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Norway wealth fund has not found attractive property investments in Tokyo, Singapore: CEO
[OSLO] Norway's US$935 billion sovereign wealth fund, the world's largest, has not found suitable real estate projects in Tokyo and Singapore, despite long-standing plans to invest in the two Asian capitals, the fund's chief executive said on Tuesday.
"We do not see attractive property projects in Singapore and Tokyo today," Yngve Slyngstad said during a hearing in the Norwegian parliament's finance committee.
In recent years the fund has bought billions of dollars worth of real estate in European and US cities, including London, Paris and New York.