In today’s roundup of regional news headlines, the Canada Pension Plan Investment Board reports a positive quarterly investment return, though values of private assets under management “remained relatively flat”.
Canada’s national pension fund earned a 1.9 percent net return in its fiscal third quarter and ended the period with net assets of C$536 billion (now $398.5 billion), an increase of C$7 billion from the previous quarter.
The Canada Pension Plan Investment Board said the increase in net assets for the three months ended 31 December consisted of C$10 billion in net income less C$3 billion in net outflows. Read more>>
Singapore-listed Wing Tai Holdings has reported earnings for its fiscal first half of S$63.3 million (now $47.6 million), up 18 percent year-on-year.
This is mainly due to higher share profits from the developer’s joint venture companies, as well as a write-back of deferred tax provisions that is no longer required. Read more>>
Lakeside Tower, a 99-year leasehold condominium in Singapore’s District 22, has launched its collective sale tender at a reserve price of S$350 million ($263.4 million).
The development is on a 153,180 square foot (14,231 square metre) site, and the unit land rate is about S$1,244 per square foot per plot ratio. This is after factoring in an estimated lease top-up premium with no land betterment charge. Read more>>
Resale prices of Singapore’s Housing and Development Board flats rose again in January, gaining an average of 1.4 percent compared with December, according to flash figures released by SRX and 99.co on Thursday.
This is a steeper incline than the past few months. There was a 0.2 percent increase in December, 0.6 percent in November and 0.5 percent in October. Read more>>
A flagship $3.4 billion plan by Hong Kong to build temporary housing to ease a massive shortage is facing fierce criticism over its high cost and the absence of a longer-term solution in one of the world’s most unaffordable property markets.
The global financial hub has long struggled with sky-high house prices, which have rocketed by 350 percent in the past two decades and created one of the widest wealth gaps in the world, making accommodation a serious social problem that Beijing is keen to see the city’s leaders tackle. Read more>>
Singapore-based co-living operator Hmlet has launched its maiden hotel property, Owen House by Hmlet, a 106-room hotel at 2 Owen Road in Farrer Park.
This is the first hospitality property by Hmlet, and it will be managed under its own brand name and management team. Read more>>
Co-working major WeWork India has started a new centre in Pune with 1,500 desks and 96,000 square feet (8,919 square metres) of area amid rising demand for flexible office space from corporates.
The new facility is located at Raheja Woods IT Tower developed by K Raheja Corp. Read more>>
Federal agents have dismantled an alleged Chinese-Australian money-laundering organisation that moved an estimated A$10 billion ($6.9 billion) offshore while amassing a blue-chip property portfolio comprising Sydney mansions, a luxury city building and hundreds of acres of land near Sydney’s second airport.
On Wednesday, Australian Federal Police officers seized properties and luxury assets worth at least A$150 million and arrested and charged nine suspects, including two alleged Chinese-Australian gangsters in Sydney with a combined personal fortune estimated at more than A$1 billion. Read more>>