UOB, SoReal launch app to help SMEs buy commercial properties faster.
SINGAPORE - Small and medium-sized enterprises (SMEs) may now be able to invest in and get loans for commercial properties quicker, with a new mobile app by United Overseas Bank (UOB) and property portal SoReal Prop.
SMEs can search and get valuations for properties like offices and warehouses on the RealCommercial mobile app, which provides listings from SoReal, an online property platform founded by ERA Realty, Huttons Asia and PropNex Realty last year.
"From our experience in helping SMEs purchase their ideal commercial property, we know they want certainty and speed in theprocess," said Mervyn Koh, UOB's Singapore country head of business banking. "This means not having mismatched expectations in the property's valuation or the loan quantum, both of which could lead to the SME not being able to secure their desired property."
Adapted from The Straits Times 18 September 2019