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

Troubled Developer Forise Intl Discloses CEO Departure and More Asia Real Estate Headlines

2019/12/10 by James Hatton Leave a Comment

forise surfers paradise

Forise sold off its project in Surfer’s Paradise when it couldn’t pay its bills

A Singapore-listed mainland developer leads Mingtiandi’s roundup of real estate headlines today with the disclosure that its 31-year-old CEO had left the company four months ago after disclosing that it also seems to have lost its executive chairman.

In other news around the region, a Lion City-listed dormitory operator has acquired a student housing property in the Uk for $20 million, while a cattle farm owned by a Hangzhou-based company is said to be under offer.

Elsewhere, Tesco is said to be mulling the sale of its $9 billion Thailand and Malaysia businesses.

Mainland Developer Discloses Departure of CEO, Chairman

SGX-listed Forise International announced, apparently four months after his departure, that its chief executive officer (CEO) has resigned because he and the board could not agree on his remuneration.

The company, in a written response to the bourse operator Singapore Exchange on Dec 8, said that Ching Yeh quit his position as CEO shortly after his appointment on July 26 as the 31-year-old was not able to accept the remuneration package offered by the board. Forise earlier had disclosed that its executive chairman Wang Xin resigned from the position on Nov 29 “due to personal reasons”.

The development offshoot of Beijing-based Forise Holding earlier sold of an Australian project after failing to pay insurance premiums. Read more>>

Centurion Buys Student Digs in Nottingham for £15M

Dormitory operator Centurion Corporation is acquiring Archer House, a 177-bed student accommodation asset in Nottingham, UK, at a purchase consideration of 15.1 million pounds ($20 million).

Centurion’s second acquisition in Nottingham, this will bring the group’s UK portfolio to a total of over 2,850 beds across 11 purpose-built student accommodation (PBSA) assets in five cities. Read more>>

Zhejiang Rifa’s A$150M Aussie Cattle Farm Under Offer

An offshore player has swooped on Ashleigh Station in northern NSW, one of five properties put on the market as part of the Chinese-owned Rifa Salutary business.

It is understood the 4391-hectare property along the Gwydir Highway in an area known as the Northern Slopes is under offer from a foreign investor. Ashleigh comprises five contiguous holdings and is designed as a cattle finishing hub using winter and summer fodder crops. Read more>>

Tesco Shares Jump on Possible Sale of $9B Asian Business

Shares in Tesco rose more than 5 percent on Monday after Britain’s biggest retailer said it might sell its Asian businesses, in Thailand and Malaysia, which analysts valued at up to $9 billion.

Tesco said on Sunday it had begun a review of its Asian operations after receiving approaches for the businesses. Read more>>

Singapore Hotel Conversions on the Rise

Developers continue to jump on the hotel-conversion bandwagon, with Fragrance Group for its flagship office building in Alexandra Road and Lian Beng for Wilkie Edge among the latest to have received nods from URA.

The trend is being fuelled by the rise in hotel land values and a perceived shortage of hotel room supply on the island; this follows URA generally having disallowed, over a four-year period, development applications for new hotels, including change-of-use proposals, on sites that are not zoned for hotel use. Read more>>

Singapore Property Oversupply Could Take Years to Clear

Singapore has an oversupply of private homes that could take years to clear, threatening to kill a nascent price recovery amid an already uncertain economic outlook.

The city-state had an overhang of 31,948 units as of 30 September, according to the Urban Redevelopment Authority. Sales have averaged about 2,500 homes per quarter this year, and at that rate it will take almost four years to clear the backlog, according to Ms Christine Li, head of research for Singapore and South-east Asia at Cushman & Wakefield. Read more>>

Sustainability Forum

Only 54 Out of 80 Lucky Draw Applicants Show Up for Hong Kong Home Sale

The 4,871 flats from six Housing Authority estates in different districts was the largest number of homes put on the market since the authority restarted its Home Ownership Scheme (HOS) in 2011.

Eighty applicants – selected by lucky draw – were on Monday the first group of buyers for the newly available homes. But only 54 showed up, a turnout rate of 67.5 percent, and 53 bought a property. Read more>>

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

Related Stories

  • Yum Shutters 3,000 China KFC, Pizza Hut Shops and More Asia Real Estate HeadlinesYum Shutters 3,000 China KFC, Pizza Hut Shops and More Asia Real Estate Headlines
  • Mapletree Said Among Bidders for £4B UK Student Housing Group and More Asia Real Estate HeadlinesMapletree Said Among Bidders for £4B UK Student Housing Group and More Asia Real Estate Headlines
  • Student Housing Fund Backed by Singapore’s Metro Buys UK Asset for $41MStudent Housing Fund Backed by Singapore’s Metro Buys UK Asset for $41M
  • Blackstone India JV to Sell Business Park for $1.3B and More Asia Real Estate HeadlinesBlackstone India JV to Sell Business Park for $1.3B and More Asia Real Estate Headlines

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Forise International, Hong Kong retail, industrial property, Melbourne, Singapore Housing Market, Student Housing, Tesco, UK

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.

Get Mingtiandi Delivered

Sustainability Forum

MTD TV

MTD TV data centre panel

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

value-add forum 2021-03-30

Link REIT CEO George Hongchoy Says Sustainability Key to Boosting Returns

More MTD TV Videos

Latest Stories

Li Ka-shing

Li Ka-Shing Boosts CK Asset Buy-Back Scheme and More Asia Real Estate Headlines

Darren Searle Logos

KKR, Abu Dhabi Fund Back A$1B Logos Development Venture in Australia

Wang Jianlin Sun Hongbin Li Sze-Lim

Wanda Topped Mainland Commercial Developers Again in 2020 Despite 13% Income Drop

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

Data Centre Startup Princeton Digital Lands $230M in Financing as China…Data Centre Startup Princeton Digital Lands $230M in Financing as China Platform Grows

Sun Hung Kai & Co Launches $300M Debt Vehicle to Grow Fund…Sun Hung Kai & Co Launches $300M Debt Vehicle to Grow Fund Management Business

Hongkong Land Leases Exchange Square Floors to S&P Despite Central…Hongkong Land Leases Exchange Square Floors to S&P Despite Central Market Slide


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