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Singapore Sovereign Wealth Fund Allocates to Indonesian Real Estate

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Singapore’s GIC Private Limited and Rajawali Group, one of the biggest investment companies in Indonesia, have penned a Memorandum of Understanding (MoU) to jointly invest up to US$ 500 million in equity toward property developments in Indonesia. The focus will be on developments in central business districts throughout Indonesia. Types of real estate will include office, retail, residential and mixed-use developments.

See the Institutional Investor Profile of Singapore’s GIC Private Limited

The GIC and Rajawali have worked together in the past. Both entities worked on the development of a 47-story grade A office tower, called Capital Place, in Jalan Jenderal Gatot Subroto in Jakarta.

In a press release, Loh Wai Keong, Co-Head, Asia, GIC Real Estate, commented, “We are pleased to deepen our relationship with Rajawali, one of the leading investors in Indonesia. GIC is confident in Indonesia’s long-term growth potential and believe we can create value through the acquisition of assets in prime locations and active asset management. An integral part of our investment strategy is to build long-term partnership with reputable local partners with strong track records like Rajawali, who also share our investment values.”

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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