Press enter

World’s largest wealth fund plans huge Asian portfolio | 26 March 2014

The world’s biggest sovereign wealth fund, known officially as The Government Pension Fund Global, is planning to make a huge investment in Asian commercial property.

Based in Oslo, Norway, the $870 billion fund is built from Norway’s oil revenue. It is currently creating a large portfolio of properties in the world’s biggest cities, and now it looks as if Tokyo or Singapore could become the next area of investment, reports bloomberg.com. The fund has not invested in Asia before.

Karsten Kallevig, head of real estate investments at the fund, said there is no spending target, but that it could afford to “invest a lot” in Asia.

“When we say Singapore and Tokyo, we mean the better parts,” he explained. “My guess is office properties will be the main component, because that’s what’s for sale in those parts of town. There aren’t many shopping malls in the centre of Tokyo or the centre of Singapore.”

The fund already owns properties in cities including New York, Paris, Berlin and London, but it wants to invest in ten to 15 cities across the globe. In 2014, 2.2 per cent, or $18 billion, of the fund’s assets were held in commercial property, and it hopes to grow that percentage to five per cent, reports todayonline.com.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

Share this story
More News

Qube Global Software shortlisted as Property Management System of the Year | 22 July 2016

We are delighted to announce that Qube Global Software has been shortlisted in the Property Management System of the Year category at the Property Week Management All-Stars Awards 2016 in the UK.

Hermes Investment Management wins Property Manager of the Year Award | 20 May 2016

Qube Horizon client Hermes Investment Management has won Property Manager of the Year at the UK Pension Awards 2016.

Qube Global Software to exhibit and sponsor MIPIM | 1 March 2016

We are pleased to confirm that Qube Global Software will once again be sponsoring and exhibiting at MIPIM in Cannes, South of France.

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close