With the release of consumer-ready AI tools like ChatGPT and Google’s Bard making powerful labour-saving tech available as never before, a study released by Bloomberg last month estimated that the market for generative artificial intelligence will grow to $1.3 trillion… Read More>>
Shimao Shares Slide 67% as Trading Resumes and More Asia Real Estate Headlines
More trouble for China’s housing giants leads today’s collection of real estate headlines from around the region, as Shimao is punished on the HKEX as two of its competitors are downgraded by Moody’s. Also making the list is some upside… Read More>>
Asia Real Estate People in the News 2023-07-31
A new hire at a top US fund manager and an upgrade at one of Canada’s largest pension fund managers lead this week’s survey of personnel moves around Asia’s real estate industry, with a Beijing-based data centre operator and a… Read More>>
Wing Tai Cancels Buy of Singapore Residential Project as Market Cools
Developer Wing Tai Holdings is backing out of a deal to acquire a residential project in Singapore’s Holland Village area, saying that conditions for completion of the deal signed by its Wincove unit in March had not been met.
“The… Read More>>
Singapore Home Prices Dip for First Time in Three Years as Supply Rebounds
The first dip in Singapore’s housing market in three years was confirmed on Friday when the city-state’s government released official figures showing that average prices for new private homes dropped 0.2 percent in the second quarter, compared to the first… Read More>>
Evergrande Car Unit Slides 69% as Trading Resumes and More Asia Real Estate Headlines
Evergrande may have flunked out of the electric vehicle competition, but it was stuck this week with a $2.8 billion tuition bill, per a story that leads today’s roundup of real estate news from around the region. Also in the… Read More>>
China’s Sino-Ocean Asks for Extension on $1.8B in Bonds to Stave Off Default
Sino-Ocean Group is appealing to creditors for more time to meet payments coming due by 5 August on $1.8 billion in offshore bonds, according to a statement to the Hong Kong exchange late on Wednesday, as the mainland developer faces… Read More>>
HSBC Raises Hong Kong Prime Rate After Fed Hike and More Asia Real Estate Headlines
The rising price of borrowing leads today’s roundup of regional real estate news as Hong Kong’s largest bank raises interest rates to a 16-year high. Also in the headlines today, a pair of shophouses has changed hands in Singapore’s Serangoon… Read More>>
Asia Real Estate People in the News 2023-07-24
In this week’s look at human resources happenings in Asia’s real estate industry, the manager of a Singapore-liste REIT is looking for a new CEO, a senior member of Hong Kong’s billionaire Chiu family gets a title upgrade, and Lai… Read More>>
Warburg Pincus Asia Real Estate Head Jeffrey Perlman Promoted to Global President
A US private equity giant is turning to Asia as it upgrades its management team, with Warburg Pincus today announcing that it will promote Jeffrey Perlman to president.
“Jeff is at the core of a very talented next generation of… Read More>>
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