Shui On Land has agreed to sell a 65 percent equity interest in a Shanghai commercial project to a fund controlled by state-owned insurer Dajia Life for RMB 1.2 billion ($170 million).
The disposal is in line with Shui On’s… Read More>>
Vietnam Tracking Down Van Thinh Phat Assets at Home and Abroad
Having earlier this month charged former Van Thinh Phat boss Truong My Lan and 85 co-defendants with embezzling VND 304 trillion ($12 billion), Vietnamese authorities now say they are tracking the company’s laundering of its ill-gotten cash through real estate… Read More>>
Overseas Chinese Town Sells Shanghai Bulgari Hotel for $344M
State-owned mainland developer Overseas Chinese Town (OCT) has agreed to sell the Bulgari Hotel in Shanghai, as the indebted builder offloads an unprofitable project amidst plummeting revenues and a slow recovery in China’s tourism market.
Building materials maker Jiangsu Jinfeng… Read More>>
Swire Properties Warns of 70% Profit Plunge on Investment Losses
Swire Properties on Tuesday warned of a 70 percent drop in full-year profit for 2023, laying the blame on a HK$4.5 billion ($580 million) valuation loss in the developer’s investment portfolio.
Hong Kong-based Swire Properties cited a lower fair-value gain… Read More>>
New World Taps China Resources to Develop $1.3B New Territories Residential Project
New World Development has teamed with state-controlled China Resources Land on a residential joint venture worth a reported HK$10 billion ($1.28 billion), giving the debt-laden Hong Kong builder a chance to raise cash from farmland it owns in the New… Read More>>
Angelo Gordon Selling Yokohama Office Tower to Orix JREIT for $142M
An Angelo Gordon fund is selling an 18-storey office tower in Japan’s Yokohama city for JPY 20 billion ($142 million) to Orix JREIT.
The TSE-listed trust announced on Monday that it will acquire Shinyokohama Square Building, 36 kilometres (22 miles)… Read More>>
Alyssa Partners, Dai-Ichi Life Buy $140M in Japanese Rental Apartments
After acquiring Japanese properties with some of the largest investors from Europe and North America, investment manager Alyssa Partners has teamed up with Japan’s third largest insurer to buy a portfolio of Japanese rental apartments with market sources indicating the… Read More>>
Link REIT Hires Former BlackRock Real Estate Chief John Saunders as Group CIO
Asia’s largest real estate investment trust has replenished its investment leadership with Hong Kong-listed Link REIT announcing today that it has hired former BlackRock Asia Pacific real estate boss John Saunders as group chief investment officer — a newly created… Read More>>
Mapletree Sells Retail Building in Osaka’s Namba Shopping District for $360M
Singapore’s Mapletree Investments has sold a 10-storey retail tower in one of Asia Pacific’s most expensive shopping districts to Japan’s fifth-largest electronics and home appliance retailer as consumer spending rebounds in Asia’s second-biggest economy.
The Temasek Holdings owned fund manager… Read More>>
Jailed Vietnamese Property Tycoon, 85 Accomplices Indicted for Allegedly Embezzling $12B
Jailed Vietnamese property tycoon Truong My Lan, whose family built a cache of properties in Hong Kong and Singapore worth hundreds of millions of dollars, has been indicted with 85 co-defendants on charges of embezzling VND 304 trillion ($12 billion)… Read More>>
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