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.
ADIA Launches $590M India Office Fund With Kotak and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, the Abu Dhabi Investment Authority creates an office platform with India’s Kotak Investment Advisors, Beijing instructs Hong Kong’s new leader to tackle the city’s housing issues, and a developer expresses interest in Singapore’s… Read More>>
Singapore’s Frasers Property Makes $970M Buyout Offer for Hospitality Trust
Frasers Property is proposing to take SGX-listed Frasers Hospitality Trust private in an all-cash deal that values the REIT at S$1.35 billion ($970 million), according to a joint announcement on Monday, as the hospitality sector continues to face headwinds.
Also… Read More>>
PwC Walks Away From Jingrui Audit Role Citing Murky Bank Deposits
Jingrui Holdings has joined the growing list of Chinese developers cutting ties with their auditors, with the company announcing that Big Four accounting firm PwC exited the role late last month.
At the request of Jingrui’s board, PricewaterhouseCoopers resigned as… Read More>>
Goodman Sells 3 Melbourne Industrial Properties to Singapore’s FLCT for $42M
Frasers Logistics & Commercial Trust has agreed to acquire three newly completed industrial properties near Melbourne for A$61 million ($42.5 million), as the REIT continues to spend cash obtained from the disposal of a Singapore commercial complex earlier this year.
Floor in Singapore’s Suntec City Sells for Record Price and More Asia Real Estate Headlines
Singapore’s return to normalcy may be paying dividends for owners of office assets, with news reports today showing that a full floor in Suntec City has changed hands at a record high price. Also in the news, Angelo Gordon is… Read More>>
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