Faster Enterprises Limited announced that it has entered into a Strategic Alliance Agreement with Synergy Solution Management Group Limited to explore the investment opportunities in the development of steel framed modular real estate projects and assess the potential of establishing a tenancy management business for steel-framed modular real estate, serviced apartment hotels, and co-living apartment projects. Under the agreement, Faster Enterprises plans to act as a development manager for a series of prefabricated real estate projects in Melbourne by capitalising on the advantage of steel-framed off-site building technology. Synergy Solution intends to act as co-investor, investment manager and fundraising solution provider for those projects and arrange the cross-border investment from selected China-related institutions and investors wishing to have access to the Australian steel framed prefabricated real estate project opportunities. The investment enters into the projects either through a Special Purpose Vehicle (SPV) or Managed Investment Scheme (MIS) structure. Synergy Solution and Faster Enterprises will assess the potential of forming a tenancy management and hotel management Joint Venture (JV) in Melbourne. Synergy Solution intends to incorporate its tenancy management experience into the JV while Faster Enterprises plans to entrust the JV to manage its current and proposed commercial and hotel projects (Faster's Projects). The alliance aims to optimise the rental return of Faster's Projects and build up mature third-party tenancy management capacity in Melbourne. Subject to further discussion, it intends that 51% equity of the JV be held by Synergy Solution and the remaining 49% equity to be held by Faster Enterprises.