A Singapore-listed REIT sponsored by CDL may include the HSBC headquarters on London’s Canary Wharf
In today’s roundup of regional news headlines, HSBC’s London headquarters is a potential cornerstone holding of a planned CDL REIT, co-living operator Hmlet scores a $6 million infusion to help turn around its fortunes, and a Frasers-sponsored Singapore trust obtains its first green loan.
CDL REIT May Include London’s HSBC Headquarters
Qatar Investment Authority is in talks to inject HSBC Holdings’ London headquarters building into a planned property trust being listed by City Developments Ltd, people with knowledge of the matter said.
The potential deal would boost the value of the REIT’s portfolio to £1.8 billion ($2.6 billion) from £600 million, said the people, who asked not to be identified as the information is private. Read more>>
Hmlet Bags $6M Injection from Investors in ‘Down Round’, Exits Australia
Co-living operator Hmlet has received a $6 million injection, which the company hopes will help turn the tides in its favour amid a recovering rental market.
Challenged by the pandemic, the embattled startup had previously lost its chief executive and many top management executives, downscaled its portfolio and faced a dwindling cash runway, The Business Times reported. Read more>>
Frasers-Sponsored Singapore Trust Gets Maiden S$589M Green Loan
Sapphire Star Trust, the owner of Waterway Point, has obtained its maiden green loan of S$589 million ($442.2 million) from Sumitomo Mitsui Banking Corporation’s Singapore branch and United Overseas Bank.
The two banks are the mandated lead arrangers and original lenders, as well as green loan coordinators for the loan. Read more>>
HK Luxury Rebound Could Boost Bids for Jardine’s Lookout Site
A site at Jardine’s Lookout being offered for sale through tender might be snapped up quickly amid an upswing in Hong Kong’s luxury housing market, according to real estate agency Savills.
While there is no indicative price for the site at 8 Purves Road, its market valuation could be around HK$500 million ($64.39 million) to HK$600 million, according to surveyors. With a maximum plot ratio of 0.6, the site can be redeveloped into a three-storey house with a maximum gross floor area of 5,888 square feet (547 square metres) on a site area of 9,814 square feet. Read more>>
China Close to Kicking Off Public REIT Market
China is close to kicking off its long-awaited public REITs market, with regulators approving the first batch of nine real estate investment trusts that will raise an estimated RMB 30 billion ($4.7 billion) for infrastructure projects.
Late on Monday, the China Securities Regulatory Commission approved the registration of the nine REITs, which will channel investors’ money into projects ranging from tollways and warehouses to industrial parks and sewage plants. Read more>>
HK Property Tycoon Says His Land Reclamation Plan Will Save the City
Hong Kong real estate magnate Gordon Wu said an ambitious land reclamation project can help solve housing and social problems.
The 85-year-old billionaire chairman of Hopewell Holdings, who enjoys good ties with Beijing, said the Hong Kong government’s Lantau Tomorrow project, which will cover an area about a third of the size of Manhattan, will increase land supply and make housing more affordable. Read more>>
Brisk Sales in Singapore Shophouse Market This Year
Transaction activity in the Singapore shophouse market has been brisk this year from both local and foreign buyers who see it as a property segment that generally holds its value, as it did last year despite the COVID-19 crisis.
Since the start of this year, shophouses worth some S$600.9 million ($451 million) have been transacted, according to a CBRE analysis. That is two-thirds of the S$908.7 million for the whole of last year. Read more>>
Shoppers Flee as Shenzhen Skyscraper Shudders
One of China’s tallest skyscrapers was evacuated Tuesday after it began to shake, sending panicked shoppers scampering to safety in the southern city of Shenzhen.
The 2000-vintage SEG Plaza inexplicably began to shake at around 1pm, prompting an evacuation of people inside while pedestrians looked on open-mouthed from the streets outside.
The 980 foot (299 metre) building was sealed shut as of 2.40pm, according to local media reports. Read more>>
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