Abu Dhabi wealth fund ranked as world’s top real estate investor
Abu Dhabi Investment Authority (ADIA) is the top real estate investor in the world, a research report said, a sign of gulf sovereign wealth funds (SWFs) growing their alternate investments portfolio. SWFs in the Gulf have helped diversify their economies away from oil and invest in a wide range of non-oil related assets.
ADIA, one of the richest sovereign wealth funds in the world, manages $62.1bn in real estate assets, Credit Agricole’s IndoSuez Wealth Management said in a research note. That accounts for 7.5 per cent of its total assets under management.
Qatar Investment Authority (QIA), with $35bn investments in real estate is ranked fifth after Netherlands, Germany and France.
Some of ADIA’s current real estate projects include the $2bn-plus high-end residential Waterline Square development on New York’s Hudson River, the 200m euro deal with developer Bouygues Batiment lle-de-France for constructing a 38-storey office tower in Paris and the Mall of Switzerland opened last November.