ASEAN Fund Plans to Invest in Vietnam

On 17 July, Ascendas - Asia’s leading business space solutions provider, announced the first closing of its Ascendas ASEAN Business Space Fund (“ASEAN Fund”) at US$200 million. The ASEAN Fund is expected to invest up to US$1 billion, primarily in the key re-emerging markets of Vietnam, Malaysia and the Philippines.

Specifically, it will invest in a portfolio of assets such as central and suburban office space, technology-related facilities, as well as science, biotech and IT-related assets. The Fund also plans to invest in mixed development projects, and industrial and logistics facilities.

Mr Roger Keane, GE Real Estate’s Managing Director for Southeast Asia said, “The Ascendas Fund offers exposure to attractive markets like Vietnam, Malaysia, and the Philippines - three countries that GE Real Estate has identified as growth opportunities for our investment. By investing in this Fund with a trusted partner, we are growing and diversifying our portfolio at a decreased level of risk.”