DomaCom Australia Ltd (ASX:DCL) chief executive officer Arthur Naoumidis outlined the company’s products and services during the Proactive Revenue Webinar on Tuesday, March 30.
In the December 2020 quarter, the company progressed its revenue strategies and entered an agreement with leading Islamic finance group Crescent Group to deliver a much-needed housing solution to Australia’s 700,000-strong Muslim population.
DomaCom and Crescent Group have been working on a model which enables Australian Muslims to purchase a property with leverage using Islamic Finance while maintaining the familiar structure of a traditional home purchase.
The company plans to launch this product in the third quarter of this year.
Product-line expansion
Naoumidis spoke to investors about its two financial product lines – fraction investing and equity release, which allows retirees to sell a fraction of their home to investors to receive the proceeds either as a lump sum or a monthly payment to fund their lifestyle.
Domacom’s fraction investing product – which he said involves taking lumpy assets and dividing them into bite size chunks, started of with retail property and has since expanded to include farms, commercial, solar and loans.
With a market cap of around $26 million, he said the company was growing and he hopes the rate of growth continues to accelerate over the next few months.