Singapore-based family office Ruifeng Wealth Management has invested SGD1.6m (USD1.21) in Indonesian proptech startup MilikiRumah, which focuses on rent-to-own housing. MilikiRumah is also close to finalizing a USD10m in property fund, expected by year-end, aimed at acquiring 2,000 homes for its programme. The firm, launched in Indonesia in Q2 2024, is co-founded by former PropertyGuru executives. It targets Indonesia’s housing gap by offering an alternative to mortgages, inspired by Singapore’s HDB model. With a focus on Greater Jakarta, MilikiRumah enables renters to eventually own homes, aiming to acquire 2,000 units by 2025. Similar rent-to-own models are emerging across Southeast Asia and the US.