QIA-Ascott JV Purchase Tokyo and Paris Properties
Sovereign wealth giant Qatar Investment Authority (QIA) and Singapore-based CapitaLand, a listed real estate company, formed a joint venture in July 2015. CapitaLand’s unit called The Ascott Limited’s and QIA purchased two prime properties in Paris and Tokyo for US$ 104 million. The joint venture will invest an additional US$ 33 million to convert the five-storey Haussmannian-style building in Paris into a luxury-serviced residence. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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