Singapore’s powerful sovereign wealth fund GIC, one of the largest offshore investors into commercial property in this country, has flagged its interest in Australia’s logistics and healthcare real estate sectors, while expressing confidence that top-quality CBD office towers will prosper amid the shake-out in work practices.
Underpinning that surge is GIC’s confidence in the Australian economy where solid growth combined with population increases drives demand for commercial property. “Retailers are going into omni-channel, so they’re building up their presence in logistics. That’s a space we’ve been playing into.” “We still don’t think there’s going to be a structural decline in the office environment,” he told the“There’ll be a bifurcation of the market, so tenants like ourselves will be looking for buildings that are modern, provide good amenity, have a good location, have good ESG credentials. Those [buildings] will continue to do well.
How is this a good thing? Australians probably wouldn’t be allowed to buy a rice patty in Singapore