Asian Property Fund launched by Injaz Mena
The launch of a $100 million Asian Property Fund was recently announced by Abu Dhabi-based investment bank Injaz Mena earlier this week. Plans to launch a real estate fund in the UAE soon were also announced by the bank.
The fund has been launched in association with Singapore-based fund manager AsiaEquity Partners Pte Ltd that has contributed $10 million to the fund, according to Gulf News. The first project financed through the fund is a commercial development in Singapore's financial district with an investment of $47 million.
"Middle East investors now have the opportunity to invest in commercial real estate in Singapore, Malaysia, Thailand and some other Asian cities through the new fund," said Ahmad Bin Ali Al Dahery, Chief Executive of Injaz Mena.
"Much of the overhand in commercial properties in markets like Hong Kong and Singapore has been absorbed and the ensuring demand for space in these two leading Asian econ-omies has spilled over into other regional markets like Kuala Lumpur and Bang-kok," he told a news conference.