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Kwek Leng Beng CDL

CDL Buys Osaka Hotel for $58M, Adding to String of Hospitality Acquisitions

Kwek Leng Beng CDL

2023/08/31 by Christopher Caillavet Leave a Comment

City Developments Ltd has acquired a 256-room Osaka hotel for JPY 8.5 billion ($58 million), chalking up the Singapore property giant’s third hospitality acquisition this year.

CDL paid roughly $230,000 per key for the Bespoke Hotel Shinsaibashi, a freehold property… Read More>>

City Developments Ltd has acquired a 256-room Osaka hotel for JPY 8.5 billion ($58 million), chalking up the Singapore … Read more>>>

Yang Huiyan Country Garden

Country Garden Posts Six-Month Loss of $6.7B, Acknowledges Future in Doubt

Yang Huiyan Country Garden

2023/08/31 by Christopher Caillavet Leave a Comment

Country Garden Holdings posted a first-half loss attributable to shareholders of RMB 48.9 billion ($6.7 billion), reversing a RMB 612 million profit recorded a year earlier, as the embattled Chinese developer acknowledged for the first time that “material uncertainties” threaten… Read More>>

Country Garden Holdings posted a first-half loss attributable to shareholders of RMB 48.9 billion ($6.7 billion), … Read more>>>

vanke sign

State-Backed China Vanke Posts 19% Profit Decline and More Asia Real Estate Headlines

vanke sign

2023/08/31 by Christopher Caillavet Leave a Comment

In today’s roundup of regional news headlines, China’s second-largest developer, Vanke, reports a relatively modest profit drop as red-chip China Resources Land posts healthier numbers. In other mainland builder news, Sunac narrows its six-month loss while Country Garden faces a… Read More>>

In today’s roundup of regional news headlines, China’s second-largest developer, Vanke, reports a relatively modest … Read more>>>

FCT CEO Richard Ng

Frasers REIT Sells Mall in Singapore’s Changi to Mainland Family for $250M

FCT CEO Richard Ng

2023/08/30 by Beatrice Laforga Leave a Comment

Singapore-listed Frasers Centrepoint Trust is selling a mall near Changi airport for S$338 million ($250 million) to a mainland Chinese family, according to sources who spoke with Mingtiandi.

FCT’s manager told the local bourse on Wednesday that it has entered… Read More>>

Singapore-listed Frasers Centrepoint Trust is selling a mall near Changi airport for S$338 million ($250 million) to a … Read more>>>

CHENG HSING YAO

GuocoLand Revenue Jumps 60% as Singapore Office Project Gains Steam

CHENG HSING YAO

2023/08/30 by Christopher Caillavet Leave a Comment

GuocoLand’s full-year profit fell 47 percent on lighter investment gains and rising financial costs, but revenue surged 60 percent as the company began recording rental income from the Guoco Midtown office tower.

The Singapore development arm of Malaysia’s Hong Leong… Read More>>

GuocoLand’s full-year profit fell 47 percent on lighter investment gains and rising financial costs, but revenue surged … Read more>>>

Country Garden

Country Garden Selling $34M in Shares to Pay Off Kingboard Loan

Country Garden

2023/08/30 by Christopher Caillavet Leave a Comment

Country Garden’s scramble to make good on debts continued Wednesday, with the Chinese homebuilder agreeing to sell HK$270 million ($34.4 million) in new shares to Kingboard Holdings in order to make a loan payment to the Hong Kong-based laminates maker… Read More>>

Country Garden’s scramble to make good on debts continued Wednesday, with the Chinese homebuilder agreeing to sell … Read more>>>

Ikea China

Ikea Announces $864M China Investment Plan and More Asia Real Estate Headlines

Ikea China

2023/08/30 by Christopher Caillavet Leave a Comment

In today’s roundup of regional news headlines, furniture giant Ikea pledges a substantial investment in China over three years, and Guangzhou takes cues from the central government with a planned relaxation of mortgage rules. Also, several Chinese banks are reportedly… Read More>>

In today’s roundup of regional news headlines, furniture giant Ikea pledges a substantial investment in China over three … Read more>>>

Anand Iyer MSREI

Morgan Stanley Invests in Mumbai Warehouse Project With Prakhhyat Group

Anand Iyer MSREI

2023/08/29 by Christopher Caillavet Leave a Comment

A fund managed by Morgan Stanley Real Estate Investing has partnered with Indian industrial builder Prakhhyat Group to develop a logistics project in Bhiwandi, near Mumbai.

The warehouse will span 700,000 square feet (65,032 square metres) at Prakhhyat Group’s K… Read More>>

A fund managed by Morgan Stanley Real Estate Investing has partnered with Indian industrial builder Prakhhyat Group to … Read more>>>

Kuok Khoon Hua Kerry

Kerry Properties H1 Profit Drops 37% as Asset Sales Slow

Kuok Khoon Hua Kerry

2023/08/29 by Christopher Caillavet Leave a Comment

Kerry Properties posted a 37 percent year-on-year drop in first-half profit, as the builder controlled by the family of Shangri-La Hotel tycoon Robert Kuok saw results moderate after exceptional gains from selling two Hong Kong warehouses in the prior-year period.

… Read More>>

Kerry Properties posted a 37 percent year-on-year drop in first-half profit, as the builder controlled by the family of … Read more>>>

Singapore-Listed Thakral Sells Osaka Hotel Stake, Eyes More Japan Divestments

2023/08/29 by Beatrice Laforga Leave a Comment

Thakral Corp has sold its 50 percent stake in a 120-key business hotel in Osaka for an undisclosed sum as the Singapore-listed investment firm continues to scale back its exposure to Japanese real estate.

The firm, whose businesses span real… Read More>>

Thakral Corp has sold its 50 percent stake in a 120-key business hotel in Osaka for an undisclosed sum as the … Read more>>>

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