The appointment of the property industry veteran is a move that supports the firm's target allocation of 10 percent of its global real estate portfolio in the region.
Allianz Real Estate, the investment and asset manager of real estate for Allianz, has appointed Danny Phuan to the newly created role of Asia-Pacific head of acquisitions, the firm announced in a statement on Tuesday.
Phuan, who joins from Keppel Capital, where he was executive director and chief investment officer, North Asia, brings to the firm more than 25 years of experience in the real estate sector across Asian markets. Based in Singapore, Phuan reports to Asia-Pacific CEO Rushabh Desai.
According to the statement, Allianz RE has made «multiple strategic investments» in Asia Pacific this year. The appointment «comes at an opportune time as we continue to further our business expansion plans in this region,» Desai said.
Green Loan
On Monday, finews.asia reported that Allianz RE and Hong Kong private equity firm Gaw Capital Partners received a syndicated S$945 million green loan for their S$1.575 billion joint acquisition of Duo Tower and Duo Galleria from M+S, a national joint venture between Malaysia and Singapore.
