The manager of real estate trusts owned in part by billionaire Li Ka-shing is planning to double its asset portfolio in the next five years. ARA Asset Management Ltd says that it would be utilizing private funds to purchase more properties.
The firm manages a portfolio worth Sing$22.1 billion or US$17.7 billion through real estate investment trusts and funds. According to CEO John Lim, the company plans to expand through key acquisitions and the enhancement of existing properties. The company has six REITs listed in Hong Kong, Malaysia and Singapore and is now focused on expanding private property funds after it had attracted a large number of US pension investment firms.
Lim added, "Capital markets will continue to grow but I think there's more potential for us on the private markets side. If we continue to prove to the market that we can increase the assets under management, then the share price will continue to grow."
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