Warehouses and land lending lead the way in Mingtiandi’s roundup of Asia real estate headlines today as shares a Hong Kong-listed logistics real estate platform rose in their first day of trading on Friday and the city’s third largest developer declares that it is making a charitable seven-year “loan” of 430,000 square feet of farmland to the Hong Kong government, as city authorities suddenly seek an urgent solution to a housing shortage that has been building for years.
In other news around the region, a Korean brokerage is spending $160 million on an Amazon logistics centre, while a Chicago-based investment management firm buy another storage facility in Korea, and Singapore’s Keppel turns keen on Indian co-working.
ESR Cayman, the operator of logistics warehouses and industrial real estate, was lucky the second time around in the capital market, as its shares advanced in their Hong Kong stock exchange trading debut.
ESR shares opened at HK$17.62, or 5 per cent above their initial public offering price of HK$16.80. That was the midpoint of its initial pricing range of HK$16.20 and HK$17.40 per share. Read more>>
Henderson Land Development, Hong Kong’s third-largest property company with a market capitalisation of HK$189.9 billion ($24.2 billion), will loan 430,000 square feet (39,948 square metres) of farmland to the city’s government for seven years for the development of 2,000 transitional housing units, according to a source familiar with the matter.
The donation of land in Yuen Long in the New Territories more than quadruples the company’s commitment of 100,000 square feet announced this month as Hong Kong steps up efforts to ease its housing crisis, and will amount to the largest such pledge by a private landowner. Read more>>
Samsung Securities Co. Ltd. has bought Amazon’s only logistics center in Czech Republic for KRW 186 billion ($160 million), in its fourth acquisition of the retail giant’s distribution centre in Europe in three years which amounted to KRW 770 billion, according to a local media report.
The South Korean brokerage firm has completed the purchase from US investment firm AEW, according to financial industry sources. Read more>>
United Overseas Bank (UOB) said it has provided its first green loans under its new real estate sustainable finance framework.
Lucrum Capital and Teambuild Engineering & Construction are the first to use the framework. Read more>>
The property arm of Singaporean conglomerate Keppel Corporation has invested $25m in a pan-India flexible workspace provider.
Keppel Land said it has invested the capital in Smartworks Coworking Space, a company which offers 43,000 workstations from its 23 operational centres in nine cities. Read more>>
Ascendas Real Estate Investment Trust’s distribution per unit rose by 2.3 percent to S$0.03978 ($0.029) from S$0.03887 a year ago, boosted by overseas acquisitions while taking into account an enlarged number of units in issue.
Gross revenue was up 5.3 per cent to S$229.6 million for the quarter, from $218.1 million a year ago. Read more>>
LaSalle Investment Management said that it has completed the acquisition of cold storage facility Logiport West Anseong in South Korea, with the value of the deal undisclosed.
LaSalle added the facility, located some 70 kilometres from Seoul in Anseong, Gyeonggi Province, is fully leased for tenants. Read more>>
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