Hong Kong developer Wang On Properties has taken over an aging residential building in Southern District’s Ap Lei Chau for about HK$106 million ($13.6 million), with plans to redevelop the property and surrounding buildings into what could become a more… Read More>>
State Developers Take 8 of Top 10 Spots in China Sales Rankings
State-owned enterprises dominated the ranks of China’s biggest developers by sales in 2022, with SOEs accounting for eight of the top 10 mainland builders, as Beijing’s deleveraging policy battered the country’s private real estate firms.
Country Garden Holdings and Longfor… Read More>>
Viva Land Marketing Singapore Assets at 10% Off After Vietnam Fraud Arrests
After setting Singapore price records with its purchases of an office tower and a five-star hotel along Robinson Road, Viva Land is seeking to unload both assets for around S$670 million ($506.7 million), according to market sources.
The urgent sale… Read More>>
JLL Hires Paul Davis, Shai Greenberg to Lead Japan International Capital Division
JLL has beefed up its Japan capital markets team with the hiring of Paul Davis and Shai Greenberg to serve as co-leads of international capital in the country.
Davis joins the property consultancy from law firm Morrison & Foerster, where… Read More>>
Dasin Retail Trust Slapped With Default Notice After Payment Fail
Chinese mall landlord Dasin Retail Trust has received a letter from Macau’s Luso Bank declaring a default after the Singapore-listed REIT failed to make an interest payment on a $13.1 million loan facility.
Pursuant to the last interest payment made… Read More>>
M&G Takes Majority Ownership of ESR Greater Tokyo Warehouse for $267M
M&G Real Estate Asia has acquired an additional one-third interest in an ESR Greater Tokyo distribution centre for JPY 34 billion ($267 million), giving the Asian division of the British asset manager a majority stake in one of ESR’s largest… Read More>>
Alibaba-Backed Red Star Macalline Being Bought Out by Xiamen SOE
A Chinese state-controlled conglomerate has agreed to buy what could be a controlling stake in Red Star Macalline Group Corporation, an Alibaba-backed home improvement mall chain, as government firms continue to bail out China’s flailing private real estate sector.
Shanghai-listed… Read More>>
AirTrunk Enters Malaysia With 150MW Data Centre Project in Johor Bahru
AirTrunk on Thursday announced the development of its first data centre in Malaysia, a hyperscale facility in Johor Bahru with more than 150 megawatts of planned capacity.
AirTrunk’s JHB1 campus will span 10.3 hectares (25.5 acres) at the southern tip… Read More>>
Japan’s Aeon REIT Buying Two Malls for $170M
Tokyo-listed Aeon REIT has agreed to buy two shopping centres, including the largest mall in Japan’s Wakayama prefecture, for a total of JPY 21.3 billion ($170 million).
The JPY 477.8 billion trust sponsored by retail giant Aeon Co will pay… Read More>>
Wanda’s Wang Jianlin Pledges 65% Stake in Hotel Unit to Secure Temasek Loan
Dalian Wanda Group’s billionaire chairman, Wang Jianlin, has pledged his entire 65 percent stake in the Chinese conglomerate’s hotel division as collateral to secure a loan for another Wanda subsidiary from Singaporean state holding firm Temasek.
Companies controlled by Temasek… Read More>>
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