The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
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
Sunsuper and QSuper appoints CIO for combined entity; State Street appoints heads of HK and Taiwan; Nothern Trust rebuilds Apac team; Manulife IM names emerging markets fixed income CIO; RBC Wealth Management hires four into HK; Lombard Odier hires two senior equity managers; Allianz Global Investors appoints Asia hand as equity CIO; and more.
Investors from China and the US are expected to continue buying assets in each other’s markets despite the blacklist of Chinese firms with military and surveillance ties.
Stronger government actions are needed to meet the Paris Agreement goal of limiting global temperature rise to 1.5 degrees, investors such as Hesta and CDPQ signed in a statement.
AsianInvestor explains why we chose the winners of the second half of our 2021 fund manager winners, by major local markets.