Phoenix Property Investors keen on boosting investments in SE Asia and Singapore

HONG KONG-BASED Phoenix Property Investors, a private equity real estate firm with assets managed and under management in Asia of over US$6.7 billion, is looking to increase investments in South-east Asia property markets including Singapore.

"The company is expanding its investment footprint from North Asia, particularly Hong Kong, Japan and China, to the South-east Asia region," Phoenix said in a news release on Monday.

In South-east Asia, the group is setting its sights on Jakarta and Manila, cities where it believes the demographics are strong fundamental drivers for real estate, as well as selectively in Singapore.

Current investments in the region include three pairs of shophouses at 48-56 Peck Seah Street in Singapore; Tomang Park, a high-rise residential development in Tomang, Jakarta; and Century Spire, a high-end residential and office tower in Manila.

Phoenix's co-founder, managing partner and chief investment officer, Samuel Chu, said: "We are very bullish on the long-term potential of South-east Asia's real estate markets and will be raising our portfolio allocation to the region. Most countries in South-east Asia are bucking the ageing demographic trend as well as rapidly growing its middle-class population, both of which bode well for the property sector."

He added that Phoenix is keen to invest further in Singapore, targeting high-end residential and prime office assets here as it believes the bottom is near for these two segments and quality assets obtained at a reasonable value will do well when the market picks up in the medium term.

Since its inception in 2002, Phoenix has raised about US$2.5 billion of equity for property investment and development opportunities in the residential, retail, office and commercial sectors.