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GIC looking to snap up more real estate assets
It's focused on large property markets.
GIC Pte, manager of more than $100 billion of Singapore’s reserves, is “underinvested” in property and is interested in transactions of scale, said GIC Real Estate President Goh Kok Huat in a report by Bloomberg.
GIC has about 7 percent of assets in real estate, while it can invest 9 percent to 13 percent, Goh said Wednesday at a conference in Singapore. Given its size, GIC is focusing on larger, deeper markets and “gateway cities,” he said.
“We would like to put up more money across the globe, but it really depends on whether we see those transactions that are interesting,” Goh said. “We don’t have the compulsion to push money out through the door.”
Read the full report here.
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