MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
At the same time, RREEF has announced that it will buy a 60% stake in a mixed-use property development in Hyderabad, where it will partner with NCC Urban. The project is located close to the international airport. It will take five years and will consist of commercial, residential and hotel space. This will complement its first Indian property venture, a $70 million stake in developer Golden Gate Properties.
ôClients still have a strong interest in India, but they are mindful that returns have to be risk adjusted," says RREEF Asia-Pacific CEO Kurt Roeloffs.
And what about the atrocious state of Indian infrastructure? Even if billions of dollars are poured into Indian property projects, the country is still lacking in suitable infrastructure.
ôThere are lots of gaps in infrastructure and it will take years to fill them,ö adds Roeloffs. ôYou canÆt just invest in good real estate projects without looking for the related stresses and strains in infrastructure and how that affects the urban geography. Every project has to take this into consideration.ö
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.