Aareal Bank is opening a subsidiary in Singapore this month, thereby expanding its international presence to Asia for the first time. Aareal Financial Services (Singapore) Pte. Ltd. will focus
primarily on advice to investors in hotel properties in the leading Asian markets. This paves the way for the entry of the international real estate bank onto further service markets in selected countries in the medium term.
Jimmy Chan (46), General Manager of Aareal Financial Services, has in the past held leading positions in a number of Asian countries, including in Development at Starwood Hotels & Resorts and in the Investment Banking and Corporate Finance Division at Société Générale and Chase Manhattan. The subsidiary in Singapore will be supported by the globally active advisory team for Aareal Bank’s hotel investors, led by Andreas Flaig (35).
Operations in Asia are targeted at international investors. In the words of Dr. Ralph Hill, member of Aareal Bank’s Executive Board, “Our clients benefit from our know-how and our global contacts with hotel investors and operators. We have access to an established network in 14 countries”.
Aareal Financial Services (Singapore) assists Asian clients during investment in regional markets and portfolio diversification into the USA and Europe. At the same time it offers institutional investors from the USA and Europe comprehensive advice during investments in Asian hotel properties. According to Dr Hill, “We have had our eye on these markets for some time. On average, their GDP growth rates are higher than those of countries in the West and indicate rising market potential”.
Source: Aareal Bank