with a business model like this, the company can achieve its target product-market-fit before moving forward, look for additional funding from VC.

-

*) We added the latest information about Briix which is licensed as a multi-finance company