…a to Halve Starbucks is expecting significantly lower sales in its Chinese stores in the second quarter because of the coronavirus. In February, sales at stores open at least 13 months in China dropped 78 percent compared to the prior year because of temporary store closures, reduced hours of operation and a sharp decline in customer traffic, CEO Kevin Johnson and CFO Patrick Grismer noted in a letter to stakeholders. Read more>> Singapore HDB Hom…
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SG’s Fragrance Group Buys Aussie Hotel Project and More Asia Real Estate Headlines
…port Waterfront Hotel, to be built on the site of the former Harris Scarfe store on Best Street, overlooking the Mersey River. Read more>> CK Hutchison Profit Edges Up 2%, CK Asset Profit Jumps 19% CK Group core unit CK Hutchison Holdings, which spans businesses including retail, telecoms, ports, energy and infrastructure globally, saw its net profit rise 2 percent to HK$39.83 billion ($5.13 billion) for 2019, falling short of analysts’ estimates…
SG Hotel Revenues Plunge 40% in February and More Asia Real Estate Headlines
…). Read more>> Sam’s Club to Launch in China Sam’s Club, a members only warehouse retailer owned by US retail giant Walmart, is set to open a flagship in Shanghai. The 70,000 square metre (753,473 square foot) Waigaoqiao Xin Development Park-based store will be Sam’s Club’s third location in the city and will bolster competition against rival Costco. Read more>> Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or…
HK’s Button Capital Buys US Project for $63.5M and More Asia Real Estate Headlines
…the shop owners on Friday sat or knelt outside the Grand Ocean Department Store, wearing masks and holding placards as police monitored. A day earlier, they chanted “Exempt rental for a year, or refund the lease” in videos uploaded on the Chinese social media platform Sina Weibo that were quickly censored. Read more>> PE Firm Century Bridge Invests in Zhejiang Residential Project Century Bridge Capital announced that it has invested in a middle-i…
Causeway Bay Commercial Site Put on the Market for HK$1B in Hong Kong
…ng for CBRE, which is the sole agent for the en-bloc sale. The current six-storey retail building, which is one shop along from high-end department store Sogo and just opposite luxury mall Hysan Place, is being marketed by the property consultancy as an opportunity to redevelop the 999-year leasehold chunk of land. Selling a Rare Prize in Causeway Bay Occupying a site area of 2,000 square feet (186 square metres) zoned for commercial use, Yan expe…
HK Hotels Closing as Over 90% Run Losses and More Asia Real Estate Headlines Â
…irectors, IPO underwriters and others. Read more>> SPH Selling Convenience Store Chain Buzz Singapore Press Holdings (SPH) on Monday (Apr 27) announced it would be divesting wholly owned subsidiary Buzz Shop to Thai-Pore Enterprise for an undisclosed amount. “This divestment of a non-core business will sharpen SPH Group’s strategic focus on its main business segments of media, retail real estate, purpose-built student accommodation and aged care,”…
Covid-19 Crisis Boosts Leaseback Deals in Asia Pacific
…than foreign corporates, with the notion of owning a facility being a good store of worth,” explains Stuart Crow, CEO for Capital Markets at JLL Asia Pacific. “The crisis will provide some impetus for corporates to sell assets and focus on their core businesses, and this will create a new avenue for real estate investors and fund managers.” Stuart Crow, CEO Capital Markets, Asia Pacific, JLL Already this year JLL were reported to assist German sup…
Scape Seals A$2B Aussie Student Digs Deal and More Asia Real Estate Headlines
…eibo it will use the funds to upgrade digital infrastructure and open more stores in China. The company said it would expand store numbers in China from 50 now to 1,500. Read more>> Amazon Said in Talks to Buy Out Wanda’s AMC Cinemas While neither company is currently acknowledging the speculation, AMC’s stock is tearing higher today as traders on Wall Street consider that Amazon may still be interested in buying the beleaguered theatrical exhibit…
Eagle Hospitality Trust Manager Investigated and More Asia Real Estate HeadlinesÂ
…has applied for automatic liquidation, local media reported. More than 10 stores will close and over 60 employees will be disbanded, the reports said. The Greek retailer operates a network of stores in the mainland, Hong Kong, Taiwan and Japan. Read more>> Harvey Nichols Owner Warns of Bleak Future for Hong Kong Dickson Concepts, a Hong Kong luxury goods retailer and owner of department store Harvey Nichols, warned of “the most challenging market…
AXA IM Buys Daiwa House Residential Complex in Nagoya for JPY 20B
…d not release the name of the project vendor, Royal Parks ER Sasashima was originally developed by Japan’s Daiwa House, the country’s largest homebuilder, which completed the 46,068 square metre structure in 2015. At the transaction price, the buyer is paying the equivalent of JPY 434,141 per square metre for the asset. Current listings for rental apartments in the project offer homes for around JPY 3,213 per square metre per month. Located within…
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