GIC has sold its 50 percent interest in Westquay for £135 million ($174 million), or nearly 55 percent less than what the Singapore sovereign fund paid for the half-stake in the southern England mall more than seven years ago.
The… Read More>>
GIC Sells Half-Stake in Perth Mall to Hong Kong’s JY Group for $133M
Singapore sovereign fund GIC has completed the sale of its 50 percent interest in a Western Australia mall to Hong Kong investor JY Group for A$195 million ($132.8 million).
The half-stake in Westfield Whitford City marks JY’s first joint venture… Read More>>
Alibaba-Backed Red Star Macalline Being Bought Out by Xiamen SOE
A Chinese state-controlled conglomerate has agreed to buy what could be a controlling stake in Red Star Macalline Group Corporation, an Alibaba-backed home improvement mall chain, as government firms continue to bail out China’s flailing private real estate sector.
Shanghai-listed… Read More>>
Alibaba-Backed Red Star Macalline in Talks to Sell Controlling Stake to Xiamen SOE
Less than four months after having its credit rating withdrawn by Fitch Ratings, Alibaba-backed home furnishing mall operator Red Star Macalline Group Corporation is in talks to sell what could be a controlling stake in the company to Chinese state-controlled… Read More>>
Link REIT Buying Mercatus Malls for $1.6B in Singapore’s Biggest Deal of 2022
Hong Kong’s Link REIT is entering Singapore with a bang as it records the city’s largest real estate acquisition this year with a S$2.16 billion ($1.6 billion) purchase of a pair of suburban malls from Mercatus Co-operative Ltd, according to… Read More>>
Swire Buying Out Sino-Ocean’s Half-Stake in Chengdu Mall for $800M
Swire Properties is taking full ownership of a Chengdu mall through a deal to buy out Sino-Ocean Group’s interest in the 50:50 joint venture for RMB 5.55 billion ($800 million), as the mainland partner in the development grapples with a… Read More>>
SHKP Wins Kowloon East Commercial Site for $38M
Sun Hung Kai Properties has bested three competing bidders to win a tender for a retail site in Hong Kong’s Kowloon East, at a price more than 50 percent less per square foot than what Link REIT paid in late… Read More>>
GIC Forms $412M US Shopping Centre JV With NYSE-Listed RPT Realty
Singapore’s sovereign wealth fund, GIC, has established a $412.4 million shopping centre joint venture with New York Stock Exchange-listed RPT Realty, according an announcement by the US real estate investment trust this week.
The $100 billion government investment vehicle is… Read More>>
CapitaLand Sells Star Vista Mall to Singapore Megachurch for S$296M
CapitaLand has announced that it is selling a shopping mall for S$296 million ($217 million) to a Singapore megachurch that generated S$143 million in income last year and is led by one of the world’s richest pastors.
The Singapore-listed developer… Read More>>
CLSA, Morgan Stanley Vet Kevin Kow Joins Warburg Pincus Indonesia Venture
Warburg Pincus-backed Indonesian shopping mall developer NWP Retail announced on Tuesday that it had appointed former CLSA and Morgan Stanley executive Kevin Kow as its new chief investment officer.
In his new role, Kow, who is said to have been… Read More>>
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