About APIH

Established in 2015, APLUS Property Investment Holdings (APIH) is a cross-border real estate investment and advisory company with a focus on helping our clients navigate and invest the real estate markets of Japan and Taiwan.

We provide Real Estate Fund Management, Real Estate Investment Management and Project Advisory services based on our “Asset Plus” philosophy of value enhancement.

Management Team

Jeff Cheng


Mr. Cheng founded APLUS Property Investment Holdings in 2015 and serves as the COO. Mr. Cheng draws on his extensive experience in fund administration to manage the firm’s operations, investor relations and fundraising efforts.
Prior to his position as COO of API, Mr. Cheng served as a managing director of asset management at Xinhua Holdings Ltd. (TYO:9399) from 2009 to 2011. Jeff was responsible for the launch of several funds, including the Xinhua Blanc China A Share Quantum Fund and Xinhua Multi-strategy Hedge Fund. During his time as Managing Director, the Xinhua A50 China ETF (HKG:2823) reached an asset size of over 50 billion HKD, the largest A share index fund at the time. In 2007, Mr. Cheng founded Blanc Asset Management Ltd. As the managing director, he was responsible for the management of a 150 million USD fund and was able to achieve an overall positive return for investors.

Harvey Fang

Investment Director

Mr. Fang co-founded APLUS Property Investment Holdings in 2015 and serves as the Director of Investments. He is in charge of real estate investment analysis and project management. He also advises the COO on real estate investment decisions.
Mr. Fang holds both a bachelor’s and a master’s degree in economics from Simon Fraser University in Canada. Prior to founding API, Harvey was the director of Investment Services for NAI Taiwan where he engaged in cross border M&A and investment advisory projects in real estate and financial services. Prior to joining NAI, he was a financial consultant at Deloitte Taiwan, where he provided investment advisory services to leading domestic institutions and multinationals including Fortune 500 companies.

Horace Fang


Mr. Fang joined APLUS Property Investment Holdings in 2018 as the Chief Financial Officer and oversees the company’s finance, accounting and investor reporting functions.
Mr. Fang graduated from New York University’s Stern School of Business with a B.S. in Finance and Accounting and M.S. in Certified Public Accounting and is a New York State CPA (inactive). He began his career as an auditor in PwC’s Real Estate Practice in New York, serving both privately held and publicly listed clients in the real estate finance and investment industry. He later joined Fortress Investment Group’s Credit Funds as a fund accountant. During his employment at Fortress – now a subsidiary of the SoftBank Group Corp. (TYO:9984) – he focused on real estate and diversified opportunistic funds.

Joanne Chen

Senior Product Manager

Ms. Chen joined APLUS Property Investment Holdings in 2019 as the Senior Product Manager and oversees the company’s real estate market research and product management.
Ms. Chen holds an MBA from the National Taiwan University. Prior to joining APLUS, Joanne was the Product Manager of HSBC Global Asset Management in Taiwan.

Raymond Hsieh

Project Manager

Mr. Hsieh joined APLUS Property Investment Holdings in 2020 as a Project Manager and is responsible for business development, property sourcing, deal execution and project management.
Mr. Hsieh graduated from Ming Chuan University with a bachelor’s degree. He has 8 years of experience in the real estate industry, including 5 years of project management in real estate sales and marketing for a major Taiwanese developer and 3 years in Japan specializing in real estate development and hotel management.

Jim Chang

Project Manager

Mr. Chang joined APLUS Property Investment Holdings in 2016 as a Project Manager. He specializes in business development, project execution, and real estate advisory for overseas clients.
Mr. Chang graduated with a bachelor’s degree in Business Management from Ryerson University in Canada. He has ten years of experience in the real estate industry, his past experiences include brokerage and advisory services for global commercial real estate firms and project management for real estate sales and marketing firms.

Linda Hu

Senior Associate

Ms. Hu joined APLUS Property Investment Holdings in 2017 as the Senior Associate and is responsible for asset management, investment strategy and structuring, fund administration and accounting.
Ms. Hu graduated with a bachelor’s degree in International Business from National Taipei University Business School.