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 2023 Event Calendar
    • Mingtiandi APAC Residential Forum 2023
    • Mingtiandi Asia Logistics Forum 2023
    • Mingtiandi Hong Kong Focus Forum 2023
    • Mingtiandi APAC Data Centre Forum 2023
    • Mingtiandi Asia Office Strategies Forum 2023
    • Mingtiandi Singapore Focus Forum 2023
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Japan’s Takashimaya Pulls Out of China and More Asia Real Estate Headlines

2019/06/26 by James Hatton Leave a Comment

Takashimaya will close its remaining Shanghai store in August

Retail leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a loss-making Japanese retailer is closing its department store in Shanghai and pulling out of China.

In other news around the region, co-working rents are set to rise even as demand slows in the world’s least affordable city, foreign property investment in China hit a record $2.7 billion and Alibaba says it has found the solution to people walking off without paying for things in its unmanned shops.

Japanese Retailer Takashimaya Pulls out of China

Japanese department store chain Takashimaya will close its flagship store in Shanghai in August and halt its operations in China, Nikkei has learned.

The store has been losing money and the Osaka-based company decided it would be difficult to turn the business around as private consumption has slowed in China amid the trade war with the US. Read more>>

Hong Kong Co-Working Rates Set to Rise

Rents for co-working space in Hong Kong, already the most expensive in Asia-Pacific at $741 per month, are set to rise further as the sector undergoes another wave of consolidation even as uptake slows, say industry operators.

According to the latest report from property agency Colliers, Hong Kong, with 141 shared office centres, topped 14 other cities in the region in terms of average desk cost per month, followed by Beijing at $693,  and Sydney at $690. Read more>>

Foreign Investment in China Commercial Property Hits Record $2.7B

Foreign investors are starting to buy commercial real estate in China again, shrugging off frothy prices and the trade dispute with the US while focusing on China’s maturing domestic market and longer-term growth prospects.

Institutional investors—ranging from the US and Switzerland to Bahrain and Singapore—were net buyers of $2.7 billion worth of Chinese commercial real estate in the first quarter, according to Real Capital Analytics. Read more>>

Alibaba’s Sesame Credit Makes Shoppers Honest in Unmanned Stores

The capitalist’s dream of a shop with no human labour is too appealing for the likes of Alibaba to be dissuaded by small problems such as the perishability of food and the need for customers to be trustworthy.

Research firm Trivium reports that Alibaba’s “marketing machine released a video” comparing an experiment four years ago in which only 62 percent of shoppers actually paid for their goods at unmanned stores with a study run last week, involving on-demand rental kiosks, in which 95 percent of customers who rented stuff returned it. Alibaba says the difference in the results is because of Sesame Credit, its affiliate social credit system (SCS). 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.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: Alibaba Group, Co-working, Faraday Future, Hong Kong office market, Japan, Retail

Leave a Reply

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

Get Mingtiandi Delivered

MTD TV

MTD Korea Logistics
Investors Confident in South Korea’s Logistics Market Despite Headwinds
Multi-Family Investment in Japan Thumbnail
Japan’s Multi-Family Market Still Has Room to Run After Banner Year: MTD TV

More MTD TV Videos>>

People in the News

Brian Kwon Dexus
Dexus Opens Singapore Office, Hires Brian Kwon as Head of Distribution for Asia
Vida Tandean
CBRE IM Appoints Vida Tandean as Head of Indirect Private Real Estate Strategies in Asia
Henry Bott Swire
Asia Real Estate People in the News 2023-01-30
Liu Weiliang Zhenro
Asia Real Estate People in the News 2023-01-23

More Industry Professionals>>

People in the News

Dexus Opens Singapore Office, Hires Brian Kwon as Head of Distribution for Asia

Brian Kwon Dexus

Australian property major Dexus is extending its regional reach with the opening of a new office in Singapore and the … Read More>>

CBRE IM Appoints Vida Tandean as Head of Indirect Private Real Estate Strategies in Asia

Vida Tandean

CBRE Investment Management has bolstered its regional roster with the hiring of Vida Tandean as head of Asia investments … Read More>>

Asia Real Estate People in the News 2023-01-30

Henry Bott Swire

One of Hong Kong’s best known conglomerates leads this week’s set of personnel updates on Mingtiandi as Hong Kong’s John … Read More>>

Asia Real Estate People in the News 2023-01-23

Liu Weiliang Zhenro

An ailing mainland developer leads this week’s set of personnel moves from around Asia, as a new chairman takes over at … Read More>>

More Industry Professionals>>

Latest Stories

Kwun Tong Town Centre
Kwun Tong Plot Pulled After Receiving Single Bid and More Asia Real Estate Headlines
Laurent Jacquemin AXA
AXA IM ALTS Picks Up 33 Japanese Apartment Buildings for $459M
Tim Blackburn Swire
Swire Properties Buys 40% Stake in Bangkok Residential Site From HKRI for $73M

Sponsored Features

How Data Leadership Can Prepare Real Estate Companies for Big Data and AI in 2023
OpenSpace Capture
OpenSpace Capture Provides On-the-Ground Eyes at US Government Building Projects
Malls and Megaprojects from Hong Kong to Beijing Triumph at PropertyGuru Awards Show

More Sponsored Features>>

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


© 2007-2023 China Advertising Media Ltd (Samoa). All rights reserved.

  • This field is for validation purposes and should be left unchanged.