A Chicago office block leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a South Korean investor is offloading the 31-storey property for $225 million – just $7 million more than its acquisition… Read More>>
First Group Acquires Kowloon’s Centennial Building for HK$790M
Hong Kong developer First Group Holdings has signed a sale and purchase agreement to acquire a commercial site in New Kowloon for a reported HK$790 million ($102 million), as the firm tries to follow up on earlier successes in the… Read More>>
Hongkong Land Posts 4% Rise in Profit, Warns of Virus Hit for 2020
Hongkong Land, the biggest landlord in Hong Kong’s Central district, saw its underlying profit rise to a record $1.1 billion last year, but warned this month that the coronavirus outbreak would hit the firm’s business in 2020.
The division of… Read More>>
Hong Kong Developers Cut Condo Launches 93% as Demand Disappears
Developers are holding off from launching new residential projects in Hong Kong amid a property slump in the Asian financial hub that has been exacerbated by the coronavirus outbreak, according to JLL.
The property consultancy said that developers added just… Read More>>
Oyo Said Cutting 60% of China Workforce and More Asia Real Estate Headlines
A Softbank-backed hotel platform leads the way in Mingtiandi’s roundup of Asia real estate headlines today with a report that the Indian firm plans to cut 60 percent of its workforce in China.
In other news around the region, a… Read More>>
SHK Hotel Business Takes a Beating and More Asia Real Estate Headlines
Hong Kong’s biggest developer by value leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the company’s hotels business took a pounding in the second half of last year, with the group’s chairman… Read More>>
New World Sells Stakes in Hong Kong Malls to MTR for HK$3B
New World Development has sold its ownership interest in a pair of mid-market Hong Kong community malls to MTR Corporation for HK$3 billion ($380 million), according to a company announcement.
The developer said that it was disposing of its 50… Read More>>
ARA, Logos Deal Gets Green Light and More Asia Real Estate Headlines
Logistics leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that Singapore’s competition watchdog has given the go-ahead for the proposed merger of ARA Asset Management’s logistics business into the operations of a leading… Read More>>
Virus Drives Office Vacancy in HK’s Central District to Highest Level Since 2014
Adding illness to injury, the coronavirus outbreak has brought vacancy in the world’s most expensive office location to its highest level in over five years, according to a report this week from JLL.
The property consultancy said that vacancy rates… Read More>>
Developers Scramble for Cash as Virus Hits Cashflow and More Asia Real Estate Headlines
Stalling home sales lead the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that mainland developers are scrambling for cash in a liquidity crunch triggered by the coronavirus outbreak.
In other news around… Read More>>
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