Occupiers in Hong Kong’s Grade A office market gave back 172,700 square feet (16,044 square metres) more than they took up in the second quarter of 2023, mainly due to downsizing by multinational companies in Tsim Sha Tsui and Central,… Read More>>
Cromwell Property Fund to Merge With Australian Unity Vehicle in $730M Tie-Up
ASX-listed Cromwell Property Group on Friday announced an agreement to merge its Cromwell Direct Property Fund with Australian Unity’s Diversified Property Fund to form a 15-asset portfolio valued at A$1.1 billion ($730 million).
The merger will result in unitholders in… Read More>>
GLP Capital Partners Hits $360M Final Closing for 8th China Income Fund
GLP Capital Partners has reached the final closing of the eighth edition of its China onshore income fund series, amassing equity commitments of RMB 2.6 billion ($360 million).
The capital for the long-term vehicle was raised from a group of… Read More>>
Wheelock Wins Residential Site in Hong Kong’s Kennedy Town with Bargain $220M Bid
Wheelock Properties has won a residential site in Hong Kong’s Kennedy Town at a lower-than-expected price of HK$1.72 billion ($220 million) as the housing market continues to cool in the Asian financial hub.
Hong Kong’s Lands Department announced the winning… Read More>>
Dasin Retail Trust Scraps Proposed Deal as Restructuring Talks Drag On
Defaulted mall landlord Dasin Retail Trust notified the Singapore Exchange on Thursday that a proposed memorandum of understanding with a “reputable Chinese entity” has been terminated over concerns about legality and some recent actions taken by Zhang Zhencheng, who together… Read More>>
Singapore Expanding Family Office Incentives to Keep Cash Local, Go Green
The Monetary Authority of Singapore on Wednesday expanded the island financial hub’s outreach to wealthy private investors by introducing new tax policies to nudge single family offices towards sustainability-focused projects and philanthropic works.
In remarks at a briefing on MAS’s… Read More>>
Lian Beng’s $251M Buyout Moving Forward as Shareholders Accept Chairman’s Sweetened Offer
The Ong family behind Lian Beng Group has persuaded enough shareholders to accept a sweetened buyout offer for the Singapore-listed developer for the privatisation to move ahead towards a delisting.
Led by Lian Beng chairman and patriarch Ong Paik Ang,… Read More>>
Pan Pacific Selling Little India Hotel to Worldwide for $389M in Singapore Record Deal
Pan Pacific Hotels Group is selling the Parkroyal on Kitchener Road hotel in Singapore’s Little India neighbourhood for S$525 million ($389 million) in the city-state’s largest hospitality deal ever.
The hospitality arm of Singapore property conglomerate UOL Group said in… Read More>>
Hillhouse Identified as Buyer of $232M ESR-Logos REIT Singapore Portfolio
Hillhouse Capital has made its first major industrial buy in Singapore with Mingtiandi now able to identify the Chinese private equity major as the buyer of a set of five industrial facilities in the city-state sold by ESR-Logos REIT last… Read More>>
Singapore’s CDL Buys Seoul Hotel From Shinhan REIT for $110M
City Developments Ltd has acquired a 408-room hotel in Seoul for KRW 140 billion ($110 million), betting on strong demand driven by international visitors to South Korea.
Singapore’s biggest non-state-controlled developer bought the Nine Tree Premier Hotel Myeongdong II from… Read More>>
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