ASSET MANAGEMENT

Asset Management

The asset management business is organised into domestic asset management (domestic real estate investment funds) and overseas asset management (overseas real estate investment funds). As fund and asset manager, GRA oversees the full cycle from asset selection and investment through to exit, maximizing value for investors while building its real estate investment management brand.

DOMESTIC STRATEGY

Domestic Investment Strategy

Centered on value-add and yield-enhancing strategies and complemented by opportunistic plays, GRA works the core assets and opportunistic urban-renewal situations of key cities including Shanghai, Beijing and Shenzhen. Equity is the primary investment vehicle, supplemented by selective debt and mezzanine/subordinated positions.

01

VALUE-ADD

Value-Add

Acquire below market → Restore operations → Exit at a premium

Targets assets with room for value restructuring and operational improvement in a down cycle, creating value through renovation and operations ahead of resale. The focus is operable real estate - serviced apartments, serviced offices and specialty retail - where the team's renovation and operating capability lifts asset performance and negotiating leverage, ultimately exiting at a premium through portfolio sales or open-market block trades.

02

YIELD-ENHANCING

Yield-Enhancing

Lease in below market → Reactivate operations → Generate steady cash flow

Uses an asset-light approach to unlock assets with operating potential in a down cycle, exporting operating capability for stable cash-flow returns. It concentrates on assets that can be run to a standard - serviced apartments and serviced offices - reactivated through leasehold renovation, brand rollout and operating-efficiency gains, accumulating steady, sustained income without tying up substantial capital.

03

OPPORTUNISTIC

Opportunistic

Acquire below market → Reposition for differentiation → Exit at a premium

Captures non-core existing-property opportunities defined by a specific location or built form, such as offices or retail space that can be sold in parts, raising product scarcity and market appeal through differentiated repositioning. Conversions into executive apartments, luxury residences or value-for-money housing reshape function and lift value, with exit timed to demand-side recovery or a rising price cycle.

OVERSEAS STRATEGY

Overseas Investment Strategy

GRA's overseas business runs a "dual-engine" investment strategy positioned across growth markets and mature markets, hedging risk and balancing returns under mismatched cycles. By studying each market's characteristics and matching strategy accordingly, GRA builds a portfolio able to withstand pressure across cycles.

DUAL-ENGINE STRATEGY

01

MATURE MARKETS

Mature Markets

  • Focuses on operating assets in core cities of Japan, the United States and comparable markets, creating value and stable income through acquisition combined with operating-efficiency gains
  • Through dedicated real estate funds, holds or leases ageing assets with renovation potential, working with local operating teams on upgrades and brand rollout to raise operating efficiency and reprice capital value
  • The strategy leans fully on real estate as the "ballast" of an asset allocation, targeting inflation protection, risk diversification and steady appreciation

02

GROWTH MARKETS

Growth Markets

  • Focuses on countries and regions in a phase of urban expansion, population inflow and policy tailwinds, such as the UAE
  • Partners with leading local developers to set up bulk-purchase funds, entering quality new-build or whole-block properties at relatively low cost and exiting at a premium during the price-growth cycle
  • The strategy combines flexibility with growth, suited to short- to medium-term capital appreciation objectives