Wednesday 26 September 2018 ,
Latest News
  • Rising temperature to affect 134m people in Bangladesh: WB
  • PM urges int’l community to ensure easy transfer of technology
  • US stance on Rohingya not strong enough, activists say
  • Trump, Rouhani exchange threats, insults at UN
  • 'US report proves urgent need for Rohingya justice mechanism'
8 December, 2017 00:00 00 AM

Print

World's biggest sovereign fund enters Asian property market

AFP

AFP, OSLO: Norway's sovereign wealth fund, the world's biggest at more than $1 trillion, has made its first investment in the Asian real estate market, the Norwegian central bank said yesterday. The fund, which has already invested in property in Europe and North America, paid 92.75 billion yen ($887.5 million) for a 70 per cent stake in five commercial buildings in Tokyo.

"This is the fund's first real estate investment in Asia and is in line with our strategy to build a high-quality, global portfolio," Karsten Kallevig, the head of the fund's real estate management, said in a statement.

The remaining 30 percent were acquired by Tokyu Land Corporation. Real estate accounts for 2.5 per cent of the fund's overall investments.

Intended to finance Norway's welfare state when the country's oil wells one day run dry, the fund mainly invests in stocks (65.9 per cent of the portfolio) and bonds (31.6 per cent).

Comments

Poll
Today's Question »
Attorney General Mahbubey Alam has alleged that former Chief Justice Surendra Kumar Sinha has tarnished the image of the country's judiciary. Do you agree?
 Yes
 No
 No Comment
Yes 6.0%
No 94.0%
No Comment 0.0%
Most Viewed
E-Paper

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting