17th March, SINGAPORE – On Tuesday, U.S fund manager Franklin Resources (BEN.N) said, Franklin Templeton had raised $383 million Asian real estate private equity fund to make an investment in cheap and distressed assets in the area.
Worldwide market turmoil and decreased access to financing have created highly unusual investment opportunities in both the developed and emerging Asian property market, the fund manager Franklin Templeton, said in a statement.
Commercial property costs in financial centers Hong Kong and Singapore are tipped to go down by 50-60% over the next couple of years as banks and fund management firms stroke jobs and rent less space, said analyst.
As banks cut their exposure to real estate, property owners in India, China, Japan, Australia and other countries could be forced into fire sales if they fail to refinance loans, putting more properties on the market and driving values down further.
“We believe that 2009 and 2010 should provide excellent opportunities for real estate investing in Asia,” Glenn Uren, the fund’s portfolio manager said. “Savvy investors are carefully exploring the region looking for undervalued and distressed assets.”
Franklin Templeton, the fund manager, which has been investing in Asian real estate for the past twelve years, also transferred two senior staff members to Hong Kong and Singapore to focus on real estate.
The vice president, Wenning Jung, relocated to Singapore office from California and Donna Ming-Yuan Lee, research analyst relocated to the Hong Kong office from New York, the statement said. (Reporting by Saeed Azhar; Editing by Lincoln Feast)
Savcl, Sri Anand vinayak Coalfields Limited, is R.S.Pagaria group co. of Kolkata, India, is a diversified business house of Coal Trading, Mining, Logistics & Coal Consultancy. After a mega success as a intra mine coal contractor for subsidiaries of Coal India Limited like SECL. ECL, WCL, MCL, CCL. Co’s expert mining engineers are at south Kalimantan Island, Indonesia to acquire mining right of Low moisture & sulphur , high gcv / uhv and correct fixed carbon / volatile material. We sell imported coal from Indonesia, Australia, Vietnam, Russia, South Africa to core sector clients : Power, Steel, Fertilizer, brick liners. Our bulk coal stock at coal dumps for coal suppliers to compete market trends & coal prices in a recession or inflation economy / market trends. Owned fleet of commercial vehicle like Tippers, Bulkers, Excavators, wheel loaders etc. is engaged in mining, logistics, transportation, multimodal handling & inland water movements by dumb barges & tugs. Consultancy division takes care of matter related to Linkage, Fsa, railways, loading quality coal by road / coal rakes, financing, handling, liasoning, allotment of coal blocks and overseas mines. We take turnkey project as an outsourcing contractor and clean coal washeries. Our energy is to serve core sector clients producing electricity, steel & steel products like tmt bars , ingots, angels ,sheets , hot rolled, cold rolled, the earlier dealers of sail ,steel authority of India are now flooded by steel products of sponge iron producers from iron ore of melting scrap in furnace. By this process a huge gap in coal market is created leading to acute shortage of coal during rainy seasons when coal production is low.