Hong Kong, March 3, 2020 – Gaw Capital Partners is delighted to announce that it has won three awards at the PERE Awards 2019. The firm was named ‘Retail Investor of the Year, Asia’, ‘Office Investor of the Year, Asia’ and ‘Residential Investor of the Year, Asia’ after receiving the largest number of votes in a public ballot of the real estate industry.
The firm won in the ‘Retail Investor of the Year, Asia’ category for its US$1.5 billion acquisition of 12 Hong Kong shopping malls from Link REIT in March 2019. Along with the 17 shopping centers it acquired from Link REIT in 2018 through its fund under management, Gaw Capital has started work on revitalizing the malls into hubs of community life with the aim of boosting retail sales and serving local areas. ‘People’s Place – Kai Yip Recreation Centre’, a revitalized recreation and open space in Kowloon Bay’s Kai Yip Estate, is an early example of the rejuvenation that has been taking place at the acquired shopping malls.
Lai Kok after revitalization
The ‘Office Investor of the Year, Asia’ was awarded for the firm’s acquisition of Cityplaza Three and Four in Hong Kong for US$1.9 billion, as well as its US$1.2 billion joint acquisition of DUO Tower and Galleria in Singapore with Allianz Real Estate. The acquisition of Cityplaza Three and Four taps into Hong Kong’s increasing ‘decentralization’ trend, which is seeing tenants move away from traditional business areas into more cost-effective and spacious Grade-A offices in other districts. The firm’s new stake in DUO meanwhile represents a landmark investment for Gaw Capital in Singapore for an iconic asset. Leveraging their strong locations, Gaw Capital is repositioning the buildings into attractive office spaces that appeal to new tenants.
CityPlaza 3&4
DUO Tower and Galleria
The firm received the ‘Residential Investor of the Year, Asia’ accolade for investing in Funlive, a long-term rental apartment investment platform created by China SCE Group Holdings. The joint venture, which has received initial funding of US$800 million, aims to acquire, develop and operate multi-family residential projects in China’s core cities, which will enjoy strong demand in the coming years.
Funlive
Mr. Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, said, “We are honored to have been recognized for our work across real estate sectors in Asia Pacific over the past year. Following explosive growth over the past decade, Asia’s real estate market is entering a new phase where value added transactions are coming much more to the fore.”
He added, “Leveraging our real estate platforms and expertise, Gaw Capital will reposition and breathe new life into the properties it has acquired over the past year to meet the needs of tenants while delivering value for its investors. Meanwhile, the region’s rapid urbanization and embrace of technology are creating new investment opportunities that the firm will tap into in the coming year.”
The Global PERE Awards recognize significant highlights in the global real estate industry and is highly respected across the global real estate private equity industry.