24 July 2019

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Dutch institutional investment manager, Bouwinvest, has invested US$100 million (€88 million) in a portfolio of offices in metropolitan areas in Asia-Pacific under its international mandate for the region from bpfBOUW, the Dutch construction workers pension fund. The portfolio comprises office buildings in Tokyo, Osaka, Hong Kong, Seoul and Auckland.

The investment was made in partnership with other institutional investors and will be managed by PAG Real Estate, the Hong Kong-based investment manager. Together, the parties have invested nearly US$700 million (€615 million) in 26 office buildings and a comparable volume will be invested in more assets in coming years. The largest investment in the portfolio is the International Trade Tower office building in Hong Kong, Kowloon East, a high-quality office building with solid rental potential.

Tjarko Edzes, Bouwinvest Director Asia-Pacific Investments, said: “This investment fits our Asia-Pacific portfolio really well and is the latest step in our ambition to increase our exposure to offices and create a well-diversified international portfolio with a good sector mix. The investment strategy is focused on liquid markets and office buildings that generate an attractive cashflow with potential for growth. We aim to grow international investments to 40% of our total portfolio in the next few years  after opening a regional office in Sydney earlier this year. With this latest investment we are moving in that direction.”

Photo: Project Autumn, Hong Kong