SINGAPORE (EDGEPROP) - International asset management group La Française has opened a new office in Singapore at Frasers Tower, along Cecil Street. The office is located on the 33rd floor, together with the Singapore branch of banking and financial services group Crédit Industriel et Commercial (CIC). Both La Française and CIC are members of banking group Crédit Mutuel Alliance Fédérale.

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The office is La Française’s second in Asia Pacific, following the opening of an office in Seoul, South Korea, in 2016. According to a July 19 press release by La Française, the firm has seen a significant increase in demand for European real estate from Asian investors. In addition to the office at Frasers Tower, the firm states it is also looking to open a second Singapore office, subject to approval by the relevant authorities.

As of April 30, La Française manages some EUR2.3 billion ($3.3 billion) in assets on behalf of Asian investors, mainly in real estate.

“As a leader in the European office real estate space, we recognise the importance of a strong presence in Asia Pacific,” says Phillipe Lecomte, CEO of La Française AM Finance Services. Lecomte adds that with the opening of the new office, the firm aims to assist Asian investors in the geographical diversification of their real estate portfolios.

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