Malaysia’s PNB eyes new overseas property markets
The state-linked fund manager’s foreign real estate holdings are largely in the UK, but that is set to change. It recently bought logistics assets in Poland and is eyeing other locations and segments.
Malaysia’s state-linked unit trust manager, Permodalan Nasional Berhad (PNB), is working to diversify its foreign real estate portfolio beyond UK office assets into other countries and sectors such as logistics, both directly and via external managers, as part of a major investment overhaul.
Late last year, for instance, PNB* closed its first direct property investment in continental Europe, acquiring five logistics parks in Poland from industrial real estate developer Panattoni, …
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