Singapore’s Changi airport is set for a major expansion
Singapore’s world famous airport is about to add capacity for another 50 million passengers, with that story leading Mingtiandi’s headline roundup today. Also in the news, Centaline Group confirms its purchase of Kowloon hotel and France’s Carrefour is ready to re-enter the India market.
Singapore’s Changi Airport to Build Huge New Terminal
Singapore’s Changi Airport, frequently voted among the world’s best, will finally start work on a massive new terminal next year as it seeks to keep up with an aviation building boom across Asia and the Middle East.
Work on the new Terminal 5, first floated more than a decade ago, will start in the first half of 2025, Prime Minister Lawrence Wong said at a dinner Friday celebrating the 40th anniversary of the nation’s civil aviation authority. The terminal will be able to handle 50 million more passengers a year, raising the airport’s total capacity to 140 million, and allow connections to more than 200 destinations, up from almost 150 now. Read more>>
Hong Kong’s Centaline Confirms Popway Hotel Buy
Centaline Group, Hong Kong’s biggest real-estate agency, is making its first foray into the student accommodation business, as government plans to turn the city into a hub for higher education fuel a rush into the market segment.
The group is converting the 63-room Popway Hotel in Tsim Sha Tsui into 150 beds for student rentals, founder and chairman Shih Wing-ching said in a phone interview on Monday. This marks the start of its venture to provide 3,000 beds over the next three years, which Centaline hopes can replicate its success in the UK and US markets. Read more>>
Carrefour Set to Re-Enter India Market
French retailer Carrefour, which operates over 14,000 stores in more than 40 countries, is re-entering India after a decade, in partnership with Dubai-based Apparel Group.
French retailer Carrefour, which operates over 14,000 stores in more than 40 countries, is re-entering India after a decade, in partnership with Dubai-based Apparel Group. Apparel Group, a leading retail and lifestyle retailer, has entered into a franchise partnership with Carrefour, to launch the French company’s brands in the Indian market. Read more>>
Van Thinh Phat Boss Faces Second Trial on Appeal
The second trial of Vietnamese real estate tycoon Truong My Lan, who is charged with multiple financial offences is set to commence on Sept 19 as she appeals a death penalty verdict issued earlier this year.
The proceedings will involve 33 additional defendants and are expected to last until Oct 19. Lan and her co-defendants are accused of fraudulent appropriation of property, money laundering and the unlawful transportation of currency across international borders. Read more>>
Housing Prices Jump 80% in India’s Hyderabad Over Four Years
Hyderabad has witnessed a dramatic 80 percent rise in housing prices over the past four years, mirroring a broader upward trend across India’s real estate market, according to a recent report by Magicbricks on housing affordability in major Indian cities.
The report highlighted a sharp increase in the property price-to-annual household income (P/I) ratio in India, which climbed from 6.6 in 2020 to 7.5 in 2024, far exceeding the globally accepted benchmark of 5. This surge signals a significant strain on affordability, as home prices outpace income growth. Read more>>
Major Pension Funds Get More Active Globally
The world’s largest 300 pension funds returned to growth in 2023, erasing much of the decline of the previous year. However the assets of the largest pension funds are still not yet back to their record highs, according to this year’s Global Top 300 Pension Funds report by the Thinking Ahead Institute, in conjunction with Pensions & Investments, a leading U.S. investment publication.
The research highlights high-level trends in the pension fund industry and provides information on the changing composition of the top 300 list of pension funds globally, including the characteristics and investment allocations of these pension funds. Read more>>
India Fund Manager Hits $45M Close on Residential Debt Fund
Arnya RealEstates Fund Advisors, an alternative investment management firm, has raised INR 3.75 billion ($45 million), marking the first close of its maiden real estate fund, said a top company executive.
The fund, Arnya Real Estate Fund – Debt, was launched in April and aims to raise a corpus of INR 10 billion, with a green-shoe option of another INR 10 billion. Read more>>
Bali Proposes Ban on Hotel, Villa Construction
Indonesia’s tourist resort island of Bali has proposed a ban lasting a year or two on the construction of hotels, villas and nightclubs in some areas, as it grapples with the problem of overdevelopment of land, its governor told the media.
The plan has been suggested to the central government, which wants to reform tourism on Bali, one of Indonesia’s main attractions, in a bid to boost tourism quality and jobs while preserving the island’s indigenous culture. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
Leave a Reply