Oxley Holdings chairman and CEO Ching Chiat Kwong
Singapore builder Oxley plans to sell a stake in a Malaysia hotel, with that divestment leading today’s headline roundup. Also making the list, Blackstone’s CEO enthuses about private credit and data centres and Switzerland’s Partners Group invests in a Sydney warehouse with Realterm.
Singapore’s Oxley Selling Malaysia Hotel Holdings to Raise Cash
Oxley Holdings has entered into an agreement to divest a 30 percent stake in a to-be-built luxury hotel in Malaysia, with the sales proceeds expected to “significantly” improve its cash flow.
The property player said in a Tuesday filing that its subsidiary Oxley Rising has inked an agreement to contribute 70 percent of the issued share capital of Artisan Hospitality, with the remaining 30 percent to come from Kindway Express. Read more>>
Blackstone Boss on Private Credit’s ‘Golden’ Moment, Data Centre Buzz
Private credit continues to enjoy a “golden” moment after the recent interest rate cut in the US, Blackstone CEO Stephen Schwarzman told Nikkei, anticipating strong borrowing demand in the corporate sector.
The private equity titan also sees promising opportunities in data centres for artificial intelligence and other digital infrastructure. “Blackstone is now the largest developer and owner of data centres” and has “the most land with electricity” where data centres can be built, Schwarzman said. Read more>>
Partners Group Teams With Realterm for $19M Sydney Shed Buy
Swiss-based Partners Group has teamed with global investment manager Realterm to snap up an industrial outdoor storage facility in the Sydney suburb of Fairfield for A$28 million ($19.2 million).
The pair’s purchase of 311 The Horsley Drive marked the second acquisition of their logistics joint venture in Australia and took the value of their holdings to about A$90 million as more groups enter the market. Read more>>
QIC Marketing Melbourne Mall for $342M
Queensland government-backed fund manager QIC is looking to sell the Woodgrove Shopping Centre in Melbourne’s western suburbs, with the mall expected to garner bids around the A$500 million ($342 million) mark.
The fund house’s offering will be the first time a regional shopping centre has hit the open market in Melbourne, with management rights, in more than two decades and is expected to spark a contest among domestic groups. Read more>>
Singapore’s OUE Set to Issue Green Notes
An OUE subsidiary will be issuing S$150 million ($115.7 million) in green notes bearing a fixed interest rate of 4 percent to mature in 2029, the property firm said Tuesday.
The green notes — part of OUE’s S$3 billion multicurrency debt issuance programme established in 2016 — will be offered at an issue price of 100 percent of their principal amount and in denominations of S$250,000. Read more>>
Elite UK REIT Seeks Permit for 80MW UK Data Centre
Singapore-listed Elite UK REIT has submitted a planning application to develop a new 80-megawatt data centre campus at Peel Park in Blackpool, England.
The trust’s manager said the move comes after it received “positive feedback” from the local authority during the pre-planning phase. Read more>>
China’s Shimao Says Creditors Support Restructuring Plan
Chinese developer Shimao Group said creditors holding more than 50 percent of its debt support its offshore restructuring plan, after it amended some terms.
Shimao said in a filing late Wednesday that the amendments include controlling shareholders committing to not dispose of capital stock to below 20 percent of total voting power, and certain creditors being paid in mandatory convertible bonds as a fee. Read more>>
Beijing Property Bailout Boosts Singapore-Listed Developers
Beijing’s unexpectedly huge stimulus package has sent the share prices of Chinese companies listed in Singapore surging in recent days to their highest level in years.
SGX-quoted builder Yanlord Land’s stock price has surged a whopping 57 percent over the past week, while solar energy player Sunpower Group is up 38 percent. 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.
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