PAG has acquired an office tower in central Sydney for A$393.1 million ($257.8 million), with the Asian private equity major taking advantage of a downturn in the Aussie market to pick up the property at a discount.
The Hong Kong… Read More>>
Swire Cuts Pacific Place Rents by 12% as Hong Kong Office Slide Hits Prime Segment
The price for a developer to maintain occupancy in a prime office property in Hong Kong’s declining market might just be a 12 percent rent cut, according to operating statistics released by one of the city’s top commercial landlords late… Read More>>
China’s Central Bank Meets with Private Real Estate Giants to Assure on Policy Support
With the country’s largest developers fighting to stave off a fresh round of defaults, China’s central bank chief huddled with representatives from several private builders late last week to assure them that help is on the way.
In a meeting… Read More>>
Goldman Sachs Asset Management Names Nikhil Reddy Head of APAC Real Estate
Goldman Sachs has appointed a new top executive for its real estate investment management business in Asia Pacific, a company representative confirmed to Mingtiandi on Thursday, as the investment banking giant reorganises leadership in the division globally.
Nikhil Reddy, who… Read More>>
ULI Asia Pacific Names New CEO as David Faulkner Retires
The Urban Land Institute has named new leadership for its Asia Pacific operation with the industry non-profit on Wednesday announcing Alan Beebe as its chief executive officer for the region.
Beebe, who had served until early last year as president… Read More>>
ESR Secures $205M Green Loan for Hong Kong Data Centre Project
Two years after buying an industrial asset in Hong Kong’s Kwai Chung district as its first major acquisition in the city, ESR has secured a HK$1.6 billion ($205 million) sustainability-linked loan to finance conversion of the former cold storage facility… Read More>>
Hongkong Land Declares Loss as Rents Slide, Vacancy Rises in Central Office Portfolio
Hong Kong’s sliding office market is pushing the city’s best known commercial landlord into the red, as Hongkong Land late last week declared a loss attributable to shareholders for the first six months of 2023 of $333 million.
The owner… Read More>>
China’s Largest Developer Sees Stock Drop 7.59% After $300M Share Sale Nixed
Investors drove shares in Country Garden Holdings down by as much as 11 percent on Tuesday after the company confirmed the cancellation of a share sale aimed at bringing in a reported HK$2.34 billion ($300 million) in cash.
“The Company… Read More>>
Warburg Pincus Names Ellen Ng, Goldmans’s Murata to Lead Asia Real Estate
Less than two weeks after its head of Asia real estate Jeffrey Perlman was promoted to president of its global business, investment firm Warburg Pincus has named new leadership for its property division in the region, promoting a company veteran… Read More>>
Wing Tai Cancels Buy of Singapore Residential Project as Market Cools
Developer Wing Tai Holdings is backing out of a deal to acquire a residential project in Singapore’s Holland Village area, saying that conditions for completion of the deal signed by its Wincove unit in March had not been met.
“The… Read More>>
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