July 21, 2018, 11:09 am
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1 Philippine Peso = 0.0687 UAE Dirham
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1 Philippine Peso = 0.33389 Egyptian Pound
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1 Philippine Peso = 0.01606 Euro
1 Philippine Peso = 0.03917 Fiji Dollar
1 Philippine Peso = 0.01429 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08962 Ghanaian Cedi
1 Philippine Peso = 0.88982 Gambian Dalasi
1 Philippine Peso = 168.66816 Guinea Franc
1 Philippine Peso = 0.14005 Guatemala Quetzal
1 Philippine Peso = 3.88103 Guyana Dollar
1 Philippine Peso = 0.1468 Hong Kong Dollar
1 Philippine Peso = 0.44747 Honduras Lempira
1 Philippine Peso = 0.1187 Croatian Kuna
1 Philippine Peso = 1.26057 Haiti Gourde
1 Philippine Peso = 5.20183 Hungarian Forint
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1 Philippine Peso = 1.28159 Indian Rupee
1 Philippine Peso = 22.25963 Iraqi Dinar
1 Philippine Peso = 813.69248 Iran Rial
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1 Philippine Peso = 0.01325 Jordanian Dinar
1 Philippine Peso = 2.11107 Japanese Yen
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1 Philippine Peso = 1.27484 Kyrgyzstan Som
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1 Philippine Peso = 16.83502 North Korean Won
1 Philippine Peso = 21.15413 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
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1 Philippine Peso = 6.4508 Kazakhstan Tenge
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1 Philippine Peso = 0.01161 Latvian Lat
1 Philippine Peso = 0.02573 Libyan Dinar
1 Philippine Peso = 0.17723 Moroccan Dirham
1 Philippine Peso = 0.31076 Moldovan Leu
1 Philippine Peso = 0.98373 Macedonian Denar
1 Philippine Peso = 26.78638 Myanmar Kyat
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1 Philippine Peso = 0.15122 Macau Pataca
1 Philippine Peso = 6.64048 Mauritania Ougulya
1 Philippine Peso = 0.64347 Mauritius Rupee
1 Philippine Peso = 0.29125 Maldives Rufiyaa
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1 Philippine Peso = 0.15284 Norwegian Krone
1 Philippine Peso = 2.04293 Nepalese Rupee
1 Philippine Peso = 0.02753 New Zealand Dollar
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1 Philippine Peso = 0.01871 Panama Balboa
1 Philippine Peso = 0.06114 Peruvian Nuevo Sol
1 Philippine Peso = 0.06073 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.39618 Pakistani Rupee
1 Philippine Peso = 0.0692 Polish Zloty
1 Philippine Peso = 106.97905 Paraguayan Guarani
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1 Philippine Peso = 0.07472 Romanian New Leu
1 Philippine Peso = 1.18 Russian Rouble
1 Philippine Peso = 15.95267 Rwanda Franc
1 Philippine Peso = 0.07015 Saudi Arabian Riyal
1 Philippine Peso = 0.14747 Solomon Islands Dollar
1 Philippine Peso = 0.25122 Seychelles Rupee
1 Philippine Peso = 0.33483 Sudanese Pound
1 Philippine Peso = 0.16573 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.0143 St Helena Pound
1 Philippine Peso = 0.41538 Slovak Koruna
1 Philippine Peso = 153.38571 Sierra Leone Leone
1 Philippine Peso = 10.68088 Somali Shilling
1 Philippine Peso = 393.68313 Sao Tome Dobra
1 Philippine Peso = 0.16367 El Salvador Colon
1 Philippine Peso = 9.633 Syrian Pound
1 Philippine Peso = 0.24845 Swaziland Lilageni
1 Philippine Peso = 0.62252 Thai Baht
1 Philippine Peso = 0.04952 Tunisian Dinar
1 Philippine Peso = 0.04351 Tongan paʻanga
1 Philippine Peso = 0.08966 Turkish Lira
1 Philippine Peso = 0.12587 Trinidad Tobago Dollar
1 Philippine Peso = 0.57159 Taiwan Dollar
1 Philippine Peso = 42.49906 Tanzanian Shilling
1 Philippine Peso = 0.49158 Ukraine Hryvnia
1 Philippine Peso = 69.56977 Ugandan Shilling
1 Philippine Peso = 0.01871 United States Dollar
1 Philippine Peso = 0.58277 Uruguayan New Peso
1 Philippine Peso = 145.09914 Uzbekistan Sum
1 Philippine Peso = 2239.05724 Venezuelan Bolivar
1 Philippine Peso = 431.12608 Vietnam Dong
1 Philippine Peso = 2.04265 Vanuatu Vatu
1 Philippine Peso = 0.04883 Samoa Tala
1 Philippine Peso = 10.52881 CFA Franc (BEAC)
1 Philippine Peso = 0.05051 East Caribbean Dollar
1 Philippine Peso = 10.52881 CFA Franc (BCEAO)
1 Philippine Peso = 1.90591 Pacific Franc
1 Philippine Peso = 4.67265 Yemen Riyal
1 Philippine Peso = 0.24818 South African Rand
1 Philippine Peso = 97.07258 Zambian Kwacha
1 Philippine Peso = 6.76955 Zimbabwe dollar

Allianz Real Estate aims to raise China investment

HONG KONG- The property investment arm of Germany’s Allianz SE ALVG.DE expects China to account for up to 50 percent of its Asia-Pacific fund allocation going forward from 40 percent now, with focus on the new economy and logistics sectors, a senior executive said.

The insurer and asset manager on Monday said it bought an office tower in a Beijing software park that was fully leased to Chinese tech firms. It expects to complete another purchase in a Shanghai business park “within a couple of weeks”, said Rushabh Desai, Asia-Pacific chief executive at Allianz Real Estate.

“We want to be aligned to the new economy and contribute toward China’s growth in the sector; we’re investing based on that thesis,” Desai said in a recent telephone interview. New economy refers to non-traditional industries such as biopharma and online retail.

Allianz Real Estate is just one of many foreign investment firms betting on growth in the commercial property markets of China’s top-tier cities, driven by high demand from small startups to large corporates.

The firm bought 98 percent of the Beijing office tower - dubbed ZLink and valued at $185 million to $195 million - in an all-cash deal from private equity firm KaiLong Group and Goldman Sachs Group Inc, Desai said.

The ability to pay without financing and close the deal in eight weeks helped Allianz Real Estate secure the property, even though it might not have been the highest bidder, Desai said, as sellers prefer to avoid China’s lengthy financing periods.

He said the firm will look for opportunities in Beijing and Shanghai office space, as well as in warehousing. Its portfolio includes co-investing in two Shanghai office towers.

Allianz Real Estate is on track to meet its China portfolio growth target of over one billion euros ($1.17 billion) at the end of 2018, from around 800 million to 900 million euros at present, Desai said.

Globally, Allianz Real Estate manages 56 billion euros worth of assets, of which 10 percent is in the Asia-Pacific region, where around 40 percent is in China.

Desai said the trade spat between the United States and China has little impact on his firm’s investment decisions, and that post-deal asset management is more important.

“We monitor political risk but we keep it out of our investment decisions and try to focus on asset level,” he said.

“As an asset investor, we look at quality of asset, quality of location and managers. We look to outperform the market, so even if there’s a trade war or impact, we hope our investments will do better than our competition. That’s all we try to do.” – Reuters 
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