Rushabh Desai, chief executive of Allianz Real Estate Asia Pacific, says for Singapore, the new fund will focus on investing in prime offices. It is keeping an open mind on the future of offices.
PHOTO: ALLIANZ REAL ESTATE
ALLIANZ has teamed up with The National Pension Service of Korea (NPS) to set up a property fund with US$2.3 billion equity. With leverage, the fund will have the capacity to invest in US$4.6 billion of real estate in the Asia-Pacific region.