Covid-19 has sickened Asia’s property sector as it raises uncertainty and impedes economic activity this year, but one market in the region saw transactions of real estate assets nearly double in the most recent quarter after lockdown restrictions were eased.
Mainland Property Tycoon Loses 31% on Hong Kong Office Sale
A founder of a Hong Kong-listed mainland developer appears to have taken a 30 percent haircut on an office investment in the New Territories as the city’s commercial real estate market continues to slip this year.
A set of three… Read More>>
China’s Central Bank, MOHURD Target Indebted Developers
After loosening the financial reins to boost an economy pummelled by the Covid-19 crisis in February this year, the Chinese government appears to be rolling out new measures to clamp down on flows of capital into the country’s now surging… Read More>>
Allianz Buying Tokyo Apartment Portfolio for $160M
Allianz Real Estate announced today that it has agreed to spend $160 million to add to its portfolio of Japanese apartments on behalf of its APREAP Core 1 Fund.
The property investment unit of the European insurance giant is acquiring… Read More>>
Equinix Spent $252M Buying Singapore, India Data Centres Last Week
As demand for cloud services heats up in Asian markets, data centre developer and operator Equinix has struck a deal to purchase a server facility in Singapore, just days after purchasing a pair of similar properties in India.
In Singapore,… Read More>>
Mitsubishi Estate Logistics REIT Buying Japanese Warehouse Portfolio for JPY 2.8B
Mitsubishi Estate Logistics REIT Investment Corp (MEL REIT) has agreed to buy four logistics facilities across Tokyo, Osaka and Nagoya for JPY 28.4 billion ($266.6 million), and increase its stake in another, as it seeks to tap growing demand for… Read More>>
Alibaba, Tencent, Huatai Lead $3B Investment in Evergrande Spin-Off Pre-IPO
Some of Greater China’s largest investors have agreed to pay a total of HK$23.5 billion ($3 billion) for stakes in China Evergrande’s property management unit ahead of an anticipated IPO in Hong Kong, according to an announcement late last week.
Singapore Office Building Selling for S$500M, 34% Over Valuation
Tuan Sing Holdings has agreed to sell the Robinson Point office building near Singapore’s Raffles Place central business district for S$500 million ($364.2 million), or 34 percent over the property’s book value, notching an above market deal after real estate… Read More>>
Building on Hong Kong’s Nathan Road Retail Strip Sells at 50% Off
A 16-storey building on Kowloon’s bustling Nathan Road commercial strip sold this past week at a 50 percent discount as Hong Kong’s property market continues to slide.
According to local media citing Land Registry records, the Tung Cheong Commercial Building… Read More>>
China Mobile Outbid Local Tycoons by 56% for Hong Kong Data Centre Site
When China Mobile snapped up a New Territories industrial site for HK$5.6 billion ($464 million) at a government auction last month, the mainland telecom giant outbid its closest competitor by nearly 56 percent, according to an announcement by the Lands… Read More>>
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