The board of Joy City Property on Thursday proposed a HK$2.93 billion ($370 million) buyback of the mainland commercial developer’s shares as part of a plan to take the Hong Kong-listed company private.
Joy City would be wholly owned by… Read More>>
Keppel H1 Profit Surges 25% After Hiving Off Non-Core Portfolio
Keppel Ltd on Thursday said first-half net profit rose 25 percent year-on-year to S$431 million ($333 million) on strength in the Singaporean conglomerate’s real estate and infrastructure businesses.
The profit figure excludes the group’s non-core portfolio for divestment, underscoring Keppel’s… Read More>>
Ichigo Hotel REIT Buying Two Japan Hotels for $38M
Japan’s Ichigo Hotel REIT has agreed to acquire a property in Okinawa and another on the western coast of Honshu island for a total of JPY 5.7 billion ($38 million).
The Tokyo-listed trust sponsored by Ichigo, the investment manager led… Read More>>
Hongkong Land Swings to $221M H1 Profit as Central Portfolio Value Stabilises
Hongkong Land reported a first-half attributable profit of $221 million, reversing a year-earlier loss of $833 million, as the valuation of the builder’s Central-based hometown office portfolio stabilised for the first time since rents began to decline in 2019.
The… Read More>>
Mitsui Fudosan REIT Selling Two Greater Tokyo Warehouses for $240M
Mitsui Fudosan Logistics Park has agreed to sell two Greater Tokyo warehouses, including a large facility in Chiba prefecture’s Inzai, for a total of JPY 35.4 billion ($240 million).
The Tokyo-listed REIT will offload i Missions Park Inzai for JPY… Read More>>
Warburg-Backed Qube Sells Greater Seoul Warehouses to Blackstone
A year and a half after being established to take advantage of rising demand for investment-grade logistics assets in South Korea, Warburg Pincus-backed Qube Industrial has sold a pair of Greater Seoul warehouses to Blackstone for an undisclosed sum.
Qube… Read More>>
Rava’s Samty Reaches $391M Closing on First Japan Hotel Investment Fund
Just over a half-year after having been taken private in a transaction backed by Hillhouse Investment’s Rava Partners division and Daiwa Securities Group, Japanese real estate firm Samty Holdings has raised JPY 58 billion ($391 million) for its first dedicated… Read More>>
PAG Data Centre Unit Flow Breaks Ground on 30MW Central Tokyo Campus
Flow Digital Infrastructure has begun construction of a 30-megawatt data centre campus in central Tokyo, with the unit of Asia-focused private equity firm PAG aiming to meet hyperscale demand in one of the world’s biggest markets for server sheds.
The… Read More>>
CapitaLand Ascott Trust Posts 6% H1 Profit Jump as Distribution Holds Steady
CapitaLand Ascott Trust on Tuesday posted a 6 percent year-on-year jump in first-half gross profit to S$182.5 million ($141.8 million) as the managers credited stronger operating performance, portfolio reconstitution and asset enhancement initiatives at Asia Pacific’s biggest lodging REIT.
CLAS’s… Read More>>
Meitu Founder Buys Project in Hong Kong’s Causeway Bay for $96M
Mainland venture investor Mike Cai Wensheng is taking advantage of bargain prices for Hong Kong assets with the billionaire co-founder of selfie app Meitu picking up his second Hong Kong commercial property in three months at a fraction of its… Read More>>
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