Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

Site on Hong Kong’s Peak Draws 5 Bids and More Asia Real Estate Headlines

2021/02/08 by Pimfha Chandhapradit Leave a Comment

In today’s roundup of regional news headlines, a pricey piece of Hong Kong land picks up five bids at a government tender, luxury brand Prada plans to exit one of its largest Shanghai storefronts, and Singapore’s Keppel Corp assumes full management control of a condo venture in Ho Chi Minh City.

Altus Cashflow Ebook

Site on Hong Kong’s Peak Draws 5 Bids

The five bids for a rare plot of land in Hong Kong’s upmarket The Peak district were in line with expectations and hinted at optimism about the city’s luxury residential market, analysts said.

The government tender for the plot at 9 and 11 Mansfield Road closed on Friday and could fetch up to HK$7.5 billion ($970 million). The land is next to 2,4,6 and 8 Mansfield Road, where some of Hong Kong’s civil servants were previously housed. Read more>>

Prada to Close Shanghai Plaza 66 Store

Italian luxury brand Prada has announced it will not renew the lease on one of its largest Shanghai storefronts, located in the city’s Plaza 66 mall. The store will close for business this week.

The high-profile location, on major shopping strip Nanjing West Road, is considered one of Shanghai’s premier luxury malls. Owner Hang Lung Group recently reported that Plaza 66 saw retail sales rise by 60 percent in 2020 versus a year earlier, with a concurrent 34 percent climb in rental revenue for the same period. Read more>>

Keppel Corp Acquires Remaining 25% Stake in VN Project for $31.7M

Keppel Corporation announced that Elaenia, a wholly-owned subsidiary of Keppel Land, acquired the remaining 25 percent of the charter capital of Riviera Point for a consideration of VND 535 billion ($31.7 million) on 4 February.

Following the acquisition, Keppel Land has full management control of the condo venture in Ho Chi Minh City. The latter is now an indirect wholly-owned subsidiary of the company. Read more>>

Malaysia’s EPF Plans to Sell Assets Worth Up to $111M

The Employees Provident Fund “has identified at least seven assets” with a total estimated value of MYR 350 million-450 million ($86.1 million-$111 million) to be put up for sale, sources told Edge Malaysia.

The weekly reported that “at least three of the assets are office buildings the provident fund is currently occupying”, including two office buildings in Kuala Lumpur and one in Petaling Jaya, Selangor. Read more>>

Value-Add Forum

Hong Kong’s Developers Score Biggest Home Sales Weekend of 2021

Hong Kong’s homebuyers returned to the market, snapping up 83 percent of the 460 new flats put on sale at two locations in the city’s biggest property sales weekend this year.

Subway operator MTR and its real estate partner Nan Fung Group sold 142 of the 179 flats on offer at the third batch of their LP10 project at Lohas Park in Tseung Kwan O, scoring a hat trick over three successful weekends of sales. Read mores>>

DLF to Sell Goa Hotel Plot in Bid to Divest Non-Core Assets

DLF Ltd, India’s largest real estate developer, is selling a piece of land in Goa for around INR 250 crore ($34.3 million) as part of its strategy to divest non-core assets and raise funds to pare debt.

“The existing land parcel is among the last in our list of non-core assets. We are looking forward to new launches in the state as per our business plan,” a company spokesperson said. DLF did not disclose the name of the buyer. Read more>>

CFLD Crisis Shows China’s Real Estate Risks

The latest Chinese real estate company to run into serious trouble is a lesson in the risks attached to Chinese property: they are neither predictable, nor limited to the sector alone.

This week, China Fortune Land Development said it had overdue debt repayments worth RMB 5.26 billion ($814 million). It blamed the macroeconomic and credit environment. Read more>>

Brookfield India REIT IPO Subscribed 8 Times on Final Day

The initial public offering of Brookfield India REIT was subscribed almost 8 times on the final day on Friday with good response across institutional and retail categories.

The real estate investment trust of Canadian investor Brookfield Asset Management saw 4.80 times subscription in the institutional category and 11.78 times in the retail segment. Overall, the units were subscribed 8 times. Read more>>

Frasers Property Reports Lower RevPAR for Hospitality Portfolio

Real estate developer and manager Frasers Property reported lower revenue per average room for the first quarter across its hospitality properties globally.

Hotel operating performance across Asia-Pacific, Europe and the UK in November 2020 was “significantly below pre-COVID levels”, it said. Read more>>

Office Investment

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.

Related Stories

  • Malaysia’s EPF Buys Mall in Poland for $352M and More Asia Real Estate HeadlinesMalaysia’s EPF Buys Mall in Poland for $352M and More Asia Real Estate Headlines
  • Korea’s Hana Buys N Carolina Office Building for $201M and More Asia Real Estate HeadlinesKorea’s Hana Buys N Carolina Office Building for $201M and More Asia Real Estate Headlines
  • SG’s First REIT Falls 35% After Default Warning and More Asia Real Estate HeadlinesSG’s First REIT Falls 35% After Default Warning and More Asia Real Estate Headlines
  • Wharf Wins Parcel at Hong Kong’s Peak With Record-Breaking $1.6B BidWharf Wins Parcel at Hong Kong’s Peak With Record-Breaking $1.6B Bid

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Brookfield Property Partners, CFLD, DLF, EPF, Frasers Property, Keppel Corporation, Mansfield Road, Prada, weekly-sp

Sustainability Forum

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Altus Cashflow Ebook

Get Mingtiandi Delivered

Logistics Forum

MTD TV

MTD TV data centre panel

Blackstone, Actis Predict Continued Growth for APAC Data Centres on MTD TV

Data Centre Operators Tackle APAC Expansion Challenges in MTD TV Panel

More MTD TV Videos

Latest Stories

goodwin gaw

Gaw Capital Said Planning US SPAC and More Asia Real Estate Headlines

quayside hong kong

IWG Opens in the Quayside in Third Takeover of Hong Kong WeWork Location

JLL Alex Barnes

Hong Kong Office Vacancy Hits 9.3% as Deutsche Bank, AIA Surrender Space

Sponsored Features

Tony Horrell

Colliers’ Global Investor Sentiment Report Anticipates Up to 50% Surge in Investment in 2021 Sponsored Feature

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

Link REIT Buying Half-Stake in Vanke Shanghai Mall for $429MLink REIT Buying Half-Stake in Vanke Shanghai Mall for $429M

Hines Ramps Up APAC Presence With New Hires in Japan, South KoreaHines Ramps Up APAC Presence With New Hires in Japan, South Korea

IWG Opens in the Quayside in Third Takeover of Hong Kong WeWork LocationIWG Opens in the Quayside in Third Takeover of Hong Kong WeWork Location


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team