ARA CEO plans to dou­ble as­sets

The Pak Banker - - 6BUSINESS -

HONG KONG: ARA As­set Man­age­ment Ltd. (ARA), a man­ager of real es­tate trusts partly owned by bil­lion­aire Li Ka- shing, wants to dou­ble as­sets un­der man­age­ment over five years as its pri­vate funds buy more prop­er­ties. ARA, which man­ages about S$22.1 bil­lion ($17.7 bil­lion) of as­sets through real es­tate in­vest­ment trusts and funds, plans to ex­pand with ac­qui­si­tions and en­hanc­ing ex­ist­ing prop­er­ties, Chief Ex­ec­u­tive Of­fi­cer John Lim said in an in­ter­view yes­ter­day. Its real es­tate funds, which make up less than a third of as­sets man­aged by the Sin­ga­pore-based com­pany, are ex­pected to in­crease to half in five years, he said. With six REITs listed in Sin­ga­pore, Hong Kong and Malaysia, ARA now wants to fo­cus on ex­pand­ing its pri­vate prop­erty funds af­ter at­tract­ing the largest U.S. pen­sion in­vestors. The stock rose 2.5 per­cent to S$1.85 at the close in Sin­ga­pore, the big­gest gain in five weeks. That ex­tended the year’s in­crease to 14 per­cent, more than twice the 5 per­cent ad­vance in the in­dex track­ing the city’s REITs.

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