News

Allianz and Gaw’s premium Singapore office acquisition tops $1bn

SingaporeAllianz Real Estate and Gaw Capital have joined forces to acquire the office and retail units of the DUO developments in Singapore for $1.15 billion. The pair are purchasing all the shares in Ophir-Rochor Commercial Pte Ltd, a wholly owned subsidiary of M+S Pte Ltd, which is the joint venture between Malaysia’s Khazanah Nasional and Singapore’s Temasek. Allianz will own a 60% interest while Gaw Capital will own the remaining 40%. The German insurer’s real estate investment manager and the Hong Kong private equity firm will jointly manage the asset. The commercial asset includes more than 557,000 square feet of premium grade-A office space, as well as more than 59,000 square feet of retail space. “Singapore is an established 24/7 city and has one of the most institutionalised commercial real estate markets in the world given its position as a key headquarter location for corporations in Asia,” said Rushabh Desai, chief executive for Asia-Pacific at Allianz Real Estate. “M+S has done an impressive job of delivering DUO as a marquee, mixed-used development providing an unparalleled live-work-play environment and is poised to establish itself as one of Singapore's key business hubs. It will be an excellent addition to our global 24/7 cities office portfolio,” added Desai. ©2019 funds global asia

Sponsored Profiles

Sponsored feature: Asset allocators – How do you track your decisions?

Apr 06, 2020

Mark Barry, Head of Asset Allocation at Milestone Group, explores how a simple question can highlight opportunities to automate and streamline your asset allocation investment process.

Sponsored feature: How is DLT changing the global securities services landscape?

Oct 17, 2019

By Jeslyn Tan, global head of product management, securities services, at Deutsche Bank

Sponsored feature: A new base for fund distribution

Oct 16, 2019

To get the most value out of the digitisation of investment fund distribution, a blockchain-based infrastructure is fundamental. By Olivier Portenseigne, Managing Director and Chief Commercial Officer, Fundsquare.

Sponsored profile: Bridging the gap

Mar 11, 2019

Private equity is a core part of the business for Caceis’ Hong Kong office, which looks after clients in China and Europe. David Li, chief executive officer, explains why private equity enjoys strong client demand and how it is being used to fund China’s international infrastructure ambitions.

Executive Interviews

Executive interview: Understanding geographies

Apr 06, 2020

Margaret Harwood-Jones, co-head financing and securities services at Standard Chartered, shares her insights on platform standardisation, opportunities in Asia and regulatory change to encourage...

Executive interview: ‘Bull markets don’t die of old age’

Dec 12, 2019

Having a balanced portfolio in the midst of the longest expansion in history is an investment imperative, Chris Alderson, co-head of global equity and head of international equity at T Rowe Price...

Roundtables

Hong Kong roundtable: A ‘fragile Goldilocks situation’

Apr 06, 2020

With the global economy at a crossroads, our panel of experts share their thoughts on the market conditions, geopolitical volatility and growth opportunities. Chaired by Romil Patel in Hong Kong.

Singapore roundtable: A horizon to hold long-term assets

Dec 12, 2019

Panellists discuss the geopolitical fractures concerning asset owners, Singapore as a hub for fintech start-ups and why it makes sense to raise capital from a Variable Capital Company (VCC). Chaired by Romil Patel in Singapore.