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Norway's wealth fund looking to stock up on Asia properties

US$870b fund has narrowed search to Singapore and Tokyo, possibly in office properties

Published Mon, Mar 23, 2015 · 09:50 PM
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Oslo

NORWAY's wealth fund is making final preparations for its first Asian real estate investment as it builds a portfolio of properties in the world's biggest cities.

After scouring Asia for investment opportunities, the US$870 billion fund, built from Norway's oil revenue, has narrowed its search to Singapore and Tokyo, said Karsten Kallevig, head of real estate investments at the Oslo-based fund.

"Tokyo is arguably the single biggest market in the world for real estate," he said in an interview last Frid…

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