Cross-border acquisitions lead the news again today as another mainland group picks up a Brexit bargain in London, and a Singaporean developer goes shopping on Tokyo’s Ginza. Back on the mainland more credit is available for rental housing projects and the world’s second-tallest building might not still be Shanghai’s emptiest cylinder. Read on for all these stories and more.
Lloyds Banking Group said it has sold its London headquarters to a Chinese property investment company for an undisclosed price.
Under the terms of the sale to Hengli Investments Holding, Lloyds will lease back the 25 Gresham Street building, which it has occupied since its construction, for the next 20 years. The building sits in the heart of the City of London’s financial district. Read more>>
Upmarket Singapore-based property group SC Global Developments has acquired a 12-storey prime commercial development in Tokyo’s Ginza district.
GINZA 12, completed recently, is a 7,785 sq ft property located a stone’s throw from the Higashi Ginza Metro Station at the intersection of two major streets, Showa Dori and Harumi Dori. Read more>>
The Housing and Development Board (HDB) has launched a residential site for executive condominium development in Sumang Walk for sale by public tender on Tuesday (Dec 12), under the second half 2017 Government Land Sales (GLS) Programme.
The tender for the land parcel – which has a 99-year lease period – will close at noon on Jan 30, 2018. Read more>>
China’s push to develop the rental housing sector is offering cash-strapped property developers a way back to the onshore bond market after more than a year of issuance restrictions aimed at cooling down property prices.
Longfor Chongqing Enterprise Development, a domestic subsidiary of Hong Kong-listed Longfor Properties, last week filed a plan with the Shanghai Stock Exchange to issue special rental housing bonds, with proceeds exclusively pledged to rental projects. Read more>>
Co-working space is all the rage in Beijing. Not only is the prime Guomao area around the China World Hotel packed with these spaces offered by UrWork, Cowork and Soho 3Q, but the growing business of workplace sharing is also drawing the interest of hotel operators.
When Hotel Jen Beijing, owned by Shangri-La Hotels and Resorts, opened in May, it also launched Prototype, a floor that provides serviced offices to start-ups and freelancers. Read more>>
After more than two years of red tape that kept tenants from moving in, China’s tallest skyscraper, the Shanghai Tower, has been quietly opening and filling office space.
More than 60 companies now occupy office space on its 128 floors – including some big names in China finance, such as Ant Financial, controlled by Alibaba Group Holding Ltd.’s billionaire founder Jack Ma. Read more>>