Hong Kong’s finance chief delivered the city’s budget in a speech on Wednesday, with the planning document introducing tax cuts for first-time buyers of small homes as the government tries to jump-start sales in the world’s least affordable housing market.
China Unveils Pilot Scheme for Real Estate Private Equity Funds
Chinese regulators said they will allow the creation of real estate private equity funds under a pilot programme to boost developer financing, as the government continues to roll out measures to stabilize the country’s flagging property sector.
The new scheme,… Read More>>
Tang Shing-Bor Family Sells Two More Discounted Kowloon Assets
The family of Hong Kong’s late “Shop King” Tang Shing-bor has sold a serviced apartment building in Kowloon for HK$88 million ($11.22 million), according to market sources, as the group continues to liquidate assets at steep discounts in the face… Read More>>
Singapore’s Orchard Towers Fails to Sell at $1.2B Price Tag
Singaporean real estate firm Hiap Hoe announced that the attempted collective sale of Orchard Towers has failed, a year after owners of units in the notorious entertainment and office complex put the property on the market with a reserve price… Read More>>
Mitsubishi-Digital Realty JV Opens 21MW Data Centre in Osaka
A data centre joint venture between Mitsubishi Corporation and Digital Realty has opened a fourth building at its Osaka campus, with the latest phase offering up to 21 megawatts of IT capacity.
The addition of the new facility, dubbed KIX13,… Read More>>
Heitman Sells Singapore Self-Storage JV to Warburg Pincus-backed StorHub
Heitman exited a self-storage joint venture in Singapore with the sale of Mandarin Self Storage to Warburg Pincus-backed StorHub late last year for an estimated S$230 million ($172.2 million), Mingtiandi has learned.
The sale came after the Chicago-based… Read More>>
Hong Kong’s Henderson Land Wins Approval for Site 3 Harbourfront Plan
Henderson Land Development’s vision for the waterfront of Hong Kong’s Central district is one step closer to reality with the city’s Town Planning Board approving the developer’s designs for a HK$73 billion ($9.3 billion) commercial project.
The design… Read More>>
Kerry Properties Wins Residential Site in Hong Kong’s Tsuen Wan with $180M Bid
Kerry Properties won a residential site in Hong Kong’s New Territories for HK$1.44 billion ($180 million) to record the city’s first successful government land sale this year.
The HKEX-listed developer, through its subsidiary Wealthy Guide Ltd, has been awarded the… Read More>>
China Aoyuan Selling Stake in Property Management Unit for $32M
China Aoyuan Group has agreed to sell a 29.9 percent stake in its property management unit for HK$256 million ($32.6 million), as the Guangzhou-based developer continues to unload assets after defaulting on $1.09 billion in offshore debt last year.
Aoyuan… Read More>>
Gordon and Celine Tang Clinch Chip Eng Seng Buyout as Acceptances Surpass 90%
After two deadline extensions, Gordon and Celine Tang have hit the magic number in their take-private bid for Singapore-listed Chip Eng Seng, with the mainland money managers securing acceptances from more than 90 percent of the builder’s shareholders by the… Read More>>
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