Qatar sets up $600m fund with Singapore's Capitaland

14 July 2015

Real estate investment fund to focus on Asia and Europe

  • Qatar Investment Authority and Singapore’s Capitaland establish a joint venture to invest in serviced residences
  • Each party will contribute $300m to the investment fund
  • It will focus on Europe and Asia Pacific at first

Qatar Investment Authority (QIA) and Singapore’s Capitaland have set up a $600m joint venture to invest in fully-serviced residences.

QIA and the Ascott Limited, Capitaland’s serviced residence subsidiary, will each contribute $600m of equity.

The investment fund will focus on Europe and the Asia Pacific region. It will invest in serviced residences or rental housing properties, for a term of 10 years with an investment period of three years.

It will look at development, redevelopment and turnkey opportunities, as well as acquire projects for improvement or conversion into serviced residences.

Capitaland aims to establish a further five investment funds with $7.3bn of assets under management of by 2020.

QIA has been looking to Asia and Asia Pacific for investment opportunities in the last year, investing in Hong Kong and Australian real estate as well as a Hong Kong power company.

QIA has $256bn of assets under management, according to the US-based Sovereign Wealth Fund Institute.

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