ESR Oragadam Industrial & Logistics Park in Chennai
In today’s roundup of regional news headlines, logistics titan ESR acquires a Delhi industrial site from local property firm TARC, analysts predict a muted start to the Lunar New Year for Hong Kong’s housing market, and Chinese developer Dahua Group files plans for a residential project in Sydney.
ESR Acquires Delhi Area Industrial Site From India’s TARC
Logistics giant ESR has acquired 8 acres (3.2 hectares) of land in Delhi from real estate firm TARC to expand its operation in the city.
The in-city warehouse has a development potential of 400,000 square feet (37,161 square metres) and is located in Alipur, Delhi-NCR. “TARC wants to completely focus on the upper mid income and luxury homes segment and will cash out non core businesses,” said a person aware of the deal. Read more>>
Hong Kong Housing Likely to Start the Year of the Tiger With a Purr
The Year of the Tiger does not herald a roaring start for Hong Kong’s housing market, according to analysts.
The omicron strain of coronavirus currently plaguing the city and the spectre of interest rate increases are likely to dampen sentiment in the early stages of the Lunar New Year. Read more>>
Singapore Set to Lead SE Asia Property Recovery
Singapore’s property market is likely to emerge faster than its Southeast Asian peers from the slump induced by COVID-19 as the region races to vaccinate its population, according to analysts.
Vietnam is also expected to do better than most other major economies in the region. Read more>>
India Plans to Classify Data Centres as Infrastructure
The Indian government will classify data centres as infrastructure assets from 1 April.
The move will make it easier for the industry to raise funds, via investments or loans, by providing access to cheaper and long-term institutional funds. Read more>>
China’s Dahua Files Masterplan for $157M Sydney Project
Chinese real estate giant Dahua Group has lodged plans for a A$220 million ($157 million) residential masterplan at Waterloo in Sydney’s inner south.
The multi-faceted development will turn a vacant former industrial site into a cluster of residential buildings encircling a central plaza. Read more>>
Dashed Dreams for China Evergrande’s Showpiece Resort Island
The opening last year of the world’s largest artificial resort island, developed by China Evergrande Group for nearly $13 billion, was the realisation of the ambitions of founder Xu Jiayin, who sketched a design for the project himself.
Now Evergrande is in default to global bondholders, the former Communist Party secretary of the small Hainan island city where Ocean Flower Island was built is serving a life sentence for bribery, and officials in Danzhou city have ordered 39 of the project’s towers — roughly 3,900 of the island’s 65,000 homes — to be demolished over environmental and construction violations. Read more>>
Etix Everywhere Acquires Majority Stake in Thai Data Centre
European firm Etix Everywhere has acquired a majority stake in a Thai data centre.
The company this week announced that it had acquired a 67 percent interest in Genesis Data Center, which operates a facility in the Bang Chalong area of Bangkok, for A$15.2 million ($10.8 million). Read more>>
Starbucks’ Strong US Holiday Offset by Costs, China Slump
Starbucks had a strong holiday season in the US, but those results were offset by higher labour and commodity costs and weaker sales in China.
In response, Starbucks lowered its earnings outlook for fiscal 2022, which ends in September. The company sees earnings per share declining by 4 to 6 percent for the year, a wider range than the 4 percent decline it previously forecast. The coffee giant expects adjusted earnings growth of 8 to 10 percent, down from its previous view of at least 10 percent. Read more>>
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