News

Allianz takes £310m stake in Singapore’s Ocean Financial Centre

By 2018-12-03T14:02:00

Singapore Ocean Financial Centre

Global financial services giant Allianz has acquired a significant stake in Singapore’s Ocean Financial Centre as part of plans to focus its real estate investment on Asia-Pacific.

Allianz Real Estate has outlined plans to allocate up to 10% of its €60bn real estate exposure to Asia-Pacific and in the first major investment has acquired a 20% stake in the 43-storey tower in the capital of Singapore for $(S)537m (£310m) from Keppel REIT.

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