Asian cross-border capital flows are at the top of the news again today, as Hong Kong-based CLSA is moving into Europe by partnering with a London-based asset management player. Singapore’s acquisitive sovereign wealth fund is making a slightly shorter trip to invest in Indian fulfillment centres, and HNA keeps itself in the news, and hopefully in the black, with plans for a European listing of airline catering subsidiary Gategroup. Read on for all these stories and more.
Avignon Capital, the London-based European property investment and asset management business, has formed a strategic partnership with CLSA, Asia’s leading capital markets and investment group and the international platform of China’s largest investment bank CITIC Securities.
The partnership will create an expanded European real estate investment management platform with Avignon Capital acting as CLSA’s partner for European commercial real estate investment. Read more>>
Singapore sovereign wealth manager GIC is set to join the foreign investor rush into India’s industrial logistics and warehousing industry. GIC, formerly Government of Singapore Investment Corporation, is floating a joint venture with the Mumbai-headquartered developer K Raheja Corp to build and acquire warehousing parks in Asia’s third-largest economy, people directly aware of the matter said.
GIC and Raheja have signed preliminary agreements to build and acquire warehousing facilities. “They are looking at a combination of land parcels for greenfield developments and existing facilities (which can be upgraded) through acquisitions,” said a person advising on the matter. The joint venture could invest about $300 million in the initial phase of platform creation. Read more>>
Chinese conglomerate HNA Group is seeking a public listing for airline caterer Gategroup, the Swiss company said on Tuesday, raising funds to help tackle HNA’s liquidity crunch.
Reuters reported in November that HNA, which bought Gategroup in 2016, was considering an initial public offering (IPO). The move is the latest in the aviation-to-financial services conglomerate’s drive to restructure its operations, while raising cash by selling equity and real estate assets. Read more>>
The slew of recent collective sales of private apartments continues unabated with the latest addition of Katong Omega Apartments, up for sale en bloc with an indicative price of S$41 million.
Strata board approval is not needed for the sale as all 18 owners of the freehold District 15 residence at 357, East Coast Road, have signed on, marketing agent Teakhwa Real Estate said in a statement on Wednesday (March 7). Read more>>
A controversial property tax appears unlikely to materialise in China this year, delivering temporary relief to households and real estate owners with an estimated US$44 trillion of their wealth invested.
The Chinese legislature’s budgetary unit is “studying the key issues of the property tax, and soliciting internal opinion, before submitting the draft for initial review,” said Zhang Yesui, spokesman of the National People’s Congress, at a press conference in the Chinese capital before the start of the parliamentary meeting. Read more>>
IWG, the world’s largest serviced office provider, has announced a positive outlook for 2018, despite issuing a profit warning last year.
The company, which operates brands including Regus, has forecast a “tipping point” for the flexible office sector in 2018, in which it becomes “the norm for progressive businesses worldwide as they seek flexibility, employee satisfaction and cost efficiency.” On the back of the improved forecast, IWG upped its dividend by 12%. Read more>>