Treasure Homes Limited, Auckland
Auckland-based building company Treasure Homes has a strong, ongoing relationship with ASAP Finance. Director Jacky Li of Treasure Homes has 14 years in the building trade, with plenty of experience with single house builds, terraces, and commercial buildings across Auckland. After graduating from Tianjin Chengjian University, Li established Treasure Homes as a building company in 2010.
Treasure Homes initially focused on producing stand-alone houses, but in 2019, the company changed direction to include Multi-Units and Terrace Houses. With housing affordability front of mind, the Government has been encouraging developers to increase housing supply and density. The relaxation of the Auckland unitary plan rules in 2016 was a big step forward in unlocking development potential for many sites across Auckland and Treasure Homes saw an opportunity to become a builder of choice in the fast-emerging Terrace Housing market.
With new opportunity came new challenges. The move into terrace townhouse developments meant larger value contracts – Treasure Homes needed to ensure that its clients projects were fully funded and had sufficient cashflow to take the project to completion.
“ASAP Finance is an essential partner for us, providing funding for many of the projects we work on. Certainty of funding was an extremely important part of our growth – we had a huge influx of customers contacting us to help them demolish existing houses, upgrade infrastructure, and build terrace homes. ASAP took the time to work through the development budget in detail with us and the client. This built confidence within the development team and set a solid foundation for a successful project”.
Li points out that many of the company’s new developments come from the ASAP Finance’s customer network. This has allowed Treasure Homes to provide better services and higher quality homes to Kiwis, establishing Treasure Homes as a leading construction company in the market. As a result, Treasure Homes has also been able to provide an “On Time, On Budget” one-stop solution for clients.
Armed with the support of ASAP Finance’s funding line, market knowledge and network connections, Treasure Homes has continued to expand their presence in the development of Townhouse-type projects.
“Last year we decided to further our relationship, shifting from being a builder for ASAP’s client to undertaking our own developments”.
As a developer, Li says his company coordinates first with ASAP Finance before buying any development sites.
“Consulting with ASAP from early stage is crucial in laying a solid foundation for a project. Building a robust feasibility is one the most important parts of a project and we do this with ASAP’s guidance. Once we understand that we will gain a reasonable profit on the project, a funding package is prepared by ASAP, we can then move forward with confidence, knowing that ASAP will take our project to completion”
In this partnership with Treasure Homes, ASAP’s funding packages run from the feasibility stage through to construction. Li says Treasure will also discuss the subdivision plan to find out which option is the most efficient way of developing the project with the lowest risk.