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
    • Mingtiandi 2022 Event Calendar
    • APAC Residential Forum 2022
    • Asia Logistics Forum 2022
    • Asian Capital in Australia Forum 2022
    • Asia REIT Forum 2022
    • APAC Data Centre Forum 2022
    • Singapore Focus Forum 2022
    • Office Strategies Forum 2022
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Ikea Shuts Down China Shops Amid Virus Fears and More Asia Real Estate Headlines

2020/01/30 by James Hatton Leave a Comment

IKEA addicts will have to wait a while for their next furniture fix

Ready-to-assemble furniture leads the way in Mingtiandi’s roundup of Asia real estate headlines with the news that the world’s largest retailer of flat-packed tables and chairs has temporarily closed all of its stores in China amid the coronavirus outbreak.

In other news around the region, the world’s most unaffordable city will continue to see property sales rise by ten percent despite the Wuhan virus and political uncertainties, while a court in Singapore gives homebuyers some relief after a condo developer goes bust. In another bit of good news for the Lion City, Colliers is predicting that property deals in Singapore will increase by 6 percent this year.

Ikea Closes All Stores in China Amid Virus Contagion Fears

Ikea is shutting down all of its stores across China as the deadly Wuhan coronavirus outbreak escalates. The furniture store will “temporarily close” its dozens of brick-and-mortar stores in mainland China starting Thursday, a spokeswoman for Ikea China said in a statement.

“We will pay close attention to the epidemic situation, and the stores will be closed until further notice,” she said, adding that Ikea’s online shopping service will continue to operate.
Ikea has 30 stores across China, including one in Wuhan, the epicenter of the coronavirus outbreak, according to the company’s website. Read more>>

Dasin Retail Trust Cuts hours, Closes Karaoke Lounges at China Malls

Dasin Retail Trust has taken precautions in view of the coronavirus outbreak, including shortening the business hours at its five malls in China.

It has also temporarily closed crowded places in the malls, such as cinemas, karaoke lounges, ice skating rinks and bookstores. Read more>>

Colliers Expects Singapore Property Deals to Surpass S$31B in 2020

Singapore property investment sales could increase by six percent to S$31.3 billion ($23 billion) in 2020 from S$29.5 billion in 2019, real estate services firm Colliers International said in its latest report.

Investment sales volumes fell 12.7 percent last year “largely due to the pullback in the residential property sector as cooling measures continued to bite”, said Colliers. Read more>>

Suntec REIT Prices S$200M 7-Year Notes at 2.95%

Suntec Real Estate Investment Trust has launched S$200 million ($147 million) worth of new notes, to be issued under the $1.5 billion euro medium-term note programme. The notes are due in 2027 and will carry a coupon fixed at 2.95 per cent per annum, Suntec REIT said.

Net proceeds from the issue will be used by Suntec Reit and its subsidiaries to finance or refinance acquisitions and/or investments. They will also go into funding any asset enhancement works, refinancing existing borrowings and for general corporate purposes. Read more>>

Office forum 2022_250 ad

Agency Foresees 10% Jump in Hong Kong Property Sales

A rebound in the second quarter is likely to lift overall property sales in Hong Kong 10 per cent higher in the Year of the Rat despite uncertainties such as the deadly Wuhan virus outbreak and intermittent protests, according to Ricacorp Properties.

The property agency expects transactions of flats, commercial and industrial units to rise to 79,300 from around 72,100, a second straight year of declining volumes in the just-concluded Year of the Pig. Read more>>

Greater Bay Area Property Tours Postponed

Regular tours of cities covered by Beijing’s Greater Bay Area development plan by Hong Kong homebuyers will be delayed by the spread of the Wuhan coronavirus, reducing transaction volumes in this area by up to 15 percent year on year, analysts said.

Because of the epidemic, based on safety reasons, Hong Kong-based agent Midland Realty said it will postpone property tours until further notice. Read more>>

Court Sides with Singapore Homebuyers after Developer Goes Bust

Home buyers left in the lurch after a developer went bust will now have priority claims to their incomplete homes, ahead of other unsecured creditors like contractors.

The High Court has ruled that the claims of buyers of the incomplete Sycamore Tree condominium will rank above those of the other unsecured creditors, including contractors who are owed money by the project’s developer, Astoria Development. Read more>>

Logistics forum 2022 Web banner

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.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Colliers International, Dasin Retail Trust, Greater Bay Area, Hong Kong, IKEA, Singapore, Suntec REIT

Office forum 2022 Jumbo

Leave a Reply

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

Asia Proptech Report 2022 (Spreadsheet)

Get Mingtiandi Delivered

Logistics forum 2022 Web banner

MTD TV

Princeton Digital Sees APAC Network Expand with Hyperscaler Demand: MTD TV

mtd tv debt panel

Developer Crisis Creates Opportunities For Credit Investors: MTD TV

More MTD TV Videos

Latest Stories

Matthew Zann Big Screen 3

EQT Exeter Eyeing Logistics-Focused APAC Fund, Regional Boss Tells MTD TV

Japan Logistics Panel

Japan Logistics Offers a Safe Haven During a Bumpy 2022: MTD TV

Li Sze-lim

Guangzhou R&F Delays 2021 Results for 3rd Time, Sets August General Meeting

Sponsored Features

Rosanna Tang Colliers

Office Upgrades Jump After Omicron Slowed Hong Kong Market in Q1 Sponsored Feature

Bernie Devine

Is Your Building a Device? Sponsored Feature

Vietnam’s BW Acquires First Assets in Long An Province as Growth Continues Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2022 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

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


© 2007-2022 China Advertising Media Ltd (Samoa). All rights reserved.