…ogistics REIT issued by a private company, although a logistics fund sponsored by Warburg Pincus-backed developer DNE Group received approval to become a REIT last November. DNE’s D&J New Economy Industrial Park REIT is based on a portfolio of four Yangtze River Delta industrial parks with a valuation of RMB 1.38 billion. Singapore-based logistics giant GLP became the first international company to list a REIT in China when it partnered with a gro…
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Lim Family Selling Stake in Straits Real Estate for $78.3M and More Asia Real Estate Headlines
…gapore real estate agency PropNex is set to acquire a 70-per-cent stake in online marketplace Ovvy for S$1 million ($746,000), the mainboard-listed company said in an exchange filing on Monday. The acquisition by PropNex Grandeur Homes expands the group’s footprint in proptech, paving the way for it to offer more value-added real-estate services through an additional technology platform, PropNex said. Read more>> Ho Bee Land Chooses KSH to Lead Co…
Brookfield, Digital Realty Kick Off India Data Centre and More Asia Real Estate Headlines
…dia on 2 February, the billionaire Gautam Adani appeared in a video posted online to reassure his investors: Everything will be fine. For days, the shares of companies in his mighty Adani Group conglomerate had been in a tailspin. The selloff was triggered by a damning report published by a US activist short seller — an investor that bets on the prices of assets falling, then tries to make that happen by taking its case to the public. Read more>>…
IGIS Asia Closes 2nd Data Centre Fund at $151M
…seed assets to include in the vehicle, including assets it previously secured. The new fund comes after IGIS AIM created its first data centre fund in August 2021. The vehicle attracted US-based investors and developed a data centre project in Hanam, a city just east of Seoul in Gyeonggi province, as its inaugural investment. The Hanam IGIS Data Centre broke ground in October 2021 and is slated for completion later this year. IGIS Branches Out IG…
Adani Loses $9.4B in Value on Short-Sale Report and More Asia Real Estate Headlines
…to CoStar for $3B Rupert Murdoch’s News Corp is in talks to sell its Move online real estate business to CoStar Group. Move is the parent of Realtor.com and other property-related websites. The deal is worth about $3 billion, according to people familiar with the matter, who asked not to be identified discussing private matters. The sale could be announced within days, one of the people said. Read more>> Almost Half of Pune’s Grade A Office Stock…
ESR Exceeds $1B in Capital for First Closing of Inaugural Data Centre Fund
…nds Pour In During last year data centre operators in Asia Pacific brought online some 1.5 gigawatts of capacity across the region, according to Knight Frank, with more projects set to enter the market as funds pour into the sector. ESR’s Warburg Pincus stablemate Princeton Digital Group raised $505 million earlier this year to expand its Asia data centre network, led by a $350 million commitment from Abu Dhabi’s Mubadala Investment Company. In Fe…
Sunac Dumps More Than $1B in Beike Shares Amid China Developer Liquidity Scramble
…s just above its IPO price of $20 at $22.15 per share, with its market cap reduced to around $26.4 billion. Despite having lost out on the opportunity to sell its stock in the the online brokerage its peak in February, Sunac said in the filing that it had achieved “good investment returns”. The developer had joined China Vanke and other mainland real estate giants in investing in Lianjia in January 2017, taking a nearly 6.3 percent stake in the Be…
Mingtiandi Office Strategies Forum 2022 MTD TV Productions
…nt dedicated to the future of offices with more than 3,200 viewers joining online conversations with speakers from Allianz Real Estate, Hines, Baker McKenzie and SC Capital. For 2022, the Office Strategies Forum is back on MTD TV with a five session exploration of office strategies around Asia Pacific. The forum’s selection of panel discussions will kick-off with a session focused on core office investment, followed by a value-add and opportunisti…
Asia Real Estate People in the News 2020-01-13
…Land Development executive joins JD Property, the real estate division of online retailer JD.com as General Manager for International. Continuing to be based in Singapore, prior to signing up with China’s second-largest e-commerce operator, Phay had spent just over half of a year with Cushman & Wakefield as the agency’s Head of Industrial/Logistics for Southeast Asia. The former Goodman director also spent just under two years in Singapore with C…
Swire Properties Wins Wan Chai Residential Tender With $249M Bid
…isitions of stratified title ownership in existing buildings, Swire shouldered aside bids from developers such as Sun Hung Kai Properties and Henderson Land Development to win the plot, readying itself to develop a housing project that could be worth nearly HK$3 billion upon completion. Wan Chai Supply In Wan Chai, the developer had sold 28 of 37 units at Eight Star Street as of 8 March this year, according to its latest annual report, with sellin…