Tencent is spreading beyond its home base in Shenzhen
In today’s roundup of regional news headlines, Chinese internet giant Tencent launches its first data centre in Indonesia, the investment arm of Canada’s biggest pension plan announces an Indian office joint venture with developer RMZ, and another Indian developer, Macrotech, raises over $330 million from its IPO.
Tencent Cloud Launches First Indonesia Data Centre
The cloud business of Tencent announced the launch of its first internet data centre in Indonesia, further emphasising its commitment to addressing the ever-growing business needs in Indonesia and Asia.
Deploying its cloud offerings across the region, Tencent Cloud is further strengthening its global footprint through the significant launch of the new data centre — the latest addition to its growing infrastructure network that now spans 27 regions and 61 availability zones. Read more>>
CPPIB Investing in $210M India Office JV With RMZ
Canada Pension Plan Investment Board and Bengaluru-based RMZ Corp announced a joint venture for three office projects on Sunday, with the Canadian fund investing $210 million.
The joint venture includes three projects — RMZ Nexity and RMZ Spire in Hyderabad and RMZ One Paramount in Chennai — with a development potential of about 10.4 million square feet (966,192 square metres). Read more>>
Macrotech Developers IPO Raises $332.6M
The initial public offering of India’s Macrotech Developers received bids for 49.4 million shares as against 36.4 million shares on offer. The issue was subscribed 1.36 times.
The issue comprised a fresh issue of equity shares aggregating up to INR 25 billion ($332.6 million), including the anchor portion of 15,246,913 equity shares. Read more>>
How Shenzhen Home Prices Compare to Hong Kong’s
Shenzhen was nothing more than a fishing village four decades ago, before China carved out its first special economic zone to experiment with market capitalism.
Well-heeled people from neighbouring Hong Kong flocked across the border for holidays, or to buy a second home for a fraction of what it would cost at home. Read more>>
Frasers Hospitality Trust to Redeem S$100M in Notes on First Call Date
The manager of Frasers Hospitality Trust said the REIT will redeem at par all the outstanding securities of its S$100 million ($74.6 million), 4.45 percent perpetual securities. It will do so on 12 May, the first call date.
FHT will redeem S$250,000 for every S$250,000 in nominal amount of perps, together with distribution accrued to 11 May. This includes any arrears of distribution and any additional distribution amounts, the manager said in a bourse filing on Monday. Read more>>
CDL Sells Over 50% of Irwell Hill Residence Units on Launch Weekend
On 11 April, Singapore-listed City Developments Ltd (CDL) announced that 278 units (about 51.5 percent) of its 540-unit Irwell Hill Residences condo project were snapped up on its launch weekend. The average price of units sold in the luxury development was S$2,700 ($2,013.69) per square foot.
About 80 percent of the buyers are Singaporeans, while the rest are made up of permanent residents and foreigners from China, Malaysia, Indonesia, Australia, South Korea, the UK and other nationalities. Read more>>
Industrial Project on Singapore’s Loyang Drive for Sale at S$25M
An industrial development comprising two four-storey industrial blocks adjoined by a single-storey building at 53 Loyang Drive is on the market at a guide price of S$25 million ($18.7 million), according to Savills Singapore.
The property occupies a total site area of 162,650 square feet (15,111 square metres) with a gross floor area of 116,427 square feet. Read more>>
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