SC Capital is expanding their hospitality portfolio in Asia
In today’s roundup of regional news headlines, SC Capital announces a new fund targeting distressed Japanese hotels, a report quantifies Singapore’s property buying spree in Australia, and China’s Huarong Asset Management avoids collapse by securing a state-led buyout.
SC Capital Raising $550M Japan Hotel Fund
Singapore’s SC Capital Partners aims to raise about $550 million for a new fund targeting hard-hit Japanese hotels, chairman Suchad Chiaranussati told Reuters.
The asset manager is one of several foreign investors, including Blackstone Group, aiming to weed out Japanese hotels as owners put up properties for sale to generate cash. Read more>>
Singapore Buys Almost $20B in Australian Real Estate in Two Years
Known colloquially as the Little Red Dot, Singapore is well and truly punching above its weight when it comes to Australian real estate.
In the two years to July 2020, Singaporean investors bought up $19.3 billion worth of Australian property, according to the latest Foreign Investment Review Board data. Read more>>
China Huarong Gets State-Led Bailout After $15.9B Loss
Government-backed investors will recapitalise China Huarong Asset Management after the bad-debt manager posted a record $15.9 billion loss, ending months of speculation over whether Beijing would deem the troubled financial giant too big to fail.
The rescue package unveiled on Wednesday suggests that the government is, for now, unwilling to allow a default by one of China’s most systemically important state-owned companies. Read more>>
APAC Real Estate Recovery Continuing, Says CBRE
Asia Pacific’s commercial real estate markets will continue to recover in the second half of 2021, with investment activity picking up significantly, regional retail rents stabilising in 2022 and office leasing demand gradually improving, according to CBRE’s Asia Pacific Real Estate Market Outlook.
COVID-19 variants prompting renewed restrictions in several markets remain the key risk to Asia Pacific’s economy and commercial real estate over the next 12 months, with the impact on growth momentum more significant in emerging Asia economies. Read more>>
Henderson Land Kicks Off Sales for Kai Tak Homes
Hong Kong’s Henderson Land Development will next week open showrooms for Kai Tak’s Henley III and release a sales brochure.
The third phase of the Kowloon East project offers 404 units ranging from studio to three-bedroom units, with sizes from 229 to 778 square feet (21 to 72 square metres). The developer said studio and one-bedroom flats make up 60 percent of the project and will be the focus of sales. Read more>>
Equinix Completes Sydney Data Centre Expansion
Equinix has completed a $48 million expansion of its SY5 data centre in Sydney.
The Phase 2 build, announced in February 2021, adds colocation space of 11,300 square metres (121,000 square feet). The addition of 2,150 cabinets takes SY5’s capacity to 3,975 cabinets. Read more>>
Two Chinese Cities Warn Property Websites on Hyping Homes
Two Chinese cities warned local online property platforms not to overstate valuations or hype properties to boost home sales, suggesting authorities are still alert to any effort to excessively pump up prices.
China implemented a slew of new measures this year to cool its home property market and control debt linked to the sector, imposing caps on prices for resale homes and restrictions on purchases. Read more>>
Australia’s Vicinity Centres in Proptech Tie-Up With Taronga
Vicinity Centres has announced a new relationship with Taronga Ventures, Asia’s leading technology and innovation investor, that will connect one of Australia’s largest retail property groups with technology that is revolutionising the retail sector.
The investment will provide Vicinity access to innovative technologies, positioning it at the forefront of the evolution of global retail and complementing its fast-growing, in-house new product development programme. Read more>>
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