Qatar Investment Authority, the Persian Gulf countrys $60 billion sovereign wealth fund, plans to invest in real-estate projects in Asian cities and said its considering buying distressed U.S. property assets.
We are focusing on prime cities in India, China, Singapore, Korea, Vietnam and Malaysia, cities around the world where there is strong GDP growth and fundamental unmet demand for high quality real estate, Navid Chamdia, head of real estate at Qatar Investment, said in an interview at a wealth funds conference in Abu Dhabi late yesterday. About 40 percent of our real-estate investments will be in Asia.
The Qatar Investment Authority has been investing in property in the past 2 1/2 years to diversity its holdings. The investments, either in developing new property or renovating existing buildings, will be made mainly through joint ventures with local partners, and they will have a long-term holding period of at least seven to 10 years, Chamdia said.
More : bloomberg.com
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