The Group's flagship private real estate fund, the ARA Asia Dragon Fund (“ADF”) is designed to provide a platform for global institutional investors to invest in a diversified portfolio of real estate investments in various growth economies of Asia. The ADF targets investment opportunities primarily in the main cities of China, Singapore, Hong Kong and Malaysia and in other key cities in Thailand, Vietnam and other countries in Asia to capitalize on the growth of the regional property markets. These investments include projects in development and completed projects in the office, retail, and residential sectors as well as other real estate sectors, with the goal of maximizing total returns from a combination of income and capital appreciation. The ADF has an investment period of four years and an initial lifespan of seven years.

The Group has committed to invest an amount equivalent to 2.0% of the ADF’s aggregate committed capital as seed capital for the fund.

The ADF has an aggregate committed capital of more than US$1.13 billion. Together with additional allocation of US$500 million for potential co-investments with the fund by a major investor, the ADF has more than US$1.6 billion of equity capital at its disposal, representing potential real estate investment capacity of over US$5 billion.