TOKYO, June 8 (Reuters) - Norges Bank Investment Management, which manages the world’s biggest sovereign wealth fund, plans to open an office in Tokyo to seek real estate investment opportunities as the market has rebounded, a move that could bring more investment in the property market.
“We are currently in the process of hiring and building a team,” said Line Aaltvedt, an adviser for communications and external relations for Norges Bank Investment Management, a unit of Norwegian central bank Norges Bank. She declined to elaborate.
A rebound in Japan’s real estate market has been driving offshore investors with plentiful capital to look for investment prospects in Japan.
The market recovery has been driven by aggressive monetary expansion policies taken under Prime Minister Shinzo Abe during his two-and-a-half years in office.
Norges Bank Investment Management, which already invests in Japan’s stocks and bonds, has offices in London, New York, Shanghai and Singapore. (Reporting by Junko Fujita; Editing by Anand Basu)