SINGAPORE (June 25): John Lim, CEO of ARA Asset Management, and a pioneer of Singapore’ real estate investment trust sector, is in expansive mood as he sat down with The Edge Singapore in early June. ARA had just announced a sterling set of results. Along with Japan’s Kenedix and Australia’s Cromwell Property Group — itself an internalised REIT — ARA can now lay claim to assets under management (AUM) of $77 billion, putting it within reach of Lim’s $100 billion target that he set about a year ago.
ARA owns the management companies of five listed REITs — Suntec REIT and Cache Logistics Trust, listed in Singapore; Fortune REIT, listed in Hong Kong and Singapore; Prosperity REIT, listed in Hong Kong; and a 30% stake in the manager of Hui Xian REIT, listed in Hong Kong. In addition to the listed REITs, ARA is the manager of four Korean private REITs — ARA-NPS REITs, ARA-ShinYoung REITs, ARA-Alpharium REIT and ARA Korea Global REIT I.