News

German insurer’s $392 million Allianz in Singapore property

Allianz buildingAllianz Real Estate is set to acquire a 20% stake in Ocean Financial Centre, marking its first involvement in Singapore’s property market. The S$537.3 million ($392 million) purchase of the A office tower, is from Keppel Real Estate Investment Trust (Keppel REIT). The 43-storey building is located at the intersection of Singapore’s Raffles Place and Marina Bay financial precincts. The investment is part of the German insurer’s strategy to allocate between 5 and 10% of its real estate deals to the Asia Pacific region. Rushabh Desai, Asia-Pacific chief executive officer at Allianz Real Estate, said: “This transaction is aligned with our approach of creating a quality portfolio of core assets in 24×7 cities.” The Singapore office market is experiencing strong rental growth. “From an occupational cost and efficiency perspective it continues to be favourable vis-a-vis other comparable markets like Hong Kong,” added Desai. Singapore was ranked as the second top real estate investment market in Asia Pacific, according to a report published earlier this month by consultancy PwC and the Urban Land Institute. Its attractiveness in this area was mainly due to an improvement in its office market. ©2018 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.