Publications

Transactions

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CPPIB makes first direct real estate investment in Malaysia

by Andrea Waitrovich

The Canada Pension Plan Investment Board and Pavilion Group have formed a joint venture to invest in Pavilion Damansara Heights, a mixed-use development project in Kuala Lumpur, Malaysia. As part of the joint venture, CPPIB will commit approximately $130 million for a 49 percent interest in the development.

“We are pleased to make our first direct real estate investment in Southeast Asia through this joint venture with one of Malaysia's most well-respected developers, the Pavilion Group,” said Jimmy Phua, managing director and head of real estate investments Asia with CPPIB, in a statement. “This joint venture fits well with our investment strategy as it provides us with a great opportunity to work with a smart partner in a high-quality real estate asset that will provide attractive risk-adjusted returns over the long term.”

Pavilion Damansara Heights is a freehold development integrating corporate towers, luxury residences and a re

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?