Black Spade Capital, the family office of Macau casino operator Melco Resorts & Entertainment’s chairman Lawrence Ho Yau-lung has invested in IFCX, an international real estate brokerage holding company based in Asia.
The real estate group announced that its investment will drive over $5 billion in Asian real estate across the Middle East, Vietnam, and Thailand over the next five years, without disclosing the exact amount.
IFCX underlined that the collaboration with Black Spade Capital is designed to enhance the company’s capabilities in the global real estate market.
The partnership aims to expand IFCX’s integrated platform, which includes Asia Bankers Club, a B2C investor consultancy, Knightsbridge Partners, a B2B master agency network, and Easy Pro, a property aftersales solution.
The investment will also facilitate advancements in proptech AI, focusing on developing platforms for digital transactions, predictive market analytics, and investor engagement tools.
Kingston Lai, Founder and CEO of IFCX, stated, that “the Middle East, Vietnam, and Thailand represent significant opportunities for our partnership”.
“With Black Spade’s backing, we aim to expand our operations and improve how real estate transactions are conducted globally”, Lai noted.
Since its establishment in 2014, IFCX has connected Asian investors with global real estate opportunities, partnering with developers in markets such as Thailand, Vietnam, and the UK, and more recently in the Middle East.
Last year Black Spade Capital Limited also sponsored Black Spade Acquisition II Co, a special purpose acquisition company (SPAC), which raised $150 million in its initial public offering (IPO) on Nasdaq.
The company plans to use these funds to acquire businesses in the entertainment, lifestyle, and technology industries, particularly those related to artificial intelligence.
In February of this year Black Spade also announced that its subsidiary, S Experience, had signed a memorandum with Kingsmen Xperience, “to develop location-based branded attractions in Asia Pacific,” with an initial focus “on Macau, the Philippines, Vietnam and Thailand.”
