THE F•IO ENGINE
The methods that have valued real estate for a hundred years still do the work. We've rebuilt how they're applied — at asset-stack resolution, with continuous data inputs, signals that adapt as the market moves. Same fundamentals. New speed.
The five frames
Each offering passes through all five. The first three are RICS Red Book valuation lenses — Market, Income, Residual. The fourth is a regulator sense-check. The fifth synthesises everything into a band the investment committee signs off on.
We match your unit against similar recent sales in the same building — same line of units, same configuration, same size band.
RICS Red Book — Market Approach
Our primary lens. For every unit, we match against the tightest comparable group with enough depth to be defensible — then apply floor and view adjustments empirically derived from the underlying transaction data.
| Match tier | Definition | Typical depth |
|---|---|---|
| Stack — primary | Same building, same line of units across floors | 5–30 transactions over 36 months |
| Stack — bedroom × size band | Same building, same configuration, similar size | 10–80 transactions, the institutional standard |
| Building-wide | Same building, any unit, with size and floor adjustments | 50–300 transactions, the fallback layer |
| Master project | Cross-tower within development, same tier | Used for new launches without in-building history |
| Adjacent comparable | Same developer, same area, same tier | Last-resort fallback for fully new launches |
We fire the lens from the tightest comparable group with ten or more matches. Conditional-gate logic respects how tight the match is: a tight group (variance ≤ 25%) is gate-eligible; a moderate group (25–50%) is flag-only; a wide group (>50%) is reference-only. Below ten matches, the lens contributes nothing — we acknowledge insufficient data explicitly.
We compute net yield from real rental flows, real service charges, real vacancy. Gross yield misleads. We work in the net.
RICS Red Book — Income Approach
We compute net yield per unit from regulator-sourced rental flows and registered owner-association service charges. Gross yield is misleading — investor return is gross rent minus service charges minus vacancy allowance. We work in the net.
| Input | Source | Coverage |
|---|---|---|
| Gross rental income | DLD Rent Contracts register | Comprehensive across residential and commercial |
| Service charges per sqft | OA Service Charges register, 700+ projects | 18 categories, 2017–2024 historical depth |
| Vacancy allowance | Submarket-specific empirical | Derived from rent-contract roll-over patterns |
| Purchase price | DLD Transactions register | Match-specific, matched to stack |
We back-solve the implied land value: sale price minus construction minus profit. Then we compare it to what land actually trades at.
RICS Red Book — Residual Approach
A live sale price minus construction cost minus profit allowance returns the implied residual land value. We compare it to prevailing parcel transactions in the same area to see whether developers are paying above or below sustainable land prices.
We model a developer required IRR of approximately 25%. Where residual land value exceeds prevailing parcel prices in the area, supply expansion is incentivised. Where below, supply tightens. This is our primary cycle-stance signal at submarket level.
Recent regulator-issued valuations as a sense-check. The lens fires hard only when the comparable group is tight.
Fndation conditional-gate methodology
Recent regulator-issued valuations serve as our institutional sense-check. We use conditional-gate logic that respects how tight or wide the comparable group is — never producing a number we cannot defend.
| Match variance | Behaviour | Gate eligibility |
|---|---|---|
| Tight (IQR/median ≤ 25%) | Lens fires bands and gate condition | Yes — Buy block at +25% above median |
| Moderate (25–50%) | Lens flags deviation as supplementary signal | No — flag only |
| Wide (>50%) | Lens is reference-only; no band assigned | No — match variance too high |
| Insufficient (< 10 records) | Lens contributes nothing; absence acknowledged | No |
We meet on every offering. Nine dimensions reviewed across the investment committee. One band-scored verdict.
FIO Investment Committee
We meet on every offering. The Investment Committee synthesises lens outputs across nine dimensions, with hard gates on the ones where regulator-defensible thresholds matter most.
| Dimension | Band scale | Gate condition |
|---|---|---|
| Location | Above / In-line / Below market | — |
| Developer | Above / In-line / Below market | Below blocks Buy |
| Price vs Market | Materially Above / Above / In-line / Below / Materially Below | Materially Above blocks Buy |
| Macro Trend | Above / In-line / Below market | — |
| Liquidity | Above / In-line / Below market | — |
| Legal Structure | Above / In-line / Below market | Below blocks Buy |
| Token Governance | Above / In-line / Below market | Below blocks Buy |
| Market Research | Above / In-line / Below market | — |
| Access & Pipeline | Above / In-line / Below market | — |
We reject numeric 0–100 scoring as false precision — incompatible with RICS Red Book discipline on uncertainty disclosure. We work in bands. Hard gates cannot be overridden by any committee member, any platform feature, any user request.
The work
We don't publish what we can't defend. Every verdict carries methodology behind it. Every cycle read is signed by the FIO Investment Committee. Every developer assessment passes through five analytical lenses before it sees the page. We don't speed by skipping rigour. We speed by industrialising it.
Every record we use is sourced from official channels and validated before it touches the analytical layer. Twelve datasets. 3.7M+ records. Eighteen live endpoints. Nothing scraped, nothing borrowed, nothing assumed.
FoundationComparable transactions, investment method, residual method, DLD valuation cross-check, scorecard synthesis. Five frames. Every unit. Every time. The methodology that has held a hundred years, applied at the speed the new market moves.
DisciplineEvery published verdict is signed, dated, attributable. Four sub-committees — Valuation, Risk, Quant, Strategy. Twelve analytical lenses. One executive synthesis. No anonymous-by-AI calls. Conviction is owned.
AccountabilityTaking the wait off your investments. The first wave gets methodology preview, scorecard access, and a direct line to us.
No spam. We only get in touch about the platform launch and material methodology updates.