Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

17 Bidders Offer Up to $5.8B for Anbang US Hotels and More Asia Real Estate Headlines

2019/05/22 by James Hatton Leave a Comment

Wu Xiaohui

Anbang founder Wu Xiaohui was jailed last year

A disgraced Chinese insurer leads the way in our roundup of Asia real estate news today as the company’s administrators field offers of up to $5.8 billion for its set of US luxury hotels.

While that mainland investor winds up its overseas holdings, a South Korean consortium has landed in Europe to make one of Austria’s  largest real estate acquisitions ever, while a Singapore developer is teaming up with data centre operator to launch a $219 million server shed in Bangkok.

In other news around the region, tax changes are driving away property investors in South Korea, and Hongkongers are resorting to still more desperate measures to get on the property ladder.

17 Bidders Offer Up to $5.8 Bil for Anbang’s US Hotel Portfolio

Chinese authorities unwinding Anbang Insurance have received offers of up to $5.8 billion for the conglomerate’s US luxury hotels business from potential bidders including Blackstone and Brookfield, according to people familiar with the sales process.

Seventeen potential buyers, which also include South Korea’s Mirae Asset Management, SoftBank-owned Fortress, and GIC, Singapore’s sovereign wealth fund, have made it to a final round, these people said. Read more>>

South Korean Consortium Buys Vienna’s T-Center for €300M

Quadoro Real Estate GmbH, consultant to the GENO EuropaFonds, Wien fund, has brokered the sale of the T-­Center in Vienna’s 3rd district to a South Korean investor consortium led by KTB Investment & Securities and KTB Asset Management. At approximately €300 million ($335 million), the sale is one of the largest real estate transactions in Austria to date.

In the run-­up to the sale, Quadoro succeeded in prematurely extending the building’s main leases on a long­term basis and increasing its occupancy rate. This enabled the successful positioning of the T­-Center as an investment property. Quadoro will also take over the asset management of the property for the new owners. Read more>>

Oxley to Wrap Up S$1B Sale of Chevron House to AEW by 2020

Oxley Holdings will complete asset enhancement initiative (AEI) works on Chevron House and expects to achieve final completion of the sale of the 32-storey Raffles Place commercial building no later than the first quarter of 2020.

It will also divest the retail and banking units “as soon as practicable, taking into consideration market conditions” but will do so before the final completion, the highly-geared developer said on Tuesday in response to Singapore Exchange queries. Read more>>

Frasers JV to Build $219M Data Centre in Bangkok

ST Telemedia Global Data Centres (STT GDC) and Frasers Property (Thailand) Public Company (FPT) is investing seven billion baht ($219 million) to build a data centre development in Bangkok.

The move builds on their joint venture partnership announced in April last year with Thai developer FPT, which was then known as Ticon. STT GDC is owned by ST Telemedia. Read more>>

SG Commercial Property Investment Jumps 72%

Singapore escaped the downtrend that caught every other major national Asia Pacific (APAC) real estate market in the first quarter of this year, with commercial real estate investment jumping 72 per cent year-on-year to $1.9 billion (S$2.6 billion), data released by Real Capital Analytics (RCA) on Tuesday (May 21) show.

“While the last three months of 2018 were dominated by a handful of major deals in the industrial sector, the start of this year was characterised by a more diverse range of transactions in the retail and office, as well as industrial sectors,” said Petra Blazkova, RCA’s senior director of analytics for APAC. Read more>>

Investors Back Flee South Korean Real Estate after Tax Changes

Local and foreign investment in South Korean real estate dropped by nearly a third in the first three months of the year as Seoul announced plans to remove tax perks granted to the most common ­investment vehicles used by institutional investors.

In the first quarter of the year, total foreign and local investment declined 31 per cent to $4.44 billion from $6.47 billion in the same period last year, data from Real Capital Analytics showed. Read more>>

Squeezed Hongkongers Resort to Expensive Loans with Developers

Squeezed out of owning an old home in the city by tightened mortgage rules, Hongkongers are increasingly buying smaller but more expensive new apartments. Unable to apply for an adequate mortgage from banks, they are turning to developers, who provide loans amounting to as much as 90 percent of a property’s value, no matter what the cost.

Penny Li, 35, a finance professional, ended up buying a smaller and more expensive new apartment as she could not get a mortgage for an old home in a better location that she had her eye on. With an initial deposit of as little as HK$1 million ($127,404), she secured a 530 square foot home that costs HK$9.4 million.Read more>>

Crown Group Unveils $950M Jakarta Waterfront Project

Australian developer Crown Group has unveiled its maiden precinct project in Jakarta, Indonesia. The waterfront project will comprise about 2,000 luxury homes and will feature its own marina, beach club, and dining area.

The entire development will be built on a 4.7ha site and is expected to cost about A$1 billion ($950 million). It will also feature retail shops, restaurants, and its own commercial area. The first phase comprising 800 apartments is expected to be completed by 2024, while another 1,500 apartments are planned for the second phase. Read more>>

Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.

Related Stories

  • JD, Carlyle Said Bidding for CJ’s China Logistics and More Asia Real Estate HeadlinesJD, Carlyle Said Bidding for CJ’s China Logistics and More Asia Real Estate Headlines
  • Oxley Offers Podium of Singapore’s Chevron House for S$475MOxley Offers Podium of Singapore’s Chevron House for S$475M
  • AEW Buying Singapore’s Chevron House From Oxley for S$1BAEW Buying Singapore’s Chevron House From Oxley for S$1B
  • AEW Said to Make S$1B Bid for Chevron House at Raffles PlaceAEW Said to Make S$1B Bid for Chevron House at Raffles Place

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: AEW, Anbang Insurance, Frasers Property, Hong Kong, Jakarta, Oxley Holdings, Singapore

Multi-Family Forum

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Altus Cashflow Ebook

Get Mingtiandi Delivered

Sustainability Forum

MTD TV

MTD TV Panel: Vietnam Logistics Real Estate Gains Favour With Investors in 2020

Proptech Forum: Logistics Tech

Logistics Experts Reveal How Tech Is Reshaping Asia’s Distribution Centres

More MTD TV Videos

Latest Stories

george hongchoy tb

Link REIT Buying Half-Stake in Vanke Shanghai Mall for $429M

Hines's managing director, Drew Huffman

Hines Ramps Up APAC Presence With New Hires in Japan, South Korea

CapitaLand Sinks to S$1.67B Loss in 2020 H2 and More Asia Real Estate Headlines

Sponsored Features

Tony Horrell

Colliers’ Global Investor Sentiment Report Anticipates Up to 50% Surge in Investment in 2021 Sponsored Feature

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

BlackRock Selling Singapore Industrial Asset to AEW for $107MBlackRock Selling Singapore Industrial Asset to AEW for $107M

Asia Real Estate People in the News 2021-02-22Asia Real Estate People in the News 2021-02-22

Skip Schwartz to Head Back to US as Heitman Preps New APAC LeadershipSkip Schwartz to Head Back to US as Heitman Preps New APAC Leadership


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team