Real estate services leads Mingtiandi’s roundup of headlines from around the region today as agency giant CBRE announces plans to hire 3,000 new staff in India this year, after revenues grew 20 percent last year. In line with the real estate as a service theme, WeWork has opened its first Vietnam co-working centre in an HCMC neighbourhood where Mingtiandi once feared to venture after dark, and Indian developer Brigade Group says it is planning its own shared office division. All the details on these and other stories from around the region await you below.
Global property consultant CBRE will hire 3,000 employees across India this year for business expansion, its country head Anshuman Magazine said.
CBRE’s India revenue grew 20 per cent during 2018 and expects to maintain its growth even in 2019, he said, but did not disclose the turnover figure. Read more>>
China Ping An Insurance Overseas (Holdings) Limited, a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (Ping An), has announced a US$150 million equity investment in GDS Holdings Limited, a leading developer and operator of high-performance data centers in China.
The investment will be in the form of convertible preferred shares. GDS will use the proceeds from the investment to fund expansion of its data centre capacity and for general corporate purposes. Read more>>
A group of construction workers are suing Hong Kong-listed Imperial Pacific and two other Chinese firms alleging they were victims of a human trafficking and forced labour scheme.
The lawsuit’s seven plaintiffs are seeking punitive damages to recoup high recruitment fees and and medical costs from injuries suffered on the job including severe burns and a partially severed finger. Read more>>
The first WeWork co-working space in Viet Nam opened on Wednesday in HCM City with 5,000 sqm of space. Situated in E Town Centre, District 4, the office can accommodate 1,000 customers in four floors ranging from freelancers to bigger enterprises.
“With Viet Nam’s rapid economic growth, we see immense business potential,” Turochas T Faud, managing director of WeWork Southeast Asia, said. Read more>>
Singapore based co-living company, Hmlet has announced a strategic partnership with BS Shenton Pte Ltd to lease the top ten floors of luxury condo Lumiere, expanding the co-living platform’s offering of units in the CBD District.
Launching on Monday, 18 March, prospective members can already visit the site and choose from one or two-bedroom luxury apartments and with a community at the heart of Hmlet, a communal rooftop space will be available exclusively for Hmlet members to come together and build vibrant relationships with one another. Read more>>
Real estate firm Brigade Group is entering the co-working business through the brand BuzzWorks, under which it plans to roll out 2,200 seats in the next two years.
BuzzWorks will initially launch more than 200 seats at Whitefield and Rajajinagar at the Brigade Metropolis and Brigade Gateway campuses totalling 15,000 square feet. Later, the firm plans to offer co-working spaces in locations such as Kochi, Ahmedabad, Chennai and Hyderabad as well. Read more>>
China will give local governments autonomy to decide on the actual rate of a property tax to minimize its potential impact on housing prices, a senior Chinese lawmaker was quoted by state media as saying on Thursday.
Work on a draft property tax in China is “steadily advancing”, senior Chinese parliamentary officials said last week during the country’s annual parliament meeting. Read more>>