In today’s roundup of regional news headlines, Singapore’s GIC enlists high-powered help for the potential sale of its Australian retirement village business, an ESR fund snaps up eight logistics properties Down Under, and Chinese data centre operator GDS weighs an SGX listing.
Singapore sovereign wealth fund GIC is understood to have hired Goldman Sachs to test market interest for its Australian lifestyle communities business Serenitas.
The company is thought to be worth between A$800 million and A$1 billion ($540 million and $950 million), and the understanding is that the US investment bank has been sounding out buyers for a potential sale by GIC, though a formal sale process is not underway. Read more>>
Hong Kong-listed warehouse giant ESR has again expanded its Australian logistics empire with a series of purchases across the country, in a sign that warehouses are still running hot.
The ESR Australia Logistics Platform II has made A$158.6 million ($107 million) worth of purchases, snapping up eight logistics properties in Melbourne, Brisbane and Perth, by buying two separate portfolios. Read more>>
Data centre operator GDS Holding is weighing a secondary listing in Singapore in addition to US and Hong Kong, according to people familiar with the matter.
The Shanghai-based firm has held initial talks with potential advisors on a plan to list its shares on the Singapore Exchange, said the people, who asked not to be identified discussing private information. It hasn’t decided whether it will raise any capital through the listing, the people said. Read more>>
Horizon Towers, situated on a 1.9 hectare (4.7 acre) site with a 99-year lease in Singapore’s prime District 9, is on the market again at a reserve price of S$1.1 billion ($780 million).
Inclusive of an estimated S$277 million lease top-up premium, the unit land rate for the collective sale works out to S$2,049 per square foot per plot ratio for the 204,742 square foot (19,021 square metre) site, according to sole marketing agent JLL. Factoring in the 10 percent bonus gross floor area due to a high development baseline, the unit land rate is S$1,862 per square foot per plot ratio. Read more>>
Commercial building Sultan Plaza in Singapore’s Muslim Quarter will be relaunched yet again on Friday, after its earlier two attempts failed to attract a suitable buyer, exclusive marketing agent Teakhwa Real Estate said Thursday.
The process to lower the reserve price to S$325 million ($231.5 million), from its earlier S$360 million, is still ongoing. Currently, only 72 percent of the owners by share value have signed on to the supplemental agreement to lower the reserve price. Read more>>
Almost 75 percent of Sky Eden@Bedok’s 158 residential units were sold at an average price of S$2,100 ($1,496) per square foot on the first day of the property’s launch on Wednesday.
Pricing for the project in Singapore’s District 16 was earlier estimated by developer Frasers Property to start from S$1,937 per square foot. Read more>>
Chip Eng Seng said Wednesday that Celine Tang, the developer’s non-executive chairman and non-independent and non-executive director, is considering a possible transaction involving the group’s shares.
However, there is no certainty that any possible transaction will materialise at this junction, Chip Eng Seng noted in a bourse filing. Read more>>
The Chinese city of Zhengzhou vowed to start building all stalled housing projects within 30 days by making good use of special loans, asking developers to return misappropriated funds and encouraging some real estate firms to file for bankruptcy, said three sources with knowledge of the matter.
“The goal is to achieve sustained construction on all suspended property projects in Zhengzhou by 6 October,” said a government notice dated Tuesday. Read more>>