Silkroad Managing Partner Peter Wittendorp
A Singapore-based property fund has reached a final close on its oversubscribed real estate fund, a Singapore giant hopes to back the next real estate tech unicorn, and Hong Kong’s developer pile on the incentives as the market slides. Read on for all these stories and more.
SilkRoad Property Partners Closes $445M Fund
Singapore-based private equity real estate firm SilkRoad Property Partners has made the final close of its oversubscribed real estate fund, SilkRoad Asia Value Partners, at $445.5 million, exceeding the target of $350 million.
The fund was launched in August 2014 and achieved its first closing on December 5, 2014 with a total amount of $230 million. Its investors include insurance companies, endowments, pension funds and other top-tier institutional investors from Europe, North America and Asia. Read more>>
CapitaLand Sets Up Venture Fund for Real Estate Innovation
CapitaLand has set up a venture fund to support start-ups focusing on innovation in the construction industry.
The C31 Ventures fund is part of the developer’s strategy to gain access to ideas that will become increasingly crucial in construction, such as shopping malls with complete network connectivity or residences that use digital technology. Read more>>
More HK Developers Offer Incentives as Market Slides
Developers have put more primary units on the market with different financial incentives to attract purchasers.
Henderson Land Development (0012) put 16 more units of Axis, a project in To Kwa Wan, on the market, while releasing a new price list yesterday.
Henderson continues to provide the highest discount of 15 percent. The discounted prices for units range from HK$4 million to HK$4.83 million, for flats of 282 saleable square feet. Read more>>
Yau Lee Holdings Wins Contract for Tai Kok Tsui Site
Yau Lee Holdings (0406) has won the contract for the development of the Pine Street/Oak Street demand-led project in Tai Kok Tsui, the Urban Renewal Authority announced yesterday.
The project site covers an area of about 8,256 square feet, and will provide about 115 residential units with a total residential gross floor area of about 61,935 square feet. Read more>>
Hong Kong Developers Turn to Design Amid Downturn
Hong Kong real-estate developers are turning to art and design to differentiate themselves in a crowded market.
Here among high-rise offices and luxury-goods retailers, the city’s first commercial building dedicated to exhibiting art is being built in its Central business district. A few miles away, a new luxury residential complex has been meticulously curated by a billionaire property tycoon. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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