Blackstone sold the MIlestone Logistics portfolio to ESR and GIC for $2.9 bil last year
In today’s roundup of regional news headlines, Blackstone tops GIC as Australia’s most prolific dealmaker of 2021, Singapore development giant CDL invests in Taronga Ventures’ flagship proptech fund, and Hong Kong residential sales tumble 33 percent on a month-to-month basis.
Blackstone Confirmed as Australian Property’s Top Foreign Dealmaker
Global investment powerhouse Blackstone has emerged as the Australian commercial property market’s top foreign dealmaker, both buying and selling more than any other overseas-based enterprise.
Singaporean sovereign wealth fund GIC was second in both the foreign “top buyers” and “top sellers” list for 2021 compiled by Real Capital Analytics, with the two businesses on different sides of the year’s biggest deals twice. Read more>>
Singapore’s CDL Invests in Taronga Ventures Fund
City Developments Ltd has committed an undisclosed sum of investment to venture capital firm Taronga Ventures’ RealTech Ventures Fund.
RealTech is the flagship Asian property technology fund managed by Taronga, which has offices in Singapore and Australia. Read more>>
Hong Kong Residential Sales Slump 33% Under Covid Siege
Residential property sales in Hong Kong last month slumped more than 33 percent from January and nearly halved from a year ago, according to the Land Registry.
The total value of traded residential homes in February was HK$29.5 billion (now $3.8 billion), a 33.7 percent fall from the previous month and a year-on-year plunge of 48.2 percent. Read more>>
China’s Banking Regulator Welcomes Home Price Adjustments
China’s chief banking regulator signalled that he’s comfortable with moves being seen in home prices during the industry slowdown — as long as they aren’t too extreme.
“Now there have been some adjustments in property prices, and changes in the structure of demand — a good thing for the financial sector,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said at a Wednesday briefing. “But we don’t want the adjustments to be too drastic, or the impact on the economy too big.” Read more>>
Historic Singapore House Sold to Entity Linked to Indonesian Tycoon
National monument House of Tan Yeok Nee has been sold for an undisclosed amount to an entity linked to the family of low-profile Indonesian tycoon Bachtiar Karim.
The Business Times understands that the property was sold below the asking price of S$92 million ($67.8 million) but above S$85 million. Read more>>
Condo Complex on Singapore’s East Coast Marketing for $35M
A block of 24 flats along Singapore’s Haig Road was put up for collective sale via tender with an indicative price of S$48 million ($35.4 million) on Thursday, said sole marketing agent Colliers.
The freehold residential development sits on 27,389 square feet (2,545 square metres) of land with a gross plot ratio of 1.4. Read more>>
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