Qatar’s wealth fund buys stake in JSM Indochina property fund

JSM Indochina Ltd., the Vietnam and Cambodia property fund whose shares trade in London, said Qatar’s sovereign wealth fund bought 14.2 million shares representing a 5.74 percent holding.

The Qatar Investment Authority ranks behind shareholders including JSM Chief Executive Officer Craig Jones with 13.3 percent, Lehman Brothers Holdings Inc. with 12 percent and Swiss Re with 6.5 percent, JSM said in a statement this week.

The QIA, which has estimated assets of $60 billion, plans to invest in real estate in Asian cities where there’s strong economic growth and a shortage of quality property, head of real estate Navid Chamdia said in an interview earlier this month.

The authority bought a 27 percent stake in Vietnamese property fund Dragon Capital and owns 49 percent of one of Malaysia’s biggest shopping malls, Pavilion Kuala Lumpur.

Thanhnien

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