Singapore’s CapitaLand dominates the region’s real estate headlines today with news of its acquisition of a site in Guangzhou, being released on the same day that the developer confirmed a joint venture with GIC for an acquisition in Shanghai. Elsewhere around the region, Indiabulls Real Estate has bought a new site near Delhi and China’s Country Garden says it is on the lookout for projects and partners in the Philippines. Read on for all these stories and more.
CapitaLand has won a prime mixed-use, 4.7 hectare site in Guangzhou, China, for RMB 882 million (about $127 million). The property developer holds a 75 per cent stake in the development, with the remainder held by an unrelated third party.
The greenfield site in Huangpu District is located within Guangzhou Science City, a government-backed innovation and technology hub. Read more>>
Indiabulls Real Estate says it has agreed to acquire a 140 acre site in Gurugram’s Manesar area, to develop an integrated township and commercial building.
In a filing to the BSE, the Mumbai-based developer said that its wholly-owned subsidiary Loon Land Development Ltd has “entered into definitive agreement(s) to acquire a land parcel/development rights on approx 140 acre land, situated at Sector 79, Manesar, Gurugram,” for the project. Read more>>
Country Garden Group, one of China’s biggest property developers, has expressed interest to explore investment opportunities in the Philippines.
Country Garden general manager Wang Xingjun conveyed the group’s intention to team up with Filipino property developers to expand the Country Garden and Rise Land brands in the country. Read more>>
Thailand’s new ultra-luxurious Iconsiam shopping complex opened its doors last Saturday, shrugging off a decline in tourist arrivals and political uncertainty ahead of next year’s general election.
“I wanted to build something that would tell the million stories of ‘Thai-ness’,” says Chadatip Chutrakul, chief executive of Siam Piwat, the firm behind Iconsiam, a 500,000 square metre complex that sits on the banks of Bangkok’s Chao Praya River. Read more>>
Private equity-owned Columbia Real Estate is offering three restored adjoining conservation shophouses for sale.
The three shophouses are freehold properties located at 8, 10 and 12 Aliwal Street. They have been zoned “commercial” and have been approved for use as a boarding house with a hotel license. Read more>>
After years of booming growth, China’s real estate sector, a major pillar of the world’s second-largest economy, is wobbling.
The fundamentals of China’s real estate market will face “a year of recession” in 2019, China International Capital Corp. (CICC) said Monday in a research report. Sales, investments and new construction starts will decline significantly next year, according to researchers at the largest state-backed investment bank in China. In response, the government should alter policies that were put in place to cool the market, the researchers said. Read more>>