Investment in Asia Pacific industrial property totalled $7.2 billion in the second quarter, plunging 62 percent from the record levels achieved during the same period a year earlier, as higher borrowing costs and swelling asset values compressed yield spreads in… Read More>>
Chinachem Takes 49% Stake in ESR Hong Kong Logistics Project
ESR has found a partner for a HK$11 billion ($1.4 billion) logistics project which it purchased last month in Hong Kong, with the industrial specialist announcing a joint venture on Monday with local developer Chinachem Group.
Entering the logistics sector… Read More>>
Jesline Goh Resigns as CIO of Singapore’s UOL as Developer Promotes Hotel Chief
Jesline Goh is stepping down as chief investment and asset officer of Singaporean developer UOL Group after nearly five years on the job, with her last day set for 11 September, according to an SGX announcement late Friday.
Now 49,… Read More>>
GIC Buys Half-Stake in Amazon-Anchored Melbourne Project
Singapore’s GIC is buying a half slice of an A$800 million ($568.3 million) Melbourne office development from Charter Hall after the Australian property giant secured Amazon and Aware Super, the third largest pension fund in the country, as anchor tenants.
CapitaLand Investment Sees Profit Drop 38% as China Bets Turn Sour
CapitaLand Investment Ltd saw its profit drop by 38.3 percent to S$433 million ($316 million) in the first half of this year as the listed fund manager took a hit from China’s stringent lockdowns while divesting assets at a slower… Read More>>
Swire Properties Takes on More Hong Kong Projects Despite Challenging 2022 1H
Swire Properties saw revenue decrease by 26 percent in the first half of the year to HK$6.70 billion ($855 million) while its underlying net profit slid 8 percent to $4.14 billion as its retail and hotel businesses were hit by… Read More>>
CK Asset Sells Home in Hong Kong’s Repulse Bay at Discount as Market Slides
A house at CK Asset’s 90 Repulse Bay Road project was sold for HK$75,000 ($9,557) per square foot this past week, setting a record for the lowest unit price at the luxury property against a backdrop of sliding values for… Read More>>
CDL H1 Profit Soars to Record High After Unloading Millennium Hilton Seoul
City Developments Ltd on Thursday posted a first-half net profit of S$1.1 billion (now $800 million), a record-high result propelled by a one-time gain from the Singapore-based builder’s divestment of the Millennium Hilton Seoul hotel.
Revenue in the first six… Read More>>
Admiralty Office Floor Sells at Five-Year Low Price in Slow Hong Kong Market
Hong Kong-listed developer Tomson Group is acquiring an office floor in Admiralty for HK$193 million ($25 million), clinching the asset at a unit price of HK$18,161 per square foot which is reportedly the lowest in five years amid muted market… Read More>>
Singapore Data Centre Operator to Enter Seoul Market with $400M Project
Singapore-based hyperscale specialist Empyrion DC plans to invest up to $400 million developing a green 40-megawatt data centre in Seoul’s Gangnam district, as it joins the growing squad of foreign firms crowding into South Korea’s digital infrastructure market.
The subsidiary… Read More>>
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