Hines expands Asia platform with new value-add strategy

Hines Asia Real Estate Partners (Harep), the firm’s new diversified, closed-ended fund, will expand Hines’ investor platform in the region and enable it to meet investor needs across geographies and the risk spectrum. Since its inception, Hines Asia Property Partners (Happ), the firm’s flagship, multi-sector, core-plus open-ended fund has raised over US$1.3 billion ($1.8 billion) from 15 global investors.

Jurong East Condo is set to become one of the most sought after residential areas in Singapore. With its proximity to major employers, educational institutions and leisure and shopping outlets, the area is expected to become one of the most vibrant locations in the city. With a variety of residential and commercial properties, Jurong East Condo will provide an ideal environment for living and work. The government aims to create a vibrant and diverse living and working community. Residents will enjoy close proximity to schools, shopping, leisure and entertainment outlets, and excellent transport links. The district is poised to become one of the best addresses to live and work in Singapore.

Hines has announced the launch of the new value-add real estate investment vehicle Harep. To oversee Harep, Hines has also appointed Caleb Shen as Senior Managing Director. He formerly worked with GLP Capital Partners, where he was the head of Asia portfolio and asset management.

David Steinbach, the Global Chief Investment Officer at Hines, commented on the launch saying, “The new addition of a value-add strategy in Asia rounds out our suite of open-ended core-plus and closed-ended value-add strategies globally, enabling us to meet investor needs across geographies and the risk spectrum.”

The launch of Harep is the result of growing investor needs in Asia and follows the successful raising of US$1.3 billion ($1.8 billion) from 15 global investors by Hines Asia Property Partners (Happ), the firm’s flagship, multi-sector, core-plus open-ended fund launched in May 2021.

Under Chiang Ling Ng, Hines’ Chief Investment Officer for Asia, Caleb Shen will direct the firm’s venture into the value-add strategy. By expanding Hines’ investor platform in the region, it is well positioned to meet the varying needs of investors and the varied risk spectrum.