In today’s roundup of regional news headlines, BAM Digital Realty gets to work on its first data centre in India, a project site on Hong Kong’s Lantau Island attracts bids from local heavyweights, and global banks seek to jump-start Chinese developer bond sales.
BAM Digital Realty Breaks Ground on 100MW Chennai Data Centre
Data centre firm BAM Digital Realty has broken ground on its first facility in India.
The company, a joint venture between Brookfield Infrastructure and Digital Realty, announced this week that construction of a data centre at Chennai’s Ambattur Industrial Estate is underway and on track to open later this year. The first building will offer 20 megawatts of capacity at the 10 acre (4 hectare) campus, which will provide 100MW at full build-out. Read more>>
MTR Corp’s Oyster Bay Site in North Lantau Draws 3 Bids
MTR Corporation’s tender for an estimated HK$5.21 billion ($669 million) project in the north of Hong Kong’s Lantau Island has received three bids, including submissions by the city’s biggest property developers such as CK Asset and Wheelock Properties.
“In view of the huge amount of investment, the participating bidders are mainly large-scale developers and consortiums,” Midland Surveyors said Wednesday. “The number of bids and the response are also in line with market expectations.” Read more>>
Global Banks Seek to End Drought in China Property Debt Sales
Global investment banks including JPMorgan Chase and UBS Group are renewing efforts to gauge investor interest in Chinese developer bond sales, in hopes of revitalising a key business after a year-long deal drought.
Hong Kong-based debt capital market bankers have been approaching the investors, encouraged by the recent return to the primary market by major conglomerate Dalian Wanda’s property arm after a 16-month absence, according to people familiar with the matter. Read more>>
Keppel Land Unit Exits Vietnam Project in $5.5M Deal
Keppel Corporation said Wednesday that a unit of Keppel Land is selling its 100 percent stake in Willowville for $5.5 million.
Willowville has a 60 percent stake in a project company that holds the rights to develop a site in Ho Chi Minh City. Oasis Asia Real Estate Investment, the purchaser, will make the payment to Keppel Land Vietnam Properties, a wholly owned subsidiary, in two tranches. Read more>>
Sutton Place to Be Relaunched for Sale at Unchanged S$285M
Sutton Place, a freehold residential development at 24, 26 and 28 Farrer Road in Singapore’s prime District 10, was relaunched for collective sale on Thursday. Its guide price remains S$285 million ($215.6 million) after the last attempt closed last September without a deal.
This is the third time Sutton Place is going on the market, with its first attempt in 2018 at a reserve price of S$268 million. Read more>>
Oxley Holdings’ Kuala Lumpur Project Achieves 60% Pre-Sales
Singapore-listed developer Oxley Holdings has announced pre-sales of 60 percent for its Kuala Lumpur project, Jewel by Oxley KLCC. This has totalled S$93 million ($70.4 million) in pre-sales for the developer.
Jewel by Oxley KLCC is the 267-unit serviced residence component of the mixed-use Oxley Towers KLCC. The entire project comprises a five-star hotel, an office tower and the serviced residence. Read more>>
Thailand’s AIS Weighs Options for $3B in Tower Assets
Advanced Info Service, Thailand’s biggest telecom group, is considering options for its tower business including a stake sale, according to people familiar with the matter.
The SET-listed company has held talks with potential advisers for a strategic review of the assets, the sources said, asking not to be identified discussing private matters. Read more>>
How a Big Short Cost India’s Adani Empire $100B
An hour past sunrise in India 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>>
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