NOVA Property Investment Co., Ltd. (NOVA) was founded in 2015 by Mr. Wang Qian and strategic investor Warburg Pincus. In 2016, NOVA completed the equity acquisition of Yicheng Creative, a real estate renovation and value-add service provider, and in doing so integrated its professional experience into the NOVA model acquisition, renovation, operation and asset management. In 2018, The Government of Singapore Investment Corp. (GIC) and NOVA officially signed Shareholders Agreement.
With its strong capital and operational capabilities, NOVA has rapidly developed its portfolio of assets in China’s first-tier cities. NOVA’s focus is to invest in assets in prime locations and then tailor the renovation of the apartments, offices and retail to suit the local landscape. When completed, the properties are internally operated and asset managed. An expertise in product innovation and multi-format operations is one of the core competencies that set NOVA apart from its peers.
Currently, there are 41 projects operating or under constructing with a total investment value of nearly RMB 12 billion and a project area of 400,000 square meters. The projects are in the first-tier cities of Shanghai and Beijing. NOVA’s operating brands include BASE and N² Creative and Yixi. NOVA’s aim is to build brand alliances to meet the diverse needs of different markets and targets.
NOVA now has more than 180 employees. Its main partners include Vanke, Infrared NF Greater China Real Estate Fund, Sino-Ocean Real Estate, China Jingu International Trust Co., Ltd., TIANTONG CHINA, SUNAC, and the Gold Bund Group. In November 2017, NOVA and the BMW Group’s MINI brand collaborated to create the world’s first MINI shared urban space – MINI LIVING.