India looms large in today’s real estate news from around the region with US buyout giant KKR jumping into the country’s shopping scene by purchasing a stake in Reliance Group. That deal comes in the same month that KKR signed up to invest in the Indian conglomerate’s Jio mobile network business.
CapitaLand is also busy in India with a plan to build a new warehouse near Gurgaon and and Indian brokerage has signed up a new US partner.
KKR Agrees to Pay $755M for Stake in Reliance Retail
American buyout firm KKR & Co will invest Rs 5,550 crore ($755 million) in Reliance Retail in exchange for a 1.28 percent stake, the second deal stitched up by the Reliance Industries Ltd (RIL) unit in as many weeks.
The investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore, RIL said in an exchange filing on September 23. Read more>>
CapitaLand in Talks to Develop 3M Sq Ft Warehouse Near Gurgaon
CapitaLand is in talks to develop 3 million square feet of warehousing space in Sohna, near Gurgaon, as investors rush to invest in a segment that’s growing at a fast clip despite the economic slump owing to increasing demand from e-commerce companies, said two persons aware of the matter.
The company is in discussions with Mayar Group, which owns a 100-acre land parcel in Sohna, they said. “It is going to be a joint venture where the foreign fund will develop and lease it. The expected investment will be around Rs 450 crore,” said one of the persons, who did not wish to be identified. Read more>>
PE Real Estate Investment in India Down 85% in 2020
Private equity investment in Indian real estate plunged 85% during January-August period of this year at $866 million (around ₹6,500 crore) as investors remained cautious due to the COVID-19 pandemic, according to Colliers International and FICCI report.
The private equity (PE) inflow stood at $5,795 million in the corresponding period of the previous year. Read more>>
India Real Estate Brokerage Anarock Lands US Partner
Real estate consultant Anarock on Tuesday said it has partnered US-based Binswanger to offer advisory, brokerage and transaction services in the industrial and logistics parks segment.
The two partners — Binswanger Commercial Real Estate Services and Anarock — will offer these services on industrial real estate opportunities between India, the US and other global markets, Anarock said in a statement. Read more>>
Shanghai Construction Buying Green Consultancy for $48M
The landscaping arm of Shanghai Construction Group is buying Shanghai Greenment Environmental Technology, one of the country’s largest independent environment consulting service providers, for RMB 327M (USD48 million).
Shanghai Garden Group will acquire Greenment Environmental to further the development of Shanghai Construction’s ecological landscape and environmental engineering businesses, the parent firm said at an event held in Shanghai today. Read more>>
Developers Eye HK’s Guishan Island to Ease Land Woes
A guild of developers and real estate professionals have proposed to reclaim several islands lying in the sea between Lantau Island and Macau to augment the Hong Kong government’s HK$624 billion ($80B) Lantau Tomorrow reclamation project for alleviating the city’s land shortage.
The proposal by the 229-member Hong Kong Real Property Federation (HKRPF), would reclaim 60 square kilometres of land on three sets of islands around Guishan, and free up the equivalent of 500 hectares of land in Hong Kong for housing 800,000 residents, according to a proposal unveiled on Monday. The plan may be handed over to city authorities, as well as the government in the Guangdong provincial city of Zhuhai, under which Guishan is administered. Read more>>
Singapore REITs Set for Broad Recovery After Covid-19 Hit
Singapore’s real estate investment trusts (Reits) have survived the worst stretch of the coronavirus pandemic and are now set to stage a broader rebound.
There were plenty of questions raised about the future of Reits amid the mobility restrictions in the first half of the year, but the sector has performed surprisingly well in terms of share price and other valuations. Read more>>
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