Singapore sovereign fund GIC has upped its bets on China retail, taking advantage of distress in the mainland market to take near-total ownership of a Shanghai mall in a deal that values the property at RMB 820 million ($115.6 million),… Read More>>
Singapore’s GIC Adds to Japan Shed Portfolio With Yokohama Buy
Singapore’s GIC has reprised one of its favourite investment themes of 2023, with the sovereign fund picking up a Yokohama warehouse built by Daiwa House Industry after buying nine assets developed by the Japanese giant last year.
Regarded as Daiwa… Read More>>
GIC Backs $3.9B TPG Debt Fund and More Asia Real Estate Headlines
TPG’s Twin Brook Capital Partners leads Mingtiandi’s headline roundup today, as the private equity firm closes its $3.9 billion direct lending fund backed by GIC and the World Bank. Also making news, Singapore-listed CapitaLand Ascott Trust secures a $124.5 million… Read More>>
GIC Returns Fall to 10-Year Low as Real Estate Allocation Holds Steady
Singapore’s GIC saw its investment performance fall to a more than 10-year low during the year ending 31 March, with a report released by the sovereign wealth fund showing its annualised rate of return over the past two decades dropping… Read More>>
Asia Real Estate People in the News 2024-07-15
Asia’s investment centre of gravity continues to shift toward Japan this week with one of the biggest US fund managers naming a new country head for Asia’s second largest economy. With that item leading Mingtiandi’s roundup of personnel moves from… Read More>>
Vanke Sells 48% Stake in Shanghai Mall to GIC, Expects Half-Year Loss of Up To $1.2B
China Vanke has sold a 48 percent stake in Shanghai’s largest single-building shopping mall to partner GIC, as the cash-strapped mainland developer continues to sell off assets to ease its RMB 322 billion ($44.5 billion) debt burden.
Online corporate registry… Read More>>
Country Garden’s Home Sales Slump Persists and More Asia Real Estate Headlines
Distressed Country Garden leads Mingtiandi’s headline roundup today as the developer’s home sales continue to slump while China Vanke’s recent growth stalls. Australia’s AirTrunk also makes the news as the operator aims to expand its data centre campus in Melbourne… Read More>>
KKR Acquires Controlling Stake in Indian Hospital Chain and More Asia Real Estate Headlines
KKR leads Mingtiandi’s headline roundup today as the global investment firm acquires a controlling stake in an Indian hospital chain, Baby Memorial Hospital. Also making the list, Hong Kong’s property sales sink again in June and Metro Pacific and GIC… Read More>>
GIC Takes 62% Haircut on Sale of Stake in UK Megamall to Landsec for $152M
GIC has sold its 17.5 percent stake in the UK’s fifth largest mall to London-based developer and property investor Land Securities Group (Landsec) for £120 million ($152 million), with the Singaporean sovereign fund taking a 62 percent haircut on its… Read More>>
Singapore’s GIC Teams With Aussie REIT for $179M Self-Storage JV
Singaporean sovereign fund GIC is setting up a joint venture with an Australia-listed REIT to pursue the development and operation of self-storage centres Down Under.
GIC and National Storage REIT plan to deploy A$270 million ($178.7 million) in total capital… Read More>>
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