Less than a week after Mapletree Investments proposed to merge two of its commercial REITs, Moody’s Investors Service has placed Mapletree Commercial Trust under review for a potential credit rating downgrade as MCT’s Temasek Holdings-backed sponsor works to sell the… Read More>>
Amazon Wins Round in India Retail Battle with Future Group, Reliance
Delhi’s top court has rejected a plea from a retail unit of billionaire Kishore Biyani’s Future Group to quash Singapore arbitration proceedings filed by e-commerce giant Amazon, dashing the troubled Indian retailer’s hopes to overturn a case that… Read More>>
Mapletree Proposes $3.13B Merger of Singapore, North Asia Commercial REITs
Mapletree Investments is proposing to merge Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) in a S$4.22 billion ($3.13 billion) deal which would create Asia’s seventh-largest REIT.
If shareholders approve, the merger would establish Mapletree Pan Asia… Read More>>
CDL Chairman Names Nephew as Group COO, Refills Empty Board Slots
With a fresh round of cooling measures having dealt a fresh blow to a company still reeling from a S$1.9 billion (now $1.4 billion) loss last year, City Developments Ltd (CDL) has turned to the family for some help.
The… Read More>>
GuocoLand Promotes Singapore Team as Group CFO Steps Down
GuocoLand’s group chief financial officer Gregory Sim Chee Wah has stepped down after a year and a half of service to pursue personal endeavors, the Singapore-listed developer announced Wednesday, with the departure coming half a year after the developer named… Read More>>
Keppel DC REIT Expands UK Portfolio With Purchase of Vodafone Facility
Keppel DC REIT has added a third UK property to its portfolio through a £57 million ($76.45 million) acquisition announced this week, as it faces new competition on the Singapore Exchange.
The Singaporean trust has agreed to buy a freehold… Read More>>
Neil Bush Exits Stake in Singapore Developer as Mainland Tycoon Buys Out SingHaiyi
Neil Bush is selling his minority stake in a Singapore property developer controlled by a long-time business partner and Bush family booster, according to a filing with the Singapore Exchange, with the younger brother of former US President George W… Read More>>
CapitaLand’s CICT Spending $305M to Buy Third Sydney Office Project This Month
Singapore’s CapitaLand Integrated Commercial Trust Management Limited (CICT) is set to buy a half stake in a North Sydney commercial complex from fund management giant Nuveen for A$422.0 million ($305 million), in a deal marking the acquisition of its third… Read More>>
AM Alpha Buys Robinson 112 in Singapore, TE Capital Links With LaSalle for PIL Building
Singapore’s Robinson Road remains a hotbed for investors looking for office assets with upside, with local asset manager Lion Trust last week agreeing to sell its headquarters on the commercial strip near Tanjong Pagar to German investment manager AM Alpha… Read More>>
AEW Buys Hong Kong Hotel From Chuang’s Consortium for $210M
AEW Capital Management has agreed to purchase a Kowloon hotel from Chuang’s Consortium International Ltd for HK$1.65 billion ($210 million) as hospitality to rental residential conversions come into vogue amid Hong Kong’s extended travel slump.
The Boston-based fund manager has… Read More>>
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