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Strategic MOU targets a USD 300 million Multifamily BTR Fund, uniting South Korea's largest real estate asset manager with Asia's leading flexible living business — a ULI Award for Excellence recipient and Asia's Best Serviced Apartment operator.
SINGAPORE, May 26, 2026 /PRNewswire/ -- IGIS-X Asset Management Co., Ltd. ("IGIS X"), the institutional vehicle of IGIS Asset Management — South Korea's largest real estate asset manager with approximately USD 45 billion in AUM — and HOMA (www.homa.co), Asia's leading institutional-grade flexible living and build-to-rent (BTR) platform, today announced an MOU to establish HOMA Korea, a flexible living business targeting both asset-heavy and asset-light growth strategies across South Korea's under-institutionalised rental housing sector.
HOMA Korea will be structured through a Singapore-based joint venture asset management company. The partnership will scale into a formal Multifamily BTR Fund targeting an initial USD 300 million in commitments from international institutional capital, with first operations expected as early as Q4 2026.
"This partnership marks a pivotal step in institutionalising Korea's rental housing market. By combining IGIS X's local expertise and regulatory capabilities with HOMA's world-class platform, we are well-positioned to deliver institutional-quality BTR assets that meet the evolving demands of Korean renters."
— Jun Ho Pok, CEO, IGIS X Asset Management
"In 2017 we set out to build what institutional capital wanted in living-sector exposure: a proven brand, real operating data, and a platform that scales. Bringing HOMA to Korea through IGIS X's outstanding local platform is the natural next step."
— Blake Olafson, Co-Founder & Managing Director, HOMA
ADDITIONAL ANNOUNCEMENTS
COO Appointment: To lead the operational execution of its global expansion, HOMA has appointed Eric Schaffer as Chief Operating Officer. Mr. Schaffer brings over 17 years of experience across operational real estate, investment, and technology, including senior roles at essensys, WeWork, and Cushman & Wakefield.
HOMA MENAT: HOMA has separately signed an MOU to establish HOMA MENAT, a joint venture holding exclusive master franchise rights for the HOMA brand across the Middle East, North Africa, and Turkey, with first assets targeted for 2027.
About IGIS X Asset Management
IGIS-X Asset Management Co., Ltd. (www.igisxam.com) is a real estate investment and development firm and part of the IGIS Asset Management group — South Korea's largest real estate asset manager with approximately USD 45 billion in AUM. IGIS X combines institutional investment expertise with a specialisation in user-centric space planning and operations across residential, office, retail, cultural, and wellness sectors, operating across both domestic and international markets.
About HOMA
HOMA (www.homa.co) is Asia's leading institutional-grade living and build-to-rent platform. A recipient of the ULI Award for Excellence and Asia's Best Serviced Apartment 2025, HOMA operates more than 1,100 stabilised units across four properties in Thailand, with over 360 units under development. The HOMA brand is owned by an affiliate of ACRE (www.acremgt.com), a vertically integrated global multifamily firm with USD 5.2 billion in AUM, USD 8 billion in total capital deployed, and 45,000+ units transacted.
source: ACRE NOON PTE. LTD.
