In their 18th asset sale over the last six months, the family of Hong Kong’s late “Shop King” Tang Shing Bor has sold a senior home in Kowloon City at a loss of HK$160 million ($20.3 million), according to local… Read More>>
CapitaLand’s Ascott Buying Oakwood Serviced Apartment Business From Mapletree
Singapore’s The Ascott Ltd is buying serviced residence provider Oakwood Worldwide from Mapletree Investments for an undisclosed amount in a move that would boost its management portfolio by 11 percent with the addition of 81 accommodations globally, the firm announced… Read More>>
Softbank’s Fortress Targets Department Stores and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, a Softbank-owned investment firm is reportedly seeking to buy Japanese department store Sogo & Seibu, an acquisition deal for Singapore’s Sime Darby Business Centre collapses, and the fate of a crypto investor’s luxury… Read More>>
China’s Agile Gets Mezzanine Loan From Hong Kong Tycoons at 20%
China’s 28th-largest developer is borrowing money at credit card interest rates as it struggles with declining sales and $1.16 billion in bond obligations due in the second half of this year.
Guangzhou-based Agile Group informed the Hong Kong exchange late… Read More>>
Frasers’ FLCT Buying UK Logistics Development From Stoford for $124M
Frasers Logistics & Commercial Trust has agreed to acquire a logistics project in northwestern England for £101 million ($124 million), marking the Singapore-listed REIT’s fourth industrial investment in the UK.
FLCT is buying the property at Ellesmere Port in the… Read More>>
Logos, Sime Darby Reach First Closing of $250M Malaysia Development Fund
A joint venture of Logos and Sime Darby Property has achieved a first closing of its investment vehicle targeting development of logistics assets in Malaysia after securing 70 percent in capital commitments for a fund size of up to $250… Read More>>
Evergrande Hit With Winding-Up Petition and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, debt-stricken China Evergrande faces a winding-up petition in the Hong Kong high court, the Cheng family behind New World Development launches a buyout bid for fashion retailer Giordano, and Swedish clothier H&M closes… Read More>>
Lendlease, PGGM Form $780M APAC Innovation, Life Science Real Estate JV
Australian developer Lendlease has teamed up with Dutch pension fund and asset manager PGGM in a S$1 billion ($720 million) strategy that will invest in innovation and life science properties across Australia, Japan and Singapore, according to a joint announcement… Read More>>
Site in Hong Kong’s Wan Chai Draws 21 Bids for $382M Residential Project
The first government tender of a residential project in Hong Kong’s Wan Chai area in eight years closed on Friday with a flock of developers entering bids for the chance to develop housing worth nearly HK$3 billion ($382 million) on… Read More>>
Jingrui Defaults on Four Offshore Bonds, Citing Lockdown-Induced Liquidity Crunch
Jingrui Holdings has failed to make on-time interest payments on four sets of offshore bonds, with the developer blaming the defaults on the impact of China’s COVID-19 lockdown measures in the group’s home base of Shanghai and other key cities.
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