In today’s roundup of regional news headlines, investment manager Schroders acquires a majority stake in Australian lender RF Eclipse, a tender for a land parcel in Hong Kong’s northern New Territories attracts 10 bids, and SGX-listed CapitaLand Integrated Commercial Trust reports a year-on-year surge in net property income.
Global investment manager Schroders has bought a majority stake in Multiplex scion Andrew Roberts’s non-bank commercial real estate lending business RF Eclipse.
Schroders has acquired a 50.1 percent in RF Eclipse, which is currently wholly owned by the RF Group, the family office of Andrew Roberts, former majority shareholder of Multiplex. Read more>>
The first parcel of land in the Kwu Tung area of Hong Kong’s northern New Territories has attracted 10 bids from local and mainland China-based developers.
The tender gets the government’s Kwu Tung North and Fanling North New Development Area off to a good start after years of planning, although the bids are likely to be cautious, analysts said. Read more>>
CapitaLand Integrated Commercial Trust (CICT) saw its net property income rise 66.6 percent in the first quarter ended 31 March 2021 to S$247.1 million ($186.4 million) from S$172.1 million a year ago, its manager reported in a business update Monday morning.
Gross revenue rose 63.9 percent year-on-year to S$334.8 million from S$204.3 million in the first quarter of 2020. Read more>>
Property owners looking to have a more eco-friendly home may be able to take up a green renovation loan from DBS.
The bank said the rate of 2.68 percent a year is the industry’s lowest for such a loan, adding that the average market rate is about 3.88 percent. Read more>>
Chinese property developers have turned their sights to Hong Kong’s border districts as mainlanders from neighbouring boomtown Shenzhen consider parts of the former British colony as a more affordable long-term housing prospect.
The development plans are seen by some as a turning point, with buyers from what was once considered Hong Kong’s cheaper industrial hinterland increasingly viewing the global finance hub as Shenzhen’s “backyard”. Read more>>
Hong Kong’s property buyers flocked to new flats on offer at Tuen Mun, as the wealth effect from the stock market and an expanded roll-out of vaccinations bolstered expectations of an economic recovery and lifted sentiment.
Sun Hung Kai Properties sold 117 flats, or 90 percent of the first batch of 129 units on offer, at the Regency Bay II project as of 7.30pm on Saturday, according to sales agents. It is the first new property project launched in 2021 by the biggest local developer by market capitalisation. Read more>>
One-North Eden in Buona Vista has reported that it is 85 percent sold over the weekend — that is, 140 out of 165 apartments have been moved in a virtual launch as at 6pm Sunday.
Sales across all unit types were strong, with the selling price working out to S$1,800-S$2,250 ($1,358-$1,698) per square foot, developer TID said in a release. TID is a joint venture of Hong Leong Holdings and Mitsui Fudosan, a Japanese real estate developer. Read more>>