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Sun Life Plans $10B Bet On Japan’s Office Market
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Sun Life Plans $10B Bet On Japan’s Office Market

Canadian insurance giant Sun Life Financial will invest billions of dollars in the Japanese office market, betting it will rebound following the pandemic.

Business

Canadian insurance giant Sun Life Financial says it will invest billions of dollars into the Japanese office market, betting on a post-pandemic rebound.

The firm’s real estate arm plans to double staff in the country and invest $10 billion in Japanese property in the next three years, according to Bloomberg.

As much as 70 percent of that money could go toward office properties in central business districts, said BentallGreenOak CEO Sonny Kalsi. The firm is an affiliate of Sun Life’s institutional alternative asset management arm.

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“We don’t think that work from home is going to be a big long-term trend in Asia overall, and in Japan specifically,” Kalsi said. “That’s part of the reason we are bullish on Japanese offices — more so than any other market.”