Having earlier this month charged former Van Thinh Phat boss Truong My Lan and 85 co-defendants with embezzling VND 304 trillion ($12 billion), Vietnamese authorities now say they are tracking the company’s laundering of its ill-gotten cash through real estate… Read More>>
Singapore Rolls Out Biggest Industrial Land Sale Plan in a Decade, Despite Dim Demand
Singapore is set to auction off 29 percent more industrial land in the first half of 2024 in its biggest offering of shed sites in a decade, although experts anticipate tepid bidding amid a slowing market.
In releasing its sale… Read More>>
Taeyoung Selling Stake in KKR JV in Restructuring and More Asia Real Estate Headlines
Distress in Korea’s property market leads Mingtiandi’s first headline roundup of 2024, with the parent of one of the country’s largest construction firms filing a debt workout plan. Also in the news, the Guangzhou city government is getting… Read More>>
Overseas Chinese Town Sells Shanghai Bulgari Hotel for $344M
State-owned mainland developer Overseas Chinese Town (OCT) has agreed to sell the Bulgari Hotel in Shanghai, as the indebted builder offloads an unprofitable project amidst plummeting revenues and a slow recovery in China’s tourism market.
Building materials maker Jiangsu Jinfeng… Read More>>
Alyssa Partners, Dai-Ichi Life Buy $140M in Japanese Rental Apartments
After acquiring Japanese properties with some of the largest investors from Europe and North America, investment manager Alyssa Partners has teamed up with Japan’s third largest insurer to buy a portfolio of Japanese rental apartments with market sources indicating the… Read More>>
SBI’s Nippon REIT Buying Four Assets for $40M, Offloading Nagoya Apartments
Nippon REIT will buy four properties in Tokyo, Nagoya and Sendai for a total of JPY 5.65 billion ($40 million) and sell a separate Nagoya asset for JPY 835 million ($5.9 million), the TSE-listed trust announced Thursday.
The top completed… Read More>>
CDL Warns of Substantial Drop in Annual Profit After Posting Record Numbers in 2022
City Developments Ltd (CDL) has warned investors about a “substantial” annual drop in its profit for full-year 2023 as the Singapore property heavyweight faces rising borrowing costs and slowing asset divestments.
CDL late Thursday issued a statement indicating that it… Read More>>
Mercatus Said Selling Singapore Retail Assets and More Asia Real Estate Headlines
One year after selling off a portfolio of shopping centres to Link REIT, Singapore’s Mercatus is said to be selling off a set of shops, with that story leading Mingtiandi’s holiday headline roundup. Also making the list on Santa’s big… Read More>>
Warburg Pincus Adds Korea Logistics Portfolio to APAC Real Estate Strategy
Warburg Pincus is expanding its bets on Asia’s shed sector with the US private equity firm today announcing an investment in a South Korea industrial joint venture under its Asia Pacific real estate strategy.
The New York-based titan, which has… Read More>>
CapitaLand Ascott Trust Selling Osaka Hotels to Alyssa-Managed Fund for $75M
CapitaLand Ascott Trust announced on Sunday that it will divest three hotels in Osaka for JPY 10.7 billion ($75 million) as part of what the Singapore-listed REIT described as a portfolio reconstitution effort.
CLAS said in a press release that… Read More>>
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