Phoenix Property Investors ("Phoenix") is a real estate investment firm headquartered in Hong Kong. In 2022, IREI ranked Phoenix as the tenth largest real estate manager in Asia based on

assets under management In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...

(AUM).

Background

Phoenix was founded in 2002 by Samuel Chu and Benjamin Lee. The firm takes a value driven approach to investing in real estate in and works with institutional clients such as sovereign wealth funds, pension funds and insurance companies. Phoenix has investments across 18 cities across Asia in countries such as China, Japan, Korea and Australia. While investments are predominately in North Asia, Phoenix has also been growing its investments in Southeast Asia. The firm is headquartered in Hong Kong with additional offices in China, Japan, Korea, Singapore, Taiwan and Australia. In 2020, Phoenix had to restructure its financing for investments in Beijing and Shanghai due to market turndown caused by the

COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...

. In May 2022, Phoenix sued

WeWork WeWork Inc., headquartered in New York City, is a provider of coworking spaces, including physical and virtual shared spaces, in approximately 600 buildings in 125 cities. WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey. Ove ...

for abandoning a 10 year commitment to Tower 535 in Hong Kong. Phoenix demanded a payment of about HK$242 million (US$30.8 million) on the alleged breach of contract. In June 2023, Phoenix and

Lendlease Lendlease is an Australian multinational construction and real estate company, headquartered in Barangaroo, Sydney, New South Wales. History Founding The company was established as Lendlease by Dick Dusseldorp in 1958 to provide finance fo ...

entered a joint venture to develop a A$185 million logistics facility in Australia. In January 2024, it was reported that for Phoenix's seventh opportunity fund, it removed mainland China from its strategy. Phoenix was responding to its investors' preference to avoid

political risk Political risk is a type of risk faced by investors, corporations, and governments that political decisions, events, or conditions will significantly affect the profitability of a business actor or the expected value of a given economic action. Po ...

associated with exposure to assets in China. However it was expected to not have a significant impact as China exposure had not exceeded 15% of the firm's AUM since 2010 and Phoenix had not invested in China for a while. In addition investors saw that there could be better risk adjusted returns from more developed markets in Asia such as Australia, Japan South Korea.

References

External links

* {{DEFAULTSORT:Phoenix Property Investors 2002 establishments in Hong Kong Companies established in 2002 Companies of Hong Kong Financial services companies established in 2002 Investment companies of Hong Kong Private equity firms of Asia-Pacific