An apartment on Hong Kong’s posh Victoria Peak sold last week for HK$583.2 million ($74.8 million), as bullish sentiment continues to sustain luxury home prices in the world’s most expensive housing market despite the COVID-19 pandemic entering its third year.
Temasek-Backed Tikehau Capital Files for Pegasus Asia SPAC in Singapore
The boom in blank-cheque companies may look like a bust in New York, but the pre-packaged investment arrangements look set for a second act in Southeast Asia as two Temasek Holdings-backed firms prepare to launch Singapore-listed SPACs, including one with… Read More>>
Singapore Real Estate Investment Could Drop by One-Fifth in 2022
Investment in Singapore’s real estate market is projected to drop by up to 22 percent this year after the city-state notched S$25.8 billion ($19 billion) in total deals in 2021, as the impact of residential cooling measures kicks in and… Read More>>
Country Garden China’s Top Developer for 2021 After Evergrande Sales Fall 39%
A second-half plunge knocked China Evergrande from its perch as China’s top developer by contracted sales in 2021, enabling rival Country Garden Holdings to seize the No.1 spot despite a lacklustre performance.
Shenzhen-based Evergrande, the world’s most indebted developer, had… Read More>>
Mapletree REIT Merger Plan Prompts Moody’s Credit Review
Less than a week after Mapletree Investments proposed to merge two of its commercial REITs, Moody’s Investors Service has placed Mapletree Commercial Trust under review for a potential credit rating downgrade as MCT’s Temasek Holdings-backed sponsor works to sell the… Read More>>
Kerry Buys Piece of Central Shanghai Megaproject Site for $2.1B
Hong Kong-listed developer Kerry Properties on Tuesday revealed details of a supersized mixed-use project in Shanghai’s central Huangpu district after acquiring the land use rights to a set of four development plots for RMB 13.3 billion ($2.1 billion).
Kerry, which… Read More>>
Amazon Wins Round in India Retail Battle with Future Group, Reliance
Delhi’s top court has rejected a plea from a retail unit of billionaire Kishore Biyani’s Future Group to quash Singapore arbitration proceedings filed by e-commerce giant Amazon, dashing the troubled Indian retailer’s hopes to overturn a case that… Read More>>
Evergrande Says Hainan Demolition Order Applies ‘Only to 39 Buildings’
China Evergrande Group on Tuesday confirmed earlier accounts that Hainan officials had ordered the debt-saddled developer to demolish several dozen buildings at its Ocean Flower Island resort megaproject in the province.
In a filing with the Hong Kong stock exchange,… Read More>>
Sunac Services Scraps $360M Acquisition of Modern Land Property Management Unit
Mainland developer Sunac China Holdings’ property management unit has terminated an October deal to acquire a services affiliate of competitor Modern Land, which announced a large offshore debt default less than 20 days after the preliminary agreement was struck.
Hong… Read More>>
Mapletree Proposes $3.13B Merger of Singapore, North Asia Commercial REITs
Mapletree Investments is proposing to merge Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) in a S$4.22 billion ($3.13 billion) deal which would create Asia’s seventh-largest REIT.
If shareholders approve, the merger would establish Mapletree Pan Asia… Read More>>
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