…ported a 1.6 percent sales increase from the previous year to 37.1 billion euros. Profit took a dive, however, with a 33.5 percent plunge to 345 million euros. So far this year, Metro’s stock price on the German exchange Xetra has fallen more than 20 percent to less than $14 from more than $17 in January. Fosun’s Folli Follie Folly While the Fosun marriage holds the promise of access to a mainland where first quarter retail sales of $1.44 billion…
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WeWork, naked Hub Push Co-Working into Alibaba’s Home Town
…eing expansion into select second-tier markets. naked Hub will land in the Euro America Centre (EAC) in a high-tech development zone in the capital of eastern China’s Zhejiang province, as part of a new partnership with the property’s developer, the company announced this week. The two-year-old startup also plans to open two new locations in Shanghai and one in Beijing early next year. Rival WeWork, the world’s largest co-working operator, is also…
Li Ka-shing’s Watson Group Sued Over Unpaid Rent and More Asia Real Estate Headlines
…on, who owns around 30 shops in Dordrecht, has launched a case against the European arm of AS Watson, which also owns Superdrug and posted revenues of more than €10 billion in 2019. The company is a key asset in Hong Kong tycoon Li Ka-shing’s global business empire. Mr van Loon has launched court proceedings to have the company declared bankrupt on the basis that its subsidiary, perfume shop ICI Paris XL, has withheld rent payments for April from…
Indonesia’s Sinar Mas Buying London Building From Landsec for $238M
…5) per square foot. The property’s ground-floor retail offerings include a Superdrug pharmacy, a Sainsbury’s Local convenience store, and Lloyds and NatWest bank branches, as well as McDonald’s and Itsu restaurants. “The sale of Strand crystallises value that we’ve created since its comprehensive refurbishment in 2012 and more recently through active asset management to extend the length of the office and retail income,” Marcus Geddes, Landsec’s m…
The Millennial Force: Changing the Workplace and its Culture Sponsored Feature
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Li Ka-Shing Cashes Out of Shanghai Office Project for US$1.15 Billion
…tre in Pudong Mr Li is reportedly redirecting his investment activities to Europe. According to a recent media report, Hutchison Whampoa has already signed five investment deals in Europe this year, with a total value of more than $4 billion. This divestment from China happens as global private equity firms and other western institutional investors have become more aggressive about buying Chinese real estate assets. In recent months, Blackstone, E…
GLP Acquires $1.1B US Warehouse Portfolio and More Asia Real Estate Headlines
…enshoutang operates 11 eldercare facilities with over 2,400 beds, and four pharmacies, each with a dedicated TCM (Traditional Chinese Medicine) clinic. They are located predominantly in Changning District in Shanghai. Read more>> China Real Estate Investment Growth Edges Upward in August Investment growth in China’s real estate quickened slightly over January-August, suggesting investors still have confidence in a booming market even as more local…
Former Link REIT Retail Centre on Market for 2x 2016 Price and More Hong Kong Real Estate Headlines
…feet (5,853 square metres). Mainly leased to restaurants, supermarkets and pharmacies, the centre’s occupancy rate is 90 percent. The property generates a rental yield of 4.1 percent for the owner, which bought the asset in 2016 for HK$440 million ($56 million). Read more>> Hong Kong Task Force Looks into Building 22,000 Homes at Tuen Mun Port Site A 65-hectare (161 acres) container terminal near Tuen Mun in Hong Kong’s northwest could be a site f…
HK Home Sales Could Drop 80% Amid Virus Scare and More Asia Real Estate Headlines
…elt amid scenes of city residents making a beeline for face masks at local pharmacies and empty shelves in neighbourhood supermarkets over the past week. Read more>> China State Construction Engineering Completes Wuhan Hospital in 10 Days Crews have completed the rapid 10-day construction of the Huoshenshan Hospital in Wuhan. The building was handed over to the medical team of the People’s Liberation Army of China, which will set up and manage the…
Softbank’s Oyo Furloughs Thousands as Operations Freeze and More Asia Real Estate Headlines
…l 1 to April 14, although certain essential services such as supermarkets, pharmacies and clinics have stayed open. Read more>> Singapore Condo Resale Volume up 17% in March The number of Singapore condominium units resold in March increased 17 percent to 709 units from 606 units in February, according to flash estimates from real estate portal SRX Property. However, the resale volume was 13 percent lower versus a year ago and down 21 percent from…
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