Oyo Hotels has cut its China staff by more than 72 percent since late 2019, according to a local news report last week, as the Softbank-backed company struggles to reach profitability less than one year after declaring itself the world’s… Read More>>
CBRE GI Closes Fifth APAC Value-Add Fund at $900M
CBRE Global Investors has closed the fifth iteration of its pan-Asia value-add fund series at a hard cap of $900 million — around 10 percent less than what it achieved for the fourth edition of the strategy – according to… Read More>>
Savills Leads Asia Brokerage Wins with HK$790M Hong Kong Office Deal Mingtiandi Broker Battle
Savills tops Mingtiandi’s deal charts for the second time running with the property consultancy reported to brokered the HK$790 million ($101 million) sale of an office redevelopment project in Hong Kong’s Cheung Sha Wan area on behalf of consumer goods… Read More>>
Hongkong Land Posts 4% Rise in Profit, Warns of Virus Hit for 2020
Hongkong Land, the biggest landlord in Hong Kong’s Central district, saw its underlying profit rise to a record $1.1 billion last year, but warned this month that the coronavirus outbreak would hit the firm’s business in 2020.
The division of… Read More>>
Allianz Real Estate Grew Asia Pacific Assets 83% in 2019 to €5.5B
Allianz Real Estate grew its Asia Pacific portfolio by 83 percent last year, as the property investment arm of the European insurance giant ramped up its assets under management in the region to €5.5 billion ($6.1 billion).
“Our success in… Read More>>
SC Capital Buys Aussie Office From BlackRock for A$127M
SC Capital Partners has purchased an office building in North Sydney from BlackRock for A$127 million ($83 million), as the Singapore-based private equity shop adds another Aussie asset to its portfolio.
Thai financier Suchad Chiaranussati’s firm said that it had… Read More>>
Warburg Pincus-Backed Kailong Promotes Don Tan to Managing Director
Kailong Real Estate Investment has promoted Don Tan to managing director of fund management, just three months after the private equity firm reached a final close of $575 million on its second US-dollar denominated, China-focused property fund.
Based in Kailong’s… Read More>>
Hainan Officials Take the Controls as HNA Sends Distress Call
The Hainan government has moved to take direct control of HNA Group with the appointment of two state officials to leadership roles on the company’s board, according to announcements over the weekend by the financially troubled aviation and investment conglomerate.
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>>
ARA-QuadReal JV Confirms First Aussie Office Acquisition
ARA Asset Management together with the property arm of British Columbia Investment Management today announced their acquisition of a Melbourne office development valued at A$330 million ($218 million), confirming a Mingtiandi report from earlier this month.
In a joint statement,… Read More>>
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