Investment Strategy

	Open-ended Fund	Lease-type Fund	Public Financed Large-scale development Fund	Foreign Real Estate Direct/Indirect Fund	Development Fund
Strategy	Utilize Mplus network and experience Establish the fund only after conducting in-depth due diligence around business feasibility	Uncover various real estate opportunities (business, residential, commercial, industrial, leisure, etc.) Simple rental managing value-add strategy structure	Mplus synergy effect Secure anchor tenant in advance to minimize risk	Enter the market through JVs with overseas reputable real estate asset managers Focus on both early stage indirect investments and mid stage direct investment	Build products by structuring various types of funds
Investing Structure	Establish development SPCs with financial institutions Set up senior loan /mezzanine funds	Direct purchase of real assets Broaden investment opportunities through acquiring minority interest in companies with real assets	Participate as a financial investor in a consortium formed by other asset managers	Initially, co-investment in indirect products with excellent track records In mid-stage, acquire real assets or invest in development projects
Opportunity	New capital demand incurred due to introduction of post-sale system Expertise compared to traditional asset management companies	Enter into a stable rental lease contract Long-term contracts over 3 years preferred	Increase in urban development projects with private sector participation opportunities Expansion of fund size by participating in large-scale projects	Demand is expected to increase in line with the government's policy to promote overseas investment Possible Potential to link various overseas business	Satisfy investor needs through various diversified investments
Risks	Development-related risks (site purchase, dispossession, business license, sale, post-sale follow-up, etc.)	Excessive purchase price from heightened competition could lead to permanent impairment of capital Prolonged vacancy risk and exit risk at maturity	Various risks related to development projects such as sale risks Extended payback period	Risk of local economic fluctuations and policy changes Exchange rate risk, other risks arising from difficulty in direct management	Concerns about declining returns when risk hedge is put in place