Southeast Asia-based property developer Noon Capital has partnered with private real estate investment firm Asia Capital Real Estate to launch an up to US$150 million Thailand-focused real estate fund.

The fund's first project will be a US$25 million development in Phuket, and it has plans for at least six multifamily development projects in cities including Pattaya, Chiang Mai and Bangkok.

Noon Capital is also starting to use blockchain technology for its existing revenue generating and development projects. Noon Capital also plans to apply the process to its multifamily projects.