ARA Asset Management and Chelsfield Asia have put Lazada’s corporate headquarters up for sale according to market sources familiar with the matter who spoke with Mingtiandi, with the marketing exercise coming almost three years after they picked up the asset… Read More>>
Kerry Bets $716M on Kowloon Project as Rail Line Boosts Neighbourhood
Hong Kong’s To Kwa Wan further cemented its position as a development hotbed this month, with Kerry Properties winning a tender for an Urban Renewal Authority redevelopment project in the Kowloon neighbourhood for HK$5.58 billion ($716.1 million), according to an… Read More>>
S&P Tags Evergrande a Defaulter and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, ratings agency S&P labels China Evergrande a defaulter and withdraws coverage of the group, mainland authorities ramp up support of the property sector by connecting banks with distressed developers, and Hong Kong’s West… Read More>>
JP Morgan, Nuveen Complete $944M Purchase of SG Office Tower From CICT and FWD
JP Morgan Asset Management and Nuveen Real Estate have announced the acquisition of their respective half-stakes in a Singapore office building for $472 million each, confirming a mid-November Mingtiandi report.
The pair of US-based fund managers picked up their partial… Read More>>
Singapore’s CDL Selling Hilton Millennium Seoul Hotel to IGIS for $930M
City Developments Ltd (CDL) is set to sell the Hilton Millennium Hotel in Seoul, along with an adjoining site, to local fund manager IGIS Asset Management for KRW 1.1 trillion ($930 million) as the Singapore-listed developer continues to divest loss-making… Read More>>
Manulife Puts Name on Third HK Tower After Signing City’s Biggest Lease of 2021
Canadian financial services firm Manulife now has a third office tower in Kowloon East bearing its trademarks as PAG’s International Trade Tower has been rebranded under the name of its anchor tenant.
“We are excited to broaden our footprint into… Read More>>
Chinese Developers Slump as Shimao Bonds Plummet and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, fresh concerns materialise over mainland developers as a drop in Shimao Group’s bonds sparks a wider sell-off, Evergrande’s creditors brace for a drawn-out restructuring process, and private equity investors lose their taste for… Read More>>
Founder of Bain-Backed Chindata Leaves Data Centre Platform One Year After IPO
The world’s hottest real estate asset class has scorched institutional investors including Bain Capital, BlackRock and CPPIB as Chindata Group announced late Friday the departure of founder and chief executive Alex Ju Jing, with the Asian data centre platform’s stock… Read More>>
CapitaLand Selling Pair of Sydney Office Assets to Commercial Trust for $472M
Units of Singapore’s CapitaLand group have agreed to sell two office buildings in Sydney to CapitaLand Integrated Commercial Trust for an agreed property value of A$672 million ($472 million), marking the SGX-listed REIT’s maiden entry into Australia and second overseas… Read More>>
Sunshine 100 Adds to Mainland Developer Default Drama with $179M Bond Fail
Sunshine 100 China Holdings Ltd on Sunday became the latest Chinese developer to default on an overseas bond when the Beijing-based builder failed to repay $170 million of principal and $8.93 million of interest on notes due that day.
The… Read More>>
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