Singapore investment manager Sun Venture has made its first hospitality bet by acquiring a 280-key hotel in central London from UK asset manager Resolution Property for less than £100 million ($126.5 million), according to market sources familiar with the transaction.
Hong Kong Budget Scraps Stamp Duties to Boost Struggling Housing Market
Hong Kong is rolling back all taxes on residential property transactions in an effort to put a floor under a protracted housing market slump that has seen residential property prices slide to seven-year lows.
In his annual budget speech to… Read More>>
Singapore’s Ho Bee Land Swings to S$260M 2023 Loss on London Markdowns
Singapore-listed developer Ho Bee Land has swung to the red in 2023 with an attributable net loss of S$259.8 million, as fair value losses on its London investment properties and higher interest expenses dented the company’s profitability.
The company’s loss… Read More>>
Luxury Site in Singapore’s Holland Village Launched Despite Market Slide
A luxury condominium site in Singapore’s Holland Village area which could bring offers as high as S$1 billion ($740 million) has been launched for sale as developers pull back from pricey housing plots in the face of slower home sales… Read More>>
Weave Living Gets Equity Boost From Founder Doshi and Warburg, Launches $500M Japan Fund
Weave Living has secured further investment from existing shareholders, founder and CEO Sachin Doshi and private equity major Warburg Pincus, as the rental residential operator looks to double its portfolio in an expansion set to take it beyond Hong Kong,… Read More>>
Goldman Sachs, Mubadala Launch $1B APAC Private Debt Partnership
Goldman Sachs and Abu Dhabi’s Mubadala Investment Company have established a $1 billion partnership to invest in private debt opportunities across Asia Pacific, including real estate, in a bid to plug a financing gap left by traditional lenders.
The partners… Read More>>
China Resources Buys Hong Kong Shopping Centre From Lai Sun, Empire for $68M
State-run conglomerate China Resources continues to be one of the biggest buyers of Greater China real estate during the current downturn with a property unit of the Shenzhen giant having picked up a commercial asset in the New Territories in… Read More>>
David Teo’s Apricot Capital Closes on Bukit Timah Buy, Readies Co-Living Conversion
The family of Singapore instant coffee king David Teo has completed their S$105-million ($78.1 million) purchase of a mixed-use property in the city’s upscale Bukit Timah area and is preparing to transform the asset into a combined co-living and retail… Read More>>
Jack Ma’s Wife Buys Shophouses in Singapore’s Tanjong Pagar at Up to $37M
Despite stamp duties and investigations, wealthy mainland investors are still banking on Singapore properties, with the wife of the country’s best known tech tycoon having purchased a row of shophouses in the Tanjong Pagar area last month for a reported… Read More>>
CDPQ Set to Slash Jobs at Ivanhoe Cambridge, Otera After 6.2% Loss in 2023
Quebec public pension manager Caisse de Dépôt et Placement du Québec (CDPQ) is preparing to reduce headcount at its real estate divisions after the fund manager recorded a 6.2 percent loss on its property investments in 2023 — the only… Read More>>
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