China’s Country Garden Holdings on Thursday unveiled a restructuring plan aimed at cutting its offshore debt by up to $11.6 billion, but the troubled developer and its rivals have given little cause for confidence as their home sales continued to… Read More>>
Texas Teachers’ Commitments to Real Estate Jump 61% in 2024 to $1.6B
The Teacher Retirement System of Texas committed $1.64 billion to private real estate funds in 2024, marking a 61 percent surge from the pension manager’s total commitment the year before.
The annual increase was due entirely to TRS’s December real… Read More>>
Gloom Deepens for Hong Kong’s Cheng Family as Aussie Casino Operator Runs Low on Cash
An Australian casino operator backed by the Cheng family controlling Hong Kong’s New World Development revealed Wednesday that its available cash fell 47 percent in the three months to 31 December, throwing doubt on its future as the company faces… Read More>>
Centurion Explores REIT IPO as Singapore Property Trusts Look to Rebound
Singapore’s Centurion Corp is considering the launch of an SGX-listed REIT, potentially braving an initial public offering after a lacklustre 2024 for the market’s property trusts.
The REIT’s portfolio would comprise some of the developer’s student and worker housing assets,… Read More>>
Hong Kong Government Tests Waters With Residential Land Tender After MTR Plot Sale
Following last month’s successful sale of a Lantau Island residential site by MTR Corp, the Hong Kong government plans to relaunch its tender of a nearby plot as its sole piece of land to go up for sale during the… Read More>>
Chinese Estates Sells London Office Block to Oracle’s Larry Ellison for 19% Below Asking Price
Chinese Estates Holdings has completed the sale of an office block in London’s West End for £162 million ($203.1 million), a sum representing a 19 percent discount to the Hong Kong-based company’s asking price for the property.
The firm formerly… Read More>>
Japan Real Estate Deal Volume Fell 3.4% in 2024 as Foreign Investors Pulled Back: C&W
Real estate transaction volume in Japan fell 3.4 percent to JPY 8 trillion ($51 billion) for the 12 months to the end of November 2024 compared with year-earlier levels as foreign inflows into the market eased, according to Cushman &… Read More>>
CPPIB Exits Goodman US Warehouse JV With $1B Sale to Norway’s Norges
The Canada Pension Plan Investment Board has sold its interest in a North American warehouse partnership with Australia’s Goodman Group, dealing the 45 percent stake to Norway’s sovereign wealth fund last week for $1.07 billion.
The transaction with Norges Bank… Read More>>
Morgan Stanley Says Singapore Home Speculation Could Lead to Fresh Cooling Measures
With prices for private homes in Singapore up 2.3 percent on a quarterly basis in the last three months of 2024, Morgan Stanley says new cooling measures could be on the horizon if speculative purchases continue to amplify sales.
Robust… Read More>>
Henderson Land Prepares to Add to Mid-Levels Site in Hong Kong
Hong Kong heavyweight Henderson Land has applied for the compulsory sale of an ageing apartment block in the city’s Mid-Levels, aiming to add the asset to a redevelopment site with two already-acquired adjacent buildings.
The blue-chip builder holds 69.23 percent… Read More>>
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