Pindan Capital expands
Perth based development and property funds management business Pindan Capital is expanding and has opened new offices in Sydney and Shanghai which supports its long term strategy to pursue investment opportunities outside of Western Australia.
Pindan Capital is part of one of Western Australia’s leading property and construction companies, Pindan.
General Manager at Pindan Capital Mr Scott Davison said “Pindan’s fully integrated approach has seen it become a leader in the West Australian property and construction industry over the past 38 years.”
“Pindan’s ability to completely manage and develop a project from acquisition, capital raising, design and construction, to project marketing, sales and asset management is second to none.”
“While the majority of Pindan’s operations will continue to be based from our Belmont head office, close to the Perth central business district, we are excited to announce Pindan Capital’s expansion into the eastern states and the establishment of Pindan Capital’s first international office.”
Pindan Capital’s eastern states office located in Sydney, opened in mid-January and will be managed by Scott Staniforth, Pindan Capital’s General Manager of the eastern states.
Mr Staniforth, a former Western Force and Australian Wallabies rugby player joined Pindan Capital in 2011 and has returned home to oversee the east coast operations and will be supported by a team of local staff.
“Scott has the knowledge and experience to help source and secure sound local development opportunities and core fund assets throughout Australia including raising equity for investment into our various property funds.”
Coinciding with the opening of Pindan Capital’s Sydney office, Steven Pringle has been relocated from the Perth headquarters to Shanghai to fill the new role of China Regional Manager and to establish a permanent Chinese presence for Pindan Capital.
Mr Davison said “although Pindan has been active in China since 2006 the funds management business has increased its focus on international equity raising in the greater Chinese market during the past three years.”
“Over 25% of the external equity investment currently raised by Pindan Capital is derived from overseas, with a significant portion of this from our Chinese investors.”
“As we have already spent a lot of time in China over the recent years establishing a permanent office was the next step to support the growth and further promotion of Pindan Capital’s Australian operations to the Chinese investment market.
Mr Pringle will work with a number of local Chinese staff to establish new investor contacts and maintain existing client relationships with support from staff at Pindan Capital’s head office in Belmont.
Pindan is a highly awarded privately owned Western Australian integrated property and construction company established in 1977 with over 450 directly employed staff. Pindan is recognised as one of the largest multi-unit builders in Australia with an anticipated annual turnover of A$650m this financial year.
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