Redevco expands focus to Asia

Retail property specialist Redevco has started to explore investment opportunities in Asia following its expansion in recent years in Eastern Europe. Redevco said China and India in particular are enjoying rapid economic expansion in Asia. Initially, the firm will focus on participating in new development projects in major cities in those countries. As a first step, Redevco has signed a joint venture agreement with Hong Kong-based developer Shui-On-Land for the construction of a 100, 000 m² shopping centre in Wuhan, China.

Redevco will provide information on its current portfolio and development projects in the retail, office and logistics sectors under the motto 'business in balance' at the Mapic retail real estate fair in Cannes from 18 to 20 November. The firm will also present its first Corporate Responsibility Report.

Part of Cofra Holding, Redevco manages a portfolio of some 750 objects in 20 countries, mainly in Europe but also in Asia, where it has opened offices in Hong Kong and New Delhi. The current value of the group's overall portfolio, of which retail properties account for more than 80%, is around EUR 7 bn.

In the current difficult financial climate, Redevco is using its strong balance sheet to continue to invest selectively particularly in countries that have been hit hard in the recent downturn. The main focus of Redevco’s investments is on prime retail properties on A1 locations in the centres of major cities.