ING Real Estate Targets Asia

Thursday, February 16 2006 @ 03:50 PM UTC

Contributed by: jron

On Thursday, ING Real Estate announces its plans to launch 2 property in Asia this year. Growing institutional investor interest in real estate in the region is their main focus to underscore.

"the first fund is a closed-end, US$300 million China fund that will invest mostly in development projects in the mainland. The fund will have a life of five to seven years and will likely be ready to start investing in the second quarter of this year." An ING spokeswoman said Thursday.

"We are considering our options against what would be best for our business and our clients," She declined to provide details for their secound funding.

ING officials at a property seminar organized by the Real Estate Developers' Association of Singapore on Wednesday, they've plan to disclose the plan to launch the 2 funds.

Over US$1 billion worth of assets in Asia and is one of the world's largest property fund managers in terms of assets, that the ING Real Estate, the property arm of the Netherlands' ING Group (ING).

By: Dijon Wainwright