Allianz Real Estate has committed US$600m (鈧�535.5m) to funds to focus on developing and investing in logistics assets in China and Japan.
Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate, said: 鈥淲e continue to believe in the long-term fundamentals of the Asia-Pacific region. Logistics is a core part of our investment strategy and this opportunity will further diversify our portfolio.鈥�
He told 91传媒在线: 鈥淚n Asia, Allianz has exposure to logistics in China, Japan, India and Australia. We are exploring opportunities in other markets like Southeast Asia as well as South Korea.鈥�
On the new investment partnership with GLP, Desai said: 鈥淲e hope to scale up the partnership in markets where GLP has a strong presence. China, for example, is strategic to Allianz and where GLP has a dominant presence.鈥�
Ming Mei, GLP鈥檚 co-founder and CEO described the partnership as 鈥渁 strong strategic fit鈥� and said it leveraged Allianz Real Estate鈥檚 reputation and history as an investment and asset manager for real estate and GLP鈥檚 investment expertise, operational excellence and global scale.
Desai told 91传媒在线: 鈥淛apan is under-served in terms of modern logistics facilities. The growth prospects look particularly strong in Greater Tokyo and Osaka regions.鈥�
The latest investment deepens Allianz exposure to both China and Japan.
In 2017, Allianz invested US$100m in the Redwood Japan Logistics Fund II, managed by pan-Asian logistics group ESR, which earmarked a US$1bn investment in warehouses and other logistics properties in Japan.
Allianz already invests in commercial offices in China with Singapore鈥檚 Keppel Capital and luxury outlet malls through the China Outlet Mall Fund with Gaw Capital and Real Estate.
At the end of 2018, Allianz Real Estate had a global portfolio of 鈧�63.5bn with over 鈧�3bn in the Asia-Pacific region and over 鈧�5.5bn in logistics globally.
