Hong Kong’s investment sector may be reeling from nearly two years of turmoil, but local developer Lofter Group envisions a bright future. On 24 November, the redevelopment specialist and partner Alphalex Capital agreed to acquire 1-7 Ki Lung Street in… Read More>>
Hong Kong Cuts Stamp Duty on Non-Residential Property to Revive Market
Hong Kong’s moribund commercial property market is getting a much needed lifeline. After widespread chatter about Chief Executive Carrie Lam and her council considering elimination of the seven-year-old supplementary stamp duty on commercial property, the city’s top leader made the… Read More>>
Singapore Trounces Hong Kong in ULI APAC Real Estate Investment Poll
The long-running Singapore-Hong Kong rivalry may be over for many property investors in the region, with the Lion City trouncing its competitor to the north, according to a report released this week.
Southeast Asia’s wealthiest nation topped the list of… Read More>>
Singapore’s CDL Appoints Hospitality Veteran, Aberdeen Alum to Board
Fresh off its announcement last week of a plan to streamline its loss-making hotel division, City Developments Ltd has named two new directors to the CDL board, including an old Asia hand with nearly five decades of hospitality experience.
The… Read More>>
Evergrande Services Unit Kicks Off Downsized $2B Hong Kong IPO
Evergrande Property Services Group Ltd has announced the details of its proposed listing on the Hong Kong stock exchange, with the public offering to take place from Monday to Thursday this week.
The company, a property management services spin-off of… Read More>>
CIC Nabs Half of Sydney’s Grosvenor Place Office Tower for $674M
Things are heating up as the Australian summer approaches, with China’s sovereign wealth fund paying A$925 million ($674 million) to purchase a 50 percent stake in Sydney’s Grosvenor Place office tower in 2020’s biggest commercial property deal Down Under.
The… Read More>>
Keppel Names New Leadership in Push to Unify Businesses
In line with a management plan announced earlier this year, Singapore’s Keppel Group on Monday announced five C-suite level changes to its corporate leadership, as it seeks to unify operations that span real estate, infrastructure, offshore marine and fund management.
Sumitomo Mitsui Teams with ARA in $1.3B Buyout of Japan’s Kenedix
A unit of Japan’s Sumitomo Mitsui has launched a JPY 132 billion ($1.3 billion) takeover of one of the country’s most prominent real estate fund managers, and is teaming up with Singapore’s ARA Asset Management to get the buyout completed.
Gap Shuts Central Store as It Closes Up Shop in Hong Kong
US fast fashion retailer Gap is closing its doors in Hong Kong as it follows through on plans to shut its remaining stores in the world’s most expensive retail market by the end of November, according to Apple Daily.
The… Read More>>
CDL Says It Will Offload Hotels After Hospitality Business Lost $155M in 2020 1H
Millennium & Copthorne Hotels Ltd has offered a glimpse of its recovery strategy after a 12-month period that witnessed an ill-timed privatisation, a sector-wrecking pandemic and boardroom upheaval.
After the hospitality division of Singapore-listed City Developments Ltd (CDL) reported a… Read More>>
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