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
    • Mingtiandi 2022 Event Calendar
    • APAC Residential Forum 2022
    • Asia Logistics Forum 2022
    • Asian Capital in Australia Forum 2022
    • Asia REIT Forum 2022
    • APAC Data Centre Forum 2022
    • Singapore Focus Forum 2022
    • Office Strategies Forum 2022
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Blackstone Plans $599M India Office REIT IPO and More Asia Real Estate Headlines

2020/07/18 by Michael Cole 1 Comment

Mindspace-Madhapu

K Raheja’s Mindspace at Madhapur in Hyderabad

Following the success of India’s first REIT last year, Blackstone is headed back to the subcontinent’s public markets again, as the US private equity giant and local partner K Rajeha get ready to raise $599 million for an office park IPO.

Also in the news today, Singapore’s retail struggles are likely to drive down mall and high street rents in the second half of this year, according to a recent agency report, and China Vanke gets an unwelcome turn in the spotlight as China’s annual consumer protection day targets quality complaints at the top three mainland developer.

Blackstone, K Rajeha Ready $599M IPO for Mindspace REIT

Mindspace Business Parks REIT, an Indian operator of office complexes backed by Blackstone Group, plans to raise as much as Rs 4,500 crore ($599 million) in an initial public offering and use the proceeds to pay debt.

The real estate investment trust, which also counts K Raheja Corp, a Mumbai-based real estate developer, as a sponsor, will offer about Rs 1,000 crore of new shares while the founders will offer the remaining, according to a draft prospectus filed with India’s securities regulator. Read more>>

Singapore Mall Rents Expected to Slide as Retailers Close Shops

Rents for retail space in Singapore are expected to fall more sharply in this half of the year amid mounting vacancies stemming from the pandemic, according to a report yesterday.

It noted that while most retail businesses resumed operations from June 19 after the two-month circuit breaker, social distancing measures mean many activity-based tenants, such as those in food and beverage (F&B) and health and wellness, are unable to operate at full capacity. Read more>>

Wing Tai Selling Kuala Lumpur Project to Paramount for RM 243.8M

Paramount Corp Bhd is acquiring 4.54 acres of prime freehold land with buildings at Jalan Ampang Hilir, Kuala Lumpur for RM 243.8 million ($57 million), cash, in the vicinity of the popularly known ‘Embassy Row’.

It is acquiring the property, which has a 20-storey building with service suites and 132 units of low-rise condominiums situated on it, from the subsidiaries of Singapore-listed Wing Tai Holdings Ltd. Read more>>

Vanke Quality Problems Targetted in China Consumer Protection Show

China Vanke, the third largest home builder in the mainland by sales, issued an apology after it came in for heavy criticism for the poor quality of its homes on an annual consumer rights television show.

Serious water leakage from the ceiling was first noticed in 146 out of 201 units in Vanke’s Hillview Park residential project in Guangzhou in November 2018, according to the state-run China Central Television’s (CCTV) popular consumer rights show, which aired on Thursday night. Read more>>

Sun Hung Kai Markets New Hong Kong Project at Premium Prices

Sun Hung Kai Properties, Hong Kong’s biggest developer by market cap, has priced its latest project in Tuen Mun nearly 40 per cent higher than new launches in the New Territories, paying no heed to the third wave of coronavirus outbreak currently sweeping the city.

The developer has priced the first batch of 88 flats at its Regency Bay residential development at HK$17,377 (US$2,241) per square foot after discount, the highest among new projects launched in the district recently. Prices start at HK$4.68 million after discounts for a flat measuring 261 sq ft. SHKP has yet to announce the sales launch date of the flats. Read more>>

China Home Prices Rise 4.9% as Bubble Fears Rebound

Even the coronavirus hasn’t stopped the world’s biggest asset bubble from getting bigger.

After a brief pause during coronavirus lockdowns in February, a Chinese property boom in some megacities that many thought was unsustainable has resumed its relentless upward climb, with prices rising higher and investors chasing deals despite millions of job losses and other economic problems.

In March, 288 apartments in a new Shenzhen property development sold out online in less than eight minutes. A few days later, buyers snapped up more than 400 units in a new housing complex in Suzhou. In Shanghai, apartment resales neared a record high in April, by one estimate. One Saturday last month, nearly 9,000 people each put down a deposit of one million yuan ($141,300) to qualify to buy apartments in a Shenzhen development. Read more>>

Logistics forum 2022 Web banner

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

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Blackstone, China Vanke, India IPO, MIndspace Business Parks, Sun Hung Kai Properties, Wing Tai Group

https://player.vimeo.com/video/658500990?h=acd5304b2d

Comments

  1. Eran says

    2020/07/19 at 10:27 am

    Real estate have nosedived

Leave a Reply

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

Get Mingtiandi Delivered

MTD TV

mtd tv sustainable data centres

Efficiency, Design and Green Power Key to Data Centre Sustainability: MTD TV

Allianz, SC Capital, BW and JLL Talk Asia’s New Logistics Real Estate Reality: MTD TV

More MTD TV Videos

Latest Stories

kenny lam manulife

Link REIT Hiring Outgoing Manulife IM Exec Kenny Lam as Co-CIO

kuok khoon hua

China Resources Logistics Adds Fifth HK Industrial Asset in Two Years

Amelie-Delaunay

GLP Leads Real Estate Fund Managers in APAC, Bumps CapitaLand From Global Top 10

Sponsored Features

Rosanna Tang Colliers

Office Upgrades Jump After Omicron Slowed Hong Kong Market in Q1 Sponsored Feature

Bernie Devine

Is Your Building a Device? Sponsored Feature

Vietnam’s BW Acquires First Assets in Long An Province as Growth Continues Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2022 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

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


© 2007-2022 China Advertising Media Ltd (Samoa). All rights reserved.