Experts believe the move is opportune as the Singaporean sovereign wealth fund seeks to expand its positions in the country’s real estate and infrastructure sectors.
Fund managers and asset owners across Asia are open to investing into retail, opportunistic and distressed assets as they seek to offset generally declining property yields.
A new piece of research by the Urban Land Institute and PwC says global investors are keen to pour more funds into the region, due to its economic strength and good demographics.
Lately Korean investors have been struggling to compete with local players for assets in popular US property segments such as logistics and office space.
The big Canadian pension fund sees promise in the increasingly favoured region, while its even larger peer CPPIB has just agreed a new logistics tie-up in Indonesia.
Pent-up demand among Korean asset owners for overseas property is resulting in a rush for logistics deals, but there is less interest in office assets, even in prime locations.