In today’s roundup of regional news headlines, Weave Living opens its latest rental residential property in Hong Kong’s Mid-Levels, US-based Equinix eyes a second Malaysia data centre, and China property stocks tumble amid an uncertain economic recovery.
Hong Kong-based Weave Living has opened a new rental residential property at 68 Robinson Road in Hong Kong.
The 25-room development is in the Mid-Levels area close to Soho. Known as Weave Residences Robinson, the new property comprises a mix of two-bedroom units, each spanning about 700 square feet (65 square metres) with a private lift lobby. Read more>>
NASDAQ-listed digital infrastructure firm Equinix plans to open a data centre in Kuala Lumpur in the first quarter of next year, following its announcement last year to enter Malaysia with a data centre in Johor.
The company’s president for Asia Pacific, Jeremy Deutsch, said Equinix has witnessed Malaysia emerge as an increasingly strategic location for global digital infrastructure. Read more>>
Shares of major Chinese real estate firms sank Monday as investment bank Goldman Sachs forecast more headwinds for the sector amid China’s sputtering economic recovery.
Hong Kong-listed Country Garden Holdings, Poly Property Group and Guangzhou R&F Properties lost between 2 and 5 percent by the midday break, while Sunac China Holdings was the worst performer among its peers, down more than 12 percent to near a 12-year low. Read more>>
Quarz Capital has just declared war on ESR Group — that was the reaction of an old hand in Singapore’s REIT sector to news this past week that the activist investor has requisitioned an extraordinary general meeting to internalise the manager of Sabana Industrial REIT.
If the resolutions Quarz wants to put forward at the EGM are passed, the current manager of Sabana REIT — a company called Sabana Real Estate Investment Management, which is ultimately owned by Hong Kong-listed ESR — will stop receiving fee income from the trust. Read more>>
Hong Kong-based asset manager Panda Residential is seeking to raise as much as £1 billion ($1.2 billion) from outside investors in the region to bet on the recovery of the UK commercial property market.
The fund, whose backers include the heir of the Sasa cosmetics retail chain in the city, deems it opportune to pick up pubs, hotels and student housing amid “depressed moments” that could deliver an additional 15 to 20 percent upside in an industry upturn. Read more>>
WeWork Greater China, a unit of the US co-working space provider, is once again considering expanding in Hong Kong, having reduced more than half of its footprint in the city during the coronavirus pandemic.
The firm, in which Shanghai-based investment firm Trustbridge Partners holds a more than 51 percent share and WeWork Global has a minority stake, is seeing more Chinese firms trying to seize offshore opportunities — and turning to flexible offices in Hong Kong in the process. Read more>>
Sun Hung Kai Properties sold all 188 units of its Novoland project in Tuen Mun on Saturday afternoon, as attractive prices drew first-home buyers to the new development.
Units at Novoland’s Phase 2A consisted of one- to three-bedroom units, ranging from 245 to 705 square feet (23 to 65 square metres). After discounts, they were priced from HK$3.35 million to HK$9.41 million ($430,000 to $1.2 million). Read more>>
The controlling shareholder of SGX-listed developer Lian Beng Group has extended the deadline for acceptance of its buyout offer for the company from 9 June to 30 June, according to an announcement on Friday.
As of the close of business that day, a company controlled by the family of Lian Beng chairman Ong Paik Ang had won ownership or acceptances of the buyout offer which gave it control of 82.54 percent of the company, up from 69.56 percent at the time that the offer was made. The family will need 90 percent acceptance for the buyout to proceed. Read more>>