GIC's Goh Says Wealth Fund Is `Underinvested' in Real Estate
- Singapore wealth fund has 7% of assets in real estate
- It can increase share of real estate to as much as 13%
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GIC Pte, manager of more than $100 billion of Singapore’s reserves, is “underinvested” in property and is interested in transactions of scale, said GIC Real Estate President Goh Kok Huat.
GIC has about 7 percent of assets in real estate, while it can invest 9 percent to 13 percent, Goh said Wednesday at a conference in Singapore. Given its size, GIC is focusing on larger, deeper markets and “gateway cities,” he said.