Chuan Hup’s Queensland projects include the 54-unit 8 Enderley Avenue
In today’s roundup of regional news headlines, Singaporean developer Chuan Hup plans a new addition to its Australian property portfolio, and BOJ boss Haruhiko Kuroda clarifies his goals after last week’s widening of the allowance band for the central bank’s yield target.
Chuan Hup Joins With Siera to Buy Queensland Residential Site for $10.8M
Singapore’s Chuan Hup Holdings has formed a joint venture with Australian builder Siera Property Group to acquire and develop a site in Bilinga, Queensland.
The JV will acquire the 1,214 square metre (13,067 square foot) site at 303 Golden Four Drive for A$16 million ($10.8 million), excluding government taxes, for the construction of an 11-storey residential building comprising 19 apartments. Read more>>
BOJ Chief Kuroda Dismisses Near-Term Chance of Exiting Easy Policy
Bank of Japan governor Haruhiko Kuroda on Monday brushed aside the chance of a near-term exit from ultra-loose monetary policy but voiced hope that intensifying labour shortages would prod firms to raise wages.
Kuroda said the BOJ’s decision last week to widen the allowance band around its yield target was aimed at enhancing the effect of its ultra-easy policy, rather than a first step towards withdrawing its massive stimulus programme. Read more>>
Welspun Completes Sale of 6 Indian Road Assets to Actis for $729M
Indian infrastructure firm Welspun Enterprises on Friday completed the sale of six of its operational road assets to Actis Highway Infrastructure at an enterprise value of INR 6,025 crore ($729 million).
The projects comprise five hybrid annuity model assets — Welspun Delhi Meerut Expressway Private Ltd, Welspun Road Infra, MBL (CGRG) Road, MBL (GSY) Road and Chikhali Tarsod Highways — and one build-operate-transfer toll asset called Welspun Infrafacility. Read more>>
SBI Affiliates to Buy Real Estate Loan Company for $1.5B
An investment fund affiliated with Japan’s SBI Holdings has partnered with SBI unit Shinsei Bank to acquire a major real estate loan company, as the entire SBI Group collaborates to boost Shinsei’s profitability and help it repay public funds, Nikkei has learned.
The investment fund, Keystone Partners, has entered final arrangements to buy Tokyo-based real estate lender Diamond Asset Finance from Mitsubishi HC Capital, a major leasing company. The total purchase price, including loans, is estimated to be JPY 200 billion ($1.5 billion). Read more>>
China to Reopen Borders, Drop COVID Quarantine From 8 January
China will reopen borders and abandon quarantine after it downgrades its treatment of COVID-19 on 8 January.
The decision is the country’s last step in shedding three years of zero-COVID policies and pivoting to living with the virus. COVID-19 has been managed as a top Category A infectious disease since 2020, putting it on a par with bubonic plague and cholera. Read more>>
Chinese Cities Issue Vouchers to Prop Up Consumer Spending
Local governments across China have issued a new round of consumption vouchers to boost the recovery of catering, tourism, retail and other industries weighed down by the COVID-19 epidemic.
The southern metropolis of Guangzhou has issued coupons worth a total of RMB 30 million ($4.3 million), covering catering, e-commerce, retail and hotel businesses. Read more>>
HDFC Gets $400M IFC Loan to Finance Green Affordable Housing Units
The International Finance Corporation has extended a $400 million loan to Indian mortgage major HDFC for financing green affordable housing units as part of efforts towards supporting climate goals.
The companies in separate statements on Friday said the loan would help close the urban housing gap and improve access to climate-smart affordable homes by boosting green housing, which will go some ways in supporting the country’s shift towards a more sustainable growth path, creating jobs and ensuring long-term business growth. Read more>>
China’s Haphazard ‘Three Arrows’ Could Shrink Property Sector
On a sunny afternoon in September 2019, Xu Jiayin, surrounded by tower cranes, concrete trucks and the noise from drilling machines, stood arms akimbo, looking around.
It was not just any construction site in Xu’s sprawling real estate empire. It was the site of a 700 metre (2,297 foot) tower that was to be the headquarters of China Evergrande Group. When complete in 2024, it would be a crowning glory for the then third-richest individual in China, who brought along with him a handpicked team of several executives from the country’s biggest developer. Read more>>
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