…ays are possible. Read more>> Parkson Posts $2.3M Quarterly Loss, Closes 3 Stores Department store operator Parkson Retail Asia posted a net loss of S$3.1 million ($2.3 million) for the third quarter ended Dec 31, deepening from S$2.2 million a year ago. Revenue for the quarter ticked up marginally by 0.9 per cent to S$112.1 million from S$111.1 million a year ago. Loss per share stood at 0.46 Singapore cent, deepening from a loss of 0.33 cent pre…
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Wumart Owner Emerges Victorious in Battle for Western China Retailer
…tribution submitted by Baoyin was denied by the board since the department store is facing a capital shortage at the present stage. In an interview with the 21st Century Business Herald, Cui Jun said Baoyin has submitted profit distribution applications in the past three years, but had seen all requests denied. Wumart Continues Mainland Retail Expansion While ecommerce has been hogging the headlines in China, Wumei’s network of bricks-and-mortar s…
Investors Said to Balk at Latest Softbank-WeWork Deal and More Asia Real Estate Headlines
…ype retail concept for Asia where the company can test design elements and store features before it opens public stores in Mainland China and beyond. Read more>> Study Shows HK Govt Undercounted Available Land for Development Hong Kong has over 1,500 hectares of brownfield sites but over two-thirds were not chosen by the government for development, according to an urban planning research group. The Liber Research Community said in a new report tha…
ARA REIT Buys Adelaide’s Allianz Centre and More Asia Real Estate HeadlinesÂ
…US Securities and Exchange Commission. Read more>> Starbucks Opens Express Store as Coffee War with Luckin Heats Up Starbucks opened its first Starbucks Now store in Beijing on 12 July, an express retail experience to challenge the growing popularity of Chinese start-up Luckin Coffee. The store integrates Starbucks’ physical and digital customer touchpoints, combining a typical café environment with Mobile Order and Pay and Starbucks Delivers prog…
Savills Leads Brokerage Wins with Greystar Apartment Deal in Shanghai Mingtiandi Broker Battle
…leaseable area of 557 square metres, the art bookshop is the largest MoMa store in Asia and the first in Greater China. Read more>> Savills advised on MoMA’s lease in K11 Musea, the largest MoMA Design Store in Asia Savills has been appointed to sell the Hang Fat Industrial Building at 550-556 Castle Peak Road in Cheung Sha Wan. The 12-storey industrial property, which occupies a site area of 15,837 square feet, comes with permission for a commer…
WeWork Laying Off 2,400 Staff and More Asia Real Estate Headlines
…d senior credit officer. Read more>> Bernard Arnault Spending $1B on Paris Store to Lure Chinese Shoppers Europe’s richest man, Bernard Arnault, is spending $1 billion on renovating a Parisian department store to lure in Chinese shoppers hunting for luxury brands. Arnault, who is the CEO of LVMH, and is worth $101 billion, is hoping the department store will attract Chinese shoppers in search of luxury brands. Read more>> Son of Dalian Wanda Boss…
Thomas Kwok Returns to SHK After Prison Sentence and More Asia Real Estate Headlines
…in Asia. 7Fresh Life is a combination of community restaurant, fresh food store and convenience store, providing more than 3,000 different selected quality fresh items of produce, daily groceries and also ready-to-cook and ready-to-eat food, equipped with an in-store dining area. Read more>> CDL Hospitality Trusts’ Hotel Deals ‘Not Prejudicial’ to Security Holders’ Interests CDL Hospitality Trusts’ two proposed hotel transactions are both on norm…
Warburg Pincus-Backed StorHub Buys Beijing Property from Leroy Merlin
…thwest of Beijing’s downtown area. Public information for the Leroy Merlin store, referred to as the Kexing Branch, shows that it takes up part of the first floor of the three-storey mall and has a total retail area of 9,000 square metres (96,875 square feet). Storhub’s Mike Hagbeck Taking up the majority of the remaining space of the mall, which is about 13 minutes’ walk from the Keyi Road metro station, is an Auchan supermarket. The Chinese divi…
China Aoyuan Unloads Zhuhai Project Stake and More Asia Real Estate Headlines
…treet have completed their acquisition of all of the outstanding shares of Store Capital for $32.25 per share in an all-cash transaction valued at $15 billion, including assumed debt. Store Capital, a REIT focused on single-tenant operational real estate, has investments in more than 3,000 property locations across the US. Read more>> Public Storage Bids for Rival Life Storage in Unsolicited $11B Offer New York-listed Public Storage has made an $1…
China Reportedly Preps Further Property Stimulus and More Asia Real Estate Headlines
…earned, planning to use the money to pay back loans taken out for the purchase. After the transaction is completed, Fortress will sell the land and part of the flagship Seibu department store building in Tokyo’s Ikebukuro district, as well as part of the Sogo Chiba store and Seibu Shibuya store, to Japanese electronics retailer Yodobashi Holdings. Total asset sales will reach just below JPY 300 billion. Read more>> Tune in again soon for more real…
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