QIA finds promising potential in warehouses and data centres within real estate segment

(MENAFN - Gulf Times) Qatar Investment Authority (QIA), which has been investing heavily in the technology in the last two years, finds promising potential in warehouses and data centres within the real estate segment. Vocal on investments in Asia and the US, QIA, which has also associated with Blackstone Group for "best in class" asset management, has kept options open on acquiring assets should the right opportunities arise, the sovereign wealth fund's chief executive Mansour Ibrahim al-Mahmoud told the third edition of Qatar Economic Forum, powered by Bloomberg. In view of the growing importance of the environment sustainability and governance parameters in the global financial landscape, QIA is in the process of incorporating the ESG criteria in its investments. "Pandemic has changed the landscape but our philosophy remains the same. We remain as long term investors and in a diversified way," he said. Terming that the realty has been one of its traditional asset classes, he said "we are focusing within real estate on the sub-segment. One of them is investing in warehouses to support the E-commerce, in which it has made big time investments." The data centre is another segment where it finds promising future. "You have to be a little bit very specific in analysing the sector and try to really find out what are the opportunities," he said, adding QIA has also been focusing on healthcare. Highlighting that within in the last two years, it has invested in technology more than ever; he said QIA has been deploying funds in online education. "Any portfolio without a huge component of technology is not really balanced," al-Mahmoud said. Recently, Thumblack, the modern home management platform, secured a $275mn investment at a valuation of $3.2bn. The round was led by QIA and joined by Blackstone Alternative Asset Management as well as G Squared. Stressing that diversification in terms of sectors and geography is important to it; al-Mahmoud said ''we have asset allocation and exposure that we present to the board on the quantum of investment.” Earlier this week, Ascott Serviced Residence Global Fund, a 50:50 joint venture between QIA and Ascott, disclosed that it is buying properties in the capitals of France and Vietnam. The QIA is looking to institutionalising the environment sustainability and governance or ESG considerations into its investment criteria, al-Mahmoud said. "We have been investing in ESG initiatives and projects for quite some time, and this year it will be institutionalised," he said, adding "we still embed ESG into our investment process." On crypto currencies, he said it was too early to speculate. There is a "need a bit of maturity" before it makes its views on investing in that space, he added. MENAFN23062021000067011011ID1102335004