SINGAPORE (Feb 20): AEP Investment Management could be a step closer to the launch of A$1 billion ($1.1 billion) REIT of Australian office tower properties in a tie-up with China’s HNA Group.

According to a Monday report in The Australian, the duo are said to be in advanced planning stages of setting up a REIT vehicle they would co-sponsor and list on the Singapore Exchange. The properties consist of office tower properties located in cities along Australia’s East Coast.

AEP is a Singapore funds management company which also specialises in property deals and investments. It also has a substantial portfolio of properties in the republic and in Australia.

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