CapitaLand announced on August 27th that the company is selling its 70 percent stake in the Westgate shopping centre in Singapore to its CapitaLand Mall Trust (CMT) affiliate for S$789.6 million ($578.6 million). The transaction, which is expected to be… Read More>>
CapitaLand Appoints Lee Chee Koon as Group CEO in Accelerated Succession
CapitaLand has named 43-year-old Lee Chee Koon, the current group chief investment officer, as president and group chief executive officer of Southeast Asia’s largest real estate developer, according to an announcement dated 28 August and posted to the company’s website.
$100B Country Garden Malaysia Project in Doubt on Mahathir Warning
Country Garden’s massive 14-square-kilometre, $100 billion Forest City (森林城市) project in Johor, Malaysia may not be completed as planned following comments by Malaysian Prime Minister Mahathir Mohamad suggesting that foreigners will not be permitted to live in the new city…. Read More>>
Cryptocurrency Trader Rents Priciest Office Ever in World’s Most Expensive Real Estate Market
The second-largest bitcoin exchange globally may now be taking one of the world’s highest office rental bills after agreeing to pay a record HK$225 ($28.67) per square foot per month to lease a full floor of the Cheung Kong Center… Read More>>
Victor Li’s CK Asset Said Downsizing Shanghai Team by 30%
Victor Li Tzar-kuoi’s CK Asset Holdings is downsizing its Shanghai team by 30 percent, according to reports in the mainland press, which indicate that the Hong Kong-based developer stopped renewing contracts with local employees since February of this year.
The… Read More>>
LaSalle Enters $300M Warehouse JV with JD.Com-Backed China Logistics Property
With a fast-growing e-commerce sector driving demand for distribution space in mainland China, LaSalle Investment Management has expanded its efforts to acquire assets in the country’s warehouse sector by forming a $300 million joint venture with JD.com-backed developer China Logistics… Read More>>
Greenland’s Plan to Build China’s Tallest Tower in Wuhan Scaled Down by Over 20%
Greenland Wuhan Center, designed to surpass the Shanghai Tower and become China’s tallest building, will be falling short of its planned 636 metres (2086 feet) height, after the local government prescribed a 21 percent reduction in height for the central… Read More>>
China Rental Apartment Providers Freeze Prices, Boost Supply After Beijing Crackdown
Venture capital-backed rental apartment provider Ziroom has pledged to roll out 80,000 units of rental housing in Beijing within the next three months, while agreeing to maintain current prices for the homes, after the capital’s housing authority this month that… Read More>>
Yuexiu Property Announces Plan to Sell Fortune World Plaza in Guangzhou
Guangzhou-based Yuexiu Property this month issued an announcement to the Hong Kong Exchange, saying the company intends to dispose of its 100 percent equity interest in its subsidiary Guangzhou Yuehui Property, which holds Yuexiu Fortune World Plaza in Guangzhou’s Liwan… Read More>>
GIC Buys Stake in Mumbai Four Seasons Developer for Reported $143M
GIC is acquiring a minority stake in Provenance Land, the developer of India’s first Four Seasons hotel, according to a statement on August 22nd by the Singaporean sovereign wealth fund.
Sources familiar with the deal, as cited in India’s Economic… Read More>>
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