Ascendas REIT chairman Lim Hock San
Asia’s real estate investors continue to go global in this holiday edition of Mingtiandi’s headline roundup, as a pair of Singapore listed trusts get active in sunny Brisbane, while another investment group from the city state shows up in Amsterdam as well. Meanwhile up in the greater China region, Fosun plans more shiny stores and Hang Lung hopes mini-golf will be a retail hole-in-one. Read on for all these stories and more.
Ascendas REIT Buys Brisbane Office Building for A$106M
Ascendas REIT said Friday it has acquired a suburban office property in Australia’s Queensland for A$106.2 million (S$109 million).
The fully occupied property comprises a six-storey office building with 141 carpark lots and expands 11,913 squares metres in area, the company said in an exchange filing. Read more>>
SG’s First Sponsor Makes S$88.6M Offer for Amsterdam Office Building
Mainboard-listed First Sponsor Group has proposed to acquire a second office building in Amsterdam’s central business district for 55.5 million euros (S$88.6 million) through the group’s wholly owned subsidiary.
The proposed deal, entered to on Dec 22, is for the majority apartment rights of Meerparc, a mixed use office property in the Netherlands. The amount includes transaction costs. Read more>>
CDL Hospitality Trusts Selling Pair of Brisbane Hotels for A$77M
Singapore CDL Hospitality Trusts is selling the Mercure Brisbane and Ibis Brisbane for A$77 million (S$80 million), the stapled group announced yesterday.
The sale price represents an exit yield of 5.3 per cent on the fixed rental, a 43.4 per cent premium over the A$53.7 million original purchase price and a 10 per cent premium over an independent valuation of A$70 million. Read more>>
China Rental Housing Market Could Grow 138% in 2018
The nation will have a rental housing market of 5.4 billion square meters with annual rental income of some 4 trillion yuan ($611.7 billion) by 2027, according to a new research note on the rental housing market.
The report, released by Shanghai-based CRIC China, the real estate services provider, said that some 190 million migrant residents or 80 percent of nationwide migrants in urban areas will be housed in rental projects. The 4-trillion-yuan annual rental income would be 138 percent higher than that of 2017. Read more>>
Fosun’s Folli Follie Plans 50 New Mainland Stores
Greek jewelry- and timepiece-maker Folli Follie plans to open 50 new stores in China next year, showing a renewed faith in a market in which its presence has shrunk in recent years.
Twenty of the locations will be directly operated by the company, five to seven of which will become its flagship stores in major Chinese cities, including Beijing, Shanghai and Shenzhen, Folli Follie China Director Connie Law told Caixin. Read more>>
Hang Lung Putts Around in Hope of HK Retail Profits
Hong Kong’s mall operators are going out of their way – from assisting start-ups in effectively executing their plans to offering them vast amounts of space – to accommodate and cultivate tenants that offer experiential consumption opportunities amid changing consumer tastes.
According to Katherine Lo, general manager of leasing and management at Hang Lung Properties, customers nowadays are looking for new and varied experiences when they go shopping. 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.
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