In our latest roundup of regional news headlines, Hong Kong’s K Wah spearheads a development surge in the Yangtze River Delta, a Singapore logistics trust becomes the latest recipient of green financing, and the board of India’s Embassy Office Parks REIT approves a debenture issue to fund a commercial asset acquisition.
Hong Kong and mainland property developers are pushing ahead with their strategy in the Yangtze River Delta, investing billions of yuan in a spate of deals to take advantage of Beijing’s ambitious development plan for the country’s top economic powerhouse.
K Wah International Holdings, chaired by Hong Kong’s fifth-wealthiest man, Lui Che-woo, said last Friday that it would invest about RMB 10 billion ($1.55 billion) in a proposed residential-cum-commercial project in Nanjing, the capital of Jiangsu province. Read more>>
Mapletree Logistics Trust (MLT) has secured its first green loan after two of its subsidiaries on Tuesday entered into an agreement for a S$200 million ($150.9 million) green revolving credit facility with OCBC Bank.
Proceeds from the facility will be used to finance working capital requirements that are in line with the eligibility criteria of MLT’s green loan framework. Read more>>
Embassy Office Parks REIT on Tuesday said its board approved raising up to $356 million through issuance of non-convertible debentures (NCDs) on a private place basis to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru.
The debenture committee of the board of directors of the Embassy Office Parks Management Services has approved the issuance of 26,000 listed, rated, secured, redeemable, transferable, rupee-denominated NCDs of face value of INR 10 lakh ($14,000) per debenture, aggregating up to INR 2,600 crore by Embassy REIT on a private placement basis, it said in a regulatory filing. Read more>>
Singapore’s market for resale condominiums and private apartments continued to strengthen in January, with sales volume rising and prices climbing for the sixth straight month.
Observers said homebuyers were attracted to these properties because they found them more affordable than new launches. Sentiments were also buoyed by prospects of economic recovery. Read more>>
Lendlease Global Commercial REIT on Wednesday posted a first-half distribution per unit (DPU) of 2.34 Singapore cents ($0.02) for the six months ended 31 December 2020, up 0.8 percent from the previous year’s DPU of 2.32 Singapore cents derived from annualised results.
Annualised results for the six months ended 31 December 2019 are based on the actual results from 2 October 2019 to 30 June 2020 prorated to 366 days, deducting for the REIT’s actual results from 1 January 2020 to 30 June 2020. Read more>>
Panchshil Office Parks, a unit of Pune-based Panchshil Realty, has announced the commissioning of phase two of Panchshil Business Park in western Pune’s prime business district of Baner-Balewadi.
T-Systems, the first anchor occupier, has taken up 419,000 square feet (38,926 square metres) of office space at the development. Read more>>
Centaline Property Agency co-founder Shih Wing-ching does not think the likely migration of many Hong Kong citizens with British National (Overseas) status to the UK will have much impact on the local property market.
It is not difficult for the secondary market to absorb an extra supply of about 10,800 flats each year over the next five years, he wrote in a column on local media. Read more>>