Norway oil fund to enter Asian real estate market

Oslo

TARGETING an investment horizon of "forever", Norway's US$860 billion oil fund plans to enter the Asian real estate market next year and aims to broaden its asset range to include anything from new developments to refurbishments, it says.

Stepping up its activity after a gradual start and aiming to invest around US$8-10 billion a year, the fund will also do more property deals on its own as it struggles to find partners with deep enough pockets, Karsten Kallevig, its real estate chief, told Reuters on Friday.