LaSalle raises $3 bln Asia property fund

Awards

LaSalle Investment Management has raised a $3 billion “opportunity” fund for Asian property, saying it is interested in investing in Japan, China and South Korea.

The fund management unit of property services firm Jones Lang LaSalle said in a statement on Friday that the fund would use borrowing to boost its spending power to as much as $12 billion. The company told Reuters in June that it expects assets under management in Asia to double in the next three years from about $11 billion now. “Asia remains a key strategic priority for our business and we have a very active plan to grow our operations in the region,” LaSalle’s managing director Philip Ling said in the statement. “We see a lot of opportunity in Japan, which contains 50% of the total value of real estate in Asia, although we also see opportunities in Korea, China and elsewhere in Asia Pacific.” (Reuters)

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.