ARA Asset Management launches Hamony VI fund to invest in Century Link project

Visual of Century Link project in Shanghai. Credit:ARA Asset Management

Singapore-listed ARA Asset Management Limited has established ARA Harmony VI (“Harmony VI”) to invest in Century Link, a newly-completed premium-grade integrated commercial property located in the heart of Lujiazui Finance and Trade Zone in Pudong New District, Shanghai, China.

The agreed property value is RMB20 billion (approximately S$4.1 billion). This renders it the largest single-asset property transaction in Asia Pacific this year. As at 30 June 2016, ARA’s assets under management (AUM) stood at approximately S$29.7 billion.

Century Link is a mixed-use development comprising two high-rise office towers, a six-storey retail podium and 1275 car parking spaces with total gross floor area of approximately 362,361 square metres.

Sited directly atop the city’s only four-subway line interchange hub and within the country’s leading financial district, Century Link is ideally positioned to attract office tenants prioritising location, prime Grade A office specifications, connectivity and amenities, and retail customers city-wide. It is expected to benefit from the strong office and residential population catchment, as well as the long-term growth potential of the area.

Harmony VI is anchored by an established insurer with a minority stake held by the Peninsula Investment Partners, L.P. and Peninsula Co-Investment Holdings I (Century), L.P., and has an initial term of 10 years with provision for extension.

It will be managed by ARA Fund Management (Mapleleaf) Limited, a wholly-owned subsidiary of ARA. APM China, a property management subsidiary of ARA with a successful track record in China, will be the property manager for Century Link.

Commenting on this development , ARA Private Funds CEO Ng Beng Tiong said, “Century Link is a landmark deal, given its prime location, quality and scale. It is expected to make significant contributions to the local community, providing prime Grade A office accommodation to demanding corporate tenants and a much-needed large-scale, mid-high retail offering in Pudong.”

“We are also encouraged by our investors’ confidence in ARA’s investment and asset management capabilities, especially for very large-scale commercial properties in the region,” he adds.

Also Read: 

ARA Asset said to bid for Singapore’s Capital Square tower stake

SG Realty Digest: Keppel Land divests holding in Thai unit, ARA Assets picks stake in Suntec REIT

Singapore: ARA Asset Management raises $325m for private real estate funds division

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.