In today’s roundup of regional news headlines, a billionaire property tycoon urges an end to Hong Kong’s onerous travel restrictions, Singapore’s Lian Beng looks to unload a Joo Chiat commercial property, and SGX-listed Cromwell E-REIT sells some industrial assets.
Wheelock Closes in on $2.5B Residential Project in Kowloon Bay
Wheelock Properties is taking final steps toward building a HK$20 billion ($2.5 billion) residential project in Hong Kong’s Kowloon Bay, having reportedly submitted an application to redevelop an industrial property in the area into 1,782 new homes.
The developer controlled… Read More>>
Wheelock Acquires Site in Hong Kong’s Soho for $127M Residential Project
Wheelock Properties has acquired its second site on Hong Kong Island in two months, having won full ownership of three ageing buildings in the city’s Central district through a compulsory sale, according to sources familiar with the deal.
The acquisition… Read More>>
Wheelock Lines Up $254M Commercial Project in Hong Kong’s Wong Chuk Hang
Wheelock Properties could be on its way towards developing a HK$2 billion ($254.7 million) commercial project on Hong Kong Island, after having applied for a compulsory sale this month to acquire the remaining pieces of an aging industrial building in… Read More>>
Wheelock Lines Up Hong Kong Luxury Site with Happy Valley Compulsory Sale
Wheelock Properties is on its way toward developing another luxury project on Hong Kong Island, having gained approval for a compulsory sale of Ventris Court, a residential tower in the Happy Valley area valued at HK$1.73 billion ($222.4 million), according… Read More>>
China Resources-Led Group Buying Hong Kong Supermarket Chain for $300M
China Resources Capital Management, the alternative investments arm of China’s state-owned conglomerate China Resources Holdings, said Thursday it and partner Asia Food Growth Fund have signed an agreement to buy a 65 percent stake in Hong Kong-based high-end supermarket chain… Read More>>
Billionaire Bids HK$48B to Privatise HK Developer Wheelock
Hong Kong property billionaire Peter Woo is offering to take Hong Kong-listed Wheelock & Company private in a deal worth just under HK$48 billion ($6.2 billion), according to a stock exchange filing.
Woo, whose family controls the 93-year-old firm chaired… Read More>>
Mirae Closes in on $5.5B Anbang Luxury Hotel Portfolio and More Asia Real Estate Headlines
Trophy assets lead the way in Mingtiandi’s roundup of real estate headlines today with the news that a South Korean group now leads the pursuit of a troubled insurer’s luxury hotel portfolio, with the offer said to be in the… Read More>>
Seven of Hong Kong’s Ten Richest People are Real Estate Developers and They Own Half the City
Seven of Hong Kong’s ten wealthiest people and almost half of the city’s top billionaires made their fortunes in real estate, according to the latest annual ranking of the city’s 50 richest people by Forbes.
Thanks to a roaring real… Read More>>