Warburg-backed ARA Asset Management weighs $1b dual listing
Suntec Singapore photo from ARA Asset Management s website.
February 26, 2021
ARA Asset Management Ltd., a real estate investment firm backed by Warburg Pincus LLC, is weighing a dual listing plan that could raise at least $1 billion as soon as this year, according to people with knowledge of the matter.
The firm, which also counts Hong Kong billionaire Li Ka-shing as an investor, is working with advisers on a plan to list in Hong Kong and Singapore, said the people, who asked not to be identified as the information is private. The asset manager is leaning toward a Hong Kong offering before a share sale in Singapore, they said.
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Real estate investment fund Cromwell Property Group has promoted Chris Hansen to head of development, to oversee development and project management initiatives in both Australia and Europe, from 1 February, 2021.
Hansen joined Cromwell in 2013 and had experience in both development and project management after he worked on the $131 million refurbishment of the Qantas Global HQ and led the $130 million redevelopment of Northpoint Tower.
Under his remit as head of development in Australia, Cromwell had recently received development approvals for 19 National Circuit in Canberra, 475 Victoria Avenue in Chatswood, North Sydney and 700 Collins Street in Melbourne.
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