FUND NAME
FUND MANDATE
FUND MANAGER
SRE CAPITAL
COMMITMENT
(DEC 2015)
SRE CONTRIBUTED
CAPITAL TO-DATE
(DEC 2015)
ARA Summit
Development Fund I
The fund invests in
development projects
in Australia and South
East Asia, providing
equity or mezzanine
loans to developers.
ARA Asset Management
USD 80.0 million
USD 16.6 million
Greater Tokyo
Office Fund
The fund invests in
office buildings in the
metropolitan Tokyo
area.
Savills Investment
Management
JPY 4.9 billion
JPY 1.3 billion
ARA Harmony
Fund III
The fund owns and
manages five suburban
and regional retail malls
in Malaysia.
ARA Asset Management
SGD 72.8 million
SGD 70.2 million
The outlook for Chongqing’s economic environment remains
sanguine amidst China’s economic restructuring. Chongqing’s
GDP expanded 11% in 2015, making it the highest growth
region among Chinese provinces and municipalities for the
year. Chongqing, with its mid-west location, is also at the heart
of China’s “one-belt, one-road” trade initiative. Furthermore, the
recent decision to base the third Singapore-China government-
to-government project in Chongqing will no doubt add a new
growth driver to this city that traditionally has relied on heavy
industry as a key economic impetus.
Melbourne Office Building
In August 2015, Straits Real Estate acquired a 98% interest in an
office building located at 114 William Street in Melbourne. The
freehold property comprises 21,000 square meters of lettable
area, spread over 23 levels. The building also has two basements,
providing car park lots and end-of-trip facilities (including bicycle
parking, lockers, and shower facilities).
114 William Street was originally developed in 1976 but remains
in very good condition largely due to a timeless design, good
maintenance and intermittent upgrading carried out by the
previous owners. Notwithstanding the good condition of the
building, this asset presents Straits Real Estate with value-adding
opportunities in a number of ways. Straits Real Estate will
proactively manage the asset to update and renew it over the
next few years, with the objective of bringing the passing rent to
fair market levels to realise the asset’s full protential
.
FUND INVESTMENTS
Straits Real Estate has invested in the following real estate funds:
114 William Street, Melbourne, Australia
23
ANNUAL REPORT 2015
