GIC chief executive Lim Chow Kiat
Singaporean giant GIC acquires a stake in Australia’s third-busiest airport, with that investment leading today’s headline roundup. Also making the list, Hong Kong developer Chinachem wins a New Territories commercial site and mainland builder Sunac sells its stake in a Harbin theme park.
Singapore’s GIC Said to Pick Up 5% Stake in Brisbane Airport
Singapore sovereign fund GIC has quietly picked up a circa 5 percent stake in Brisbane Airport, which posted A$706.2 million ($459 million) in EBITDA for financial 2024 after hitting record revenue of A$979.9 million.
GIC acquired the stake from a client of Igneo Infrastructure Partners. Sources said Igneo matched GIC with the seller in-house and agreed a deal in August, but the transaction wasn’t revealed until now. Read more>>
Chinachem Wins Tender for Site in Hong Kong’s Sha Tin With $130M Bid
Chinachem Group Holdings has won the rights to a commercial site in Hong Kong’s Sha Tin area with a bid of just over HK$1 billion ($130 million), according to an announcement by the city’s Lands Department on Friday.
The privately held developer outbid rivals CK Asset Holdings, Sino Land, Wheelock Properties and Sun Hung Kai Properties for the right to build up to 28,260 square metres (304,188 square feet) of space on the site at the intersection of of Sha Tin Wai Road and Siu Lek Yuen Road. Read more>>
China’s Sunac Sells Stake in Harbin Theme Park Project for $138M
Beleaguered developer Sunac China Holdings has sold its stake in Harbin Ice and Snow World Park, operator of one of the world’s largest winter-themed parks, for RMB 1 billion ($138.1 million), marking the company’s latest effort to manage its debt burden and repay creditors.
Wholly owned subsidiary Harbin Sunac Culture & Tourism Industry sold its 46.7 percent equity interest in the theme park operator to Harbin Sun Island Group, which previously owned a 52.8 percent stake in the target firm, Beijing-based Sunac said Friday in a stock filing. Read more>>
Ichigo Office REIT Sells Trio of Assets for $17M
Ichigo Office REIT announced Friday that it has decided to sell a trio of properties for a combined JPY 2.6 billion ($17 million) in a move it said was driven by portfolio enhancement.
The Tokyo-listed trust is selling Ichigo Tameike Building, Ichigo Kudan 3 Chome Building and Future Izumi in the cities of Tokyo and Osaka as it seeks to drive earnings by focusing on high-quality, mid-sized office properties. Read more>>
Vietnam’s Vingroup Sells 80% Stake in Largest Project to Foreigners
Conglomerate Vingroup has decided to transfer an 80 percent stake in its real estate subsidiary, VYHT JSC, to foreign investors, the Vietnamese giant announced in a board resolution. The firm did not disclose the identities of the overseas parties involved.
Vingroup also transferred the remaining 19.93 percent stake in VYHT to its housing development arm, Vinhomes. Established in June, VYHT is developing part of the $2.4 billion Vinhomes Royal Island urban project, located on Vu Yen Island in Hai An district, Hai Phong city. Read more>>
China Home Sales Slid Again in November as Recovery Proves Elusive
China’s residential market sales fell again in November, suggesting the property sector still has some ways to go before it can show a sustained recovery.
The value of new home sales from the 100 biggest real estate companies dropped 6.9 percent from a year earlier to RMB 363 billion ($50 billion), reversing a 7.1 percent gain in October, according to preliminary data from China Real Estate Information Corp. Sales declined 16.6 percent from the previous month. Read more>>
China Home Prices Rose at a Faster Pace in November
Prices of new homes in China rose at a faster pace in November, a private survey showed on Sunday, as a string of policies may be lending support to the ailing property market.
The average price across 100 cities edged up 0.36 percent, compared with the previous month’s 0.29 percent, according to data released by property researcher China Index Academy. On a year-on-year basis, the average price rose 2.40 percent versus 2.08 percent growth in October. Read more>>
India’s DLF Selling Kolkata IT Park for $76M
Realty major DLF’s joint venture firm DCCDL has agreed to sell an IT park in Kolkata to Primarc and RDB group for INR 6.4 billion ($76 million).
DLF Info City Developers (Kolkata) Ltd, a wholly owned subsidiary of DLF Cyber City Developers Ltd, has entered into a definitive agreement to sell and transfer its Kolkata Tech Park 1 to RDB Primarc Techno Park LLP, DLF said in a regulatory filing. Read more>>
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