Hongkong Land reported higher underlying profit in the first quarter of 2022 compared with year-earlier levels, as a rise in completions from its development pipeline in mainland China offset COVID-led weakness in the group’s office and retail portfolios at home.
Hongkong Land Takes on First Logistics Project with Logos Indonesia JV
Hongkong Land is embarking on its first-ever logistics project by teaming up with its Indonesian sister firm PT Astra International and warehouse specialist Logos Property in a joint venture to develop and manage warehouses in Southeast Asia’s largest economy.
The… Read More>>
Link REIT Buys Hong Kong Auto Facilities, Guangdong Sheds for Combined $865M
Just days after unveiling its acquisition of a trio of retail assets in Sydney, Link REIT has announced the purchase of four more properties in a single day to bring its deal total for the week to nearly $1.26 billion.
Hongkong Land Keeps Calm After Underlying Profit Rose 12% in 2021 1H
Hongkong Land Holdings on Thursday reported a 12 percent year-on-year rise in first-half underlying profit and a narrowing of net losses, as the developer synonymous with Hong Kong’s commercial core continues to muddle through challenging times for commercial landlords.
The… Read More>>
Craig Beattie to Succeed Simon Dixon as Hongkong Land Finance Chief
Blue-chip developer Hongkong Land announced Thursday that chief financial officer Simon Dixon is stepping down from his role at the end of August to return to Australia.
Dixon will be succeeded by Craig Beattie, currently chief financial officer of hotel… Read More>>
Facebook Taps SG Rooftops to Power Data Centre and More Asia Real Estate Headlines
The promise of a greener data centre leads today’s real estate news as Facebook signs a deal that promises to power its Singapore bit barn through solar panels on top of the city’s omnipresent apartment blocks.
Also seeking some sustainability… Read More>>
Mandarin Oriental Hotels Reports $435.5M Loss for 2020 1H
The Mandarin Oriental Hotel Group said late last week that its net loss in the first half of 2020 widened to $435.5 million from $7.1 million over the same period one year ago, as the COVID-19 pandemic shuttered its hotels… Read More>>
HongKong Land Profit Drops 24% as Retail Properties Suffer
Hongkong Land, the biggest landlord in Hong Kong’s Central district, saw its underlying profit drop 24 percent in the first half of this year as retail rent relief, lower shop turnover and slower residential completions dented revenue.
In announcing its… Read More>>
Court Freezes Tianjin Developer Assets and More Asia Real Estate Headlines
Unpaid debt leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a court has frozen assets belonging to a Chinese state-owned developer after it defaulted on RMB 1.7 billion ($240 million) in debt.
Jardine-Backed Yonghui Buys Controlling Stake in Wuhan Retailer for RMB 559M
Jardine Matheson-backed Yonghui Superstores is to become the controlling shareholder in central China regional supermarket chain Zhongbai Holdings Group in a deal valued at RMB 559 million ($83.2 million), according to a Shanghai Stock Exchange filing.
Yonghui is offering RMB… Read More>>