In today’s roundup of regional news headlines, Singapore-based Frasers Property refinances a large loan coming due next month, and Hong Kong investor Eric Chu tries to dump assets in a weak market. Also making the cut are developers on the… Read More>>
UBS AM Bets Big on Japan Multi-Family With $230M Tokyo Development Project
UBS Asset Management has launched a multi-family development project in east-central Tokyo that is expected to be worth $230 million upon completion, as Japan’s red-hot rental residential market continues to soak up foreign capital.
The project in Koto ward’s Kiba… Read More>>
ESR Selling 30% Stake in Hong Kong Cold Chain Project to Mainland Investor
ESR has agreed to sell a 30 percent stake in its Kwai Chung Cold Storage Logistics Centre project in Hong Kong to an unnamed “strategic investor” from mainland China.
With the transaction, ESR will reduce its own stake in the… Read More>>
China Holds Mortgage Rate Steady in Surprise Move and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China’s central bank dashes market expectations by leaving a mortgage reference rate on hold, and Singapore’s Housing and Development Board tweaks the policy framework for build-to-order flats. Also on the list are Evergrande’s… Read More>>
Longfor H1 Profit Edges Up 0.6% as Q1 Strength Outweighs Recent Slide
Longfor Group Holdings said its first-half core profit rose 0.6 percent year-on-year to RMB 6.6 billion ($910 million), as one of China’s biggest developers escaped the first half with a profit, thanks to a strong first quarter.
While revenue fell… Read More>>
ESR Breaks Ground on Osaka Logistics Park Touted as Largest in Japan
Industrial giant ESR has begun construction of a warehouse complex northwest of Osaka, billing the project as Japan’s largest-ever logistics park with a planned gross floor area of 750,000 square metres (8 million square feet).
Located 30 minutes from Osaka… Read More>>
China Evergrande Seeks US Bankruptcy Protection and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, embattled builder China Evergrande files for US bankruptcy protection as it looks to finalise debt restructuring plans, and the number of properties entangled in a Singapore money-laundering probe reaches 105. Also making the… Read More>>
CapitaLand Ascendas REIT Buys Fifth UK Data Centre in Northwest London for $160M
CapitaLand Ascendas REIT has completed the acquisition of a co-location data centre northwest of London for £125.1 million ($159.6 million), marking the Singapore-listed trust’s fifth server-hosting facility in the United Kingdom.
The purchase consideration took into account an agreed value… Read More>>
Country Garden Raises Doubts on Onshore Bond Payments as Offshore Default Looms
Chinese developer Country Garden appears headed for a full-scale restructuring after announcing Wednesday that “significant uncertainties” exist regarding the settlement of onshore bonds with an issued amount in excess of RMB 14.6 billion ($2 billion).
The lion’s share of the… Read More>>
Blackstone and KKR Bid for Korean Pension Debt and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, fund management colossi Blackstone and KKR throw their hats in the ring to manage a Korean pension fund’s overseas real estate debt, and jilted investors vent their rage at a Chinese shadow bank…. Read More>>
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