Norway’s Government Pension Fund is a large investor in stocks and bonds globally, and plans to expand its real estate investments to Asia in the coming months.
A Norwegian fund, the US$819 billion (S$1.2 trillion) Government Pension Fund, has its eye on properties in Singapore and Tokyo, a key executive said, according to a Reuters report. It is the world’s biggest Sovereign Wealth Fund managed by Norges Bank Investment Management.
“It’s hard to say exactly when the first investment will come, but we’re hoping for 2015 or early 2016,” Nina Hammerstad, the fund’s chief operating officer for real estate, told a business seminar in Norway. Chinese real estate is not on the fund’s agenda for the time being, she added.
The fund, built on revenues from Norway’s oil and gas production, hopes to expand its real estate portfolio to Asia.
It has bought properties such as shopping malls and office blocks in major cities in Europe and North America, but now aims to have 5 per cent of its portfolio taken up direct real estate investments.
For more information, visit Reuters.
If you enjoyed this article, you might be interested in Singapore investors still buying into overseas real estate and 9 things to consider when buying your second property.
Find the home of your dreams today at Singapore’s largest property portal, 99.co!
About 99.co
We are a property search engine with the overarching goal of building a more transparent and efficient property market. We are working towards that future by empowering people with the tools and information needed to find a place to live in the best way possible.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!
Facebook | Instagram | TikTok | Telegram | YouTube | Twitter
Leave a comment