The world's biggest public pension fund, Japan's Government Pension Investment Fund (GPIF), with a pool of US$1.1 trillion might begin purchasing real estate. GPIF would do the procedural measure to boom returns. The earnings would consist of tens of billions flowing into metropolis like London and Paris. The announcement came from CBRE CNG.N's property consultant.
Japan's GPIF would do the venture with the hope to upsurge revenue that could revive the economy. Prime Minister Shinzo Abe's economic course of action directly reflects the said move.
"It is striking just how much larger GPIF is than any of the word's other pension funds ... Therefore, if it ultimately expands its remit to include international real estate, it could become a very significant player," CBRE stated.
Simon Barrowcliff from CBRE said the usual property allocation for an account that was about to enter the market would be 5% to 10%. This further denoted that about US$100 billion of deals in major cities like London, New York or Paris could be earned.
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