CapitaLand CEO Lee Chee Koon is ready to get his hands on some euro cash
While a strong coffee might be in order after the return to work this morning, today’s real estate headlines are as lively as ever, with news of CapitaLand’s S$5 billion ($3.67 billion) note launch leading the way. The hospitality sector is high on the agenda with a $416 million acquisition of a European holiday rental platform agreed, and a WeWork rival pitches in on the hot topic of co-working profitability.
In other news around the region, mainland China house prices continue their upward climb and Goodwin Gaw’s firm closes in on an Aussie deal, while China’s “charming towns” dream turns into a nightmare.
CapitaLand Starts S$5B Euro Medium Term Note Programme
CapitaLand has established a S$5 billion ($3.67 billion) euro medium term note programme, with its CapitaLand Treasury planning to issue euro medium term notes and perpetual notes from time to time, the real estate player announced on Tuesday.
Subject to compliance with the relevant laws, the notes may be issued in any currency as agreed by the issuer, CapitaLand Treasury, the guarantor, CapitaLand, and the relevant dealers. Read more>>
India’s OYO Hotels to Buy European Holiday Rental Platform for $416M
India-based OYO Hotels and Homes, the world’s sixth-largest chain of hotels, homes, and living spaces, on Wednesday said it has agreed to acquire Amsterdam-based @Leisure Group, a vacation rental company in Europe, which manages holiday homes, holiday parks, and holiday apartments for an undisclosed amount.
OYO will acquire @Leisure from Axel Springer, a media and technology company, for nearly €369 million or $416 million, according to a person close to the transaction, who did not wish to be identified. Read more>>
We Are Profitable: Singapore’s JustCo Says It’s Not WeWork
The global co-working race for dominance has hit Australian shores, with Singapore-based operator JustCo opening the first of what it says will be as many as six locations in this country by year’s end.
Privately owned JustCo this week formally opened its 4,200 square metre space at Sydney’s 175 Pitt Street, as part of a push that founder Wan Sing Kong said will take the operator from 40 to 100 outlets in locations including Indonesia, China, South Korea, Taiwan and Thailand in the next 12 months. Read more>>
Mainland Home Sales Top $115B in April
Mainland developers reported April sales topping $115 billion, surging nearly 17 per cent on year and extending upbeat momentum from March, even as new curbs to cool the housing market were imposed in some cities.
Combined contracted sales by the largest 100 Chinese developers totalled 779.8 billion yuan ($115.8 billion) for the month, 5.8 per cent lower than March, according to property consultancy China Real Estate Information Corp (CRIC). Read more>>
Sex Park Promoters Arrested After China “Charming Towns” Dream Goes Bad
China’s “thousand charming towns” initiative was supposed to dot the vast countryside with beautiful, liveable and themed villages, carrying names as eclectic and zany as Crayfish Town, Asian Games Town, Poetry Town, Fairyland Town, and Happy Town, which would come complete with a “sex park”.
But last week’s collapse of a private company behind many of these developments has seen dozens of senior executives detained by police and thousands of investors scrambling for answers, desperate to recoup their money. Read more>>
Aussie Retirement Home Operator Cautions on Reports of Gaw Deal
Retirement village owner and operator Aveo has hosed down speculation it is readying to announce an all of company transaction, saying there was no certainty of a deal.
Aveo’s shares soared 10 per cent to $2.13 amid growing speculation the group was being stalked by Hong Kong real estate group Gaw Capital Partners and another unnamed bidder. 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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