…ouse Seen Testing Singapore Luxury Market The asking price for a new three-storey Singapore penthouse, complete with a private pool on the 64th floor, has reached a dizzying $72 million. Due to be formally unveiled later this year, Wallich Residence’s penthouse is in the tallest building in Singapore, the island of well-heeled stability that attracts the super-rich from its less-developed Southeast Asian neighbors, as well as multi-millionaires fr…
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McDonald’s Links with Developers for Mainland Expansion and More Asia Real Estate Headlines
…ng deals with the country’s biggest property developers to secure the best store locations in a bid to catch up with the rival KFC franchise. McDonald’s China Co., whose investors include state-backed Citic Ltd. and Citic Capital Partners, has signed a strategic alliance with China Evergrande Group to get the first look at locations in 250 cities, Zhang Yichen, chairman of the Chinese franchisee, said in an interview with Bloomberg News. Read more…
Wanda Beats Out Disney for Gansu Theme Park Deal and More Asia Real Estate Headlines
…eijing hopes you will rent your next home. As always, there’s much more in store if you just read on. Wanda Plans Theme Park in Hardscrabble Gansu Province Dalian Wanda Group will increase investment in Northwest China’s Gansu province — one of the country’s poorest regions — by building a massive cultural tourism project with substantial local government support. Wanda has invested heavily in theme parks and tourist attractions over the past five…
Asia Real Estate People in the News 2017-09-18
…Director, based in Bangkok. DeGalan came on board with the Thai department store-turned-shopping mall giant this month after more than 30 years with Michigan-based retail real estate group Taubman Centers and its APAC affiliate, Taubman Asia. DeGalan has relocated from Hong Kong to Bangkok for his new role, but is not yet giving out details of his new responsibilities with the developer behind Bangkok’s Central World, Central Embassy and other Tha…
Wanda Hits Twin US Setbacks as Culture Chief Quits, Beverly Hills Partner Exits
…in with the mayor of Beverly Hills in sunnier times The US firm, which was originally planning to work with Wanda through the project’s scheduled opening in 2020, said it has already provided services to Wanda through May. The site’s former Robinson’s-May department store has been demolished but construction work has not yet begun. The property-and-entertainment group controlled by Wang Jianlin bought the prime site between Santa Monica and Wilshi…
Wing Tai, CSI Team Up to Buy Site in Hong Kong’s Central for $1.5B
…gle Holdings. In addition, Sino Land submitted a joint bid with department store operator Lifestyle China. The 28,901 square foot (2,685 square metre) Site C of the Peel Street / Graham Street redevelopment scheme is located less than 500 metres west of the Central MTR station. The winning developers are required to preserve the Wing Woo Grocery at 120 Wellington Street, a historical structure within the redevelopment area that was home to a retai…
Sun Hung Kai’s Parc Central Wins Gold at ICSC APAC Awards
…ercial development in Shanghai’s Xuhui district. The ICSC Asia Pacific Shopping Center Awards are held annually to recognise excellence in marketing, design and evelopment of retail properties and retail store design in the region. Also winning at this year’s event was US developer Taubman Asia, which took home a gold award in the marketing category for its CityOn.Zhengzhou project….
Topshop Notches 50% Rent Cut as HK Gets Retail Reality Check
…in the city as other fashion brands surrender locations or downsize their stores. Last month Swatch took over a pair of underground shops in the Central Building on Pedder Street in Central for around HK$350 per square foot per month, after Hugo Boss surrendered the shops mid-way through its lease. The German clothier had been paying more than double the rate that Swatch agreed to since signing its lease in 2014. Luxury Brands Cut Rents or Surren…
New World Keeps Shanghai Complex in the Family with $278M Sale
…l be used as general working capital of the Group.” Opened in 2003, the 38-storey, 605-room New World Shanghai Hotel within the same complex is one of the largest hospitality properties in the city, spanning 46,942 square metres. The neighbouring 258-key Pentahotel Shanghai, launched in 2010, is marketed as a hip business hotel and has a footprint of 13,353 square metres. New World points out that the combined assets being sold have an unaudited c…
CapitaLand Opens Its Biggest Mall Ever in Suzhou
…apitaLand is the co-owner and co-developer of the shopping mall and two 21-storey office towers, which opened in the third quarter, through its wholly owned subsidiary CapitaLand Mall Asia. The partners broke ground on the mall in 2012. CapitaLand Opens Biggest Mall To Date Over 400,000 shoppers showed up on grand opening day, according to CapitaLand “The opening of Suzhou Center Mall, an architectural masterpiece that is also our largest and most…
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