…her new job this month after two years with another US start-up venture – online razor provider Harry’s. In her previous role, Toh, who also formerly served with the retail division of Savills in Singapore, started as the Real Estate Manager before becoming Director of Business Development with the Internet shaving store. Henkey Lai has been promoted to Assistant Manager with the investment team at Savills in Hong Kong. The graduate of Hong Kong…
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GIC Bets on a Bigger Swamp with $1.1 Bil DC Office Deal
…quare foot grade A office complex built around a former Hecht’s department store on E Street between 6th and 7th Street in the district’s Penn Quarter. That investment is being made alongside an existing Beacon-sponsored fund. Trump Debut Fuels Lobbying Boom After the number of registered lobbyists fell from 14,822 in 2007 to 11,143 in 2016, demand for office space around DC had slackened. However, things seem to be changing under the new administ…
Blackstone Boss Predicts New China Views for Trump and More Asia Real Estate Headlines
…etail markets on the mainland. As the Hong Kong franchisee of the Japanese store, Lifestyle International spun off its mainland Chinese businesses last July, including department stores and its high-end Jiuguang shopping malls, which saw an annual revenue decline of 4.6% last year. Read more>> China’s Capital Controls Could Bring Big Trouble for Malaysia China’s aggressive crackdown on capital flight could lead to a surge in abandoned projects in…
Asia Real Estate People in the News 2017-03-20
…Exchange-listed education provider after more than six years looking after store expansion programs for Hong Kong restaurant group Maxim’s. In his new role, the Guangzhou University graduate will be charged with identifying and evaluating new sites and other development opportunities for the 14-year-old Beijing-based corporation. Anson Tong has been promoted to Director of ecommerce at Shanghai-based co-working provider We+. Tong’s new role comes…
Keppel Land Takes Control of Saigon Centre and More Asia Real Estate Headlines
…nvolved in the sector, in late February Shenzhen-listed Kunming Department Store spent 6.18 billion yuan (US$895 million) on a 94 per cent stake in property agency Weiye 5i5j Group, via a share swap and with cash, with the remaining 6 per cent stake for 378 million yuan in a share transfer deal. Read more>> China Now Has 100 Cities Over 1 Million People China now has more than 100 cities of over 1 million residents, a number that is likely to doub…
Savills IM Notches $68M in Aussie Deals for APAC Fund With Brisbane Mall Acquisition
…re metres of net lettable area, and is anchored by a Woolworths department store and by quarters of the Queensland government. Those two tenants together account for 65 percent of the property’s income, according to a statement from the investment manager. Brisbane Mall Added to Perth Apartments This latest purchase brings Savills IM’s recent Australian investment total to A$90 million ($68 million) after the company bought a serviced apartment co…
Malaysian Fund Sells Sydney Asset to HK Investor for A$340M and More Asia Real Estate Headlines
…local company Wi!d Rice, supermarket chain FairPrice Finest and a flagship store by local designer Carolyn Kan. These are some of the latest anchor tenants at Funan, announced by its owner CapitaLand Mall Trust yesterday. The mall, previously known for being a hub for IT products, will have an entire floor dedicated to technology. The retail mall will have 200 shops over six storeys, and is targeted for completion in the fourth quarter of 2019. Re…
Wing Tai Bids $68M to Privatise Malaysian Unit and More Asia Real Estate Headlines
…erties initiated its bold HK$2 billion, seven-year asset enhancement plan in 2012, just as the retail market entered a lengthy correction at home, and in the mainland, luxury retailers were hit hard by an anti-corruption crackdown by Chinese leaders. High levels of store vacancies and closures became commonplace, with some top brands postponing their expansions, or scaling back their existing operations. Read more>> Tune in again tomorrow for more…
Nan Fung Makes Hong Kong’s Biggest Land Buy Ever With $3.2B Kai Tak Bid
…lio of high end residential projects in Hong Kong, finished work on the 28-storey Octa Tower, one of the earliest of a new generation of Grade A commercial buildings in the Kowloon East neighborhood. The privately held developer’s Kowloon purchase comes just over two weeks after a joint bid by mainland home builders KWG Property Holdings and Longfor Properties beat 15 rivals to win a residential site in the Kai Tak area for HK$7.3 billion ($938 mi…
Oceanwide Buys Historic SF Building as Add-On to $1.6B First & Mission Project
…plans conceived by British studio Foster + Partners include a 625-foot, 54-storey residential and hotel tower which will be paired with a 910-foot residential and office tower. The 61-storey latter tower will be the city’s tallest building after the Salesforce Tower — an office skyscraper just a block away that is slated for completion this year. Oceanwide Can’t Get Enough US Real Estate The developer, part of the Oceanwide Holdings conglomerate c…
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