…engthen our focus on logistics and last-mile connectivity with the booming online consumption in the country,” said Anand Iyer, vice president at MSREI India. “Hence our focus to develop a top-class warehousing park in one of the strongest logistics clusters in the country.” Growing Shed Cluster Mumbai-based Prakhhyat Group will act as development manager and take responsibility for project execution, leasing and asset management at One K-Square….
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Country Garden Seeks Grace Period for RMB Bond and More Asia Real Estate Headlines
…China bought a villa in Shanghai for RMB 285.5 million ($39 million) in an online auction, scooping up one of the city’s most expensive homes for less than its appraised value. The winning bid was about 10 percent lower than the RMB 316.4 million appraised value for the 1,300 square metre (14,000 square foot) property in Pudong district, according to records on Taobao. The villa was sold on Alibaba Group’s auction site after its previous owner fai…
Mingtiandi Forum to Explore Impact of AI on APAC Data Centres
…data centre investments driven by the region’s favourable demographics and online development. In the Southeast Asia session on 12 September, Mingtiandi will speak with Zhang Yi, joint venture director for Asia Pacific at EdgeConneX; Si Pei Lee, business development manager for data centres at French energy specialist ENGIE Southeast Asia; and Ai Leen Tang, a partner with Baker McKenzie member firm Wong & Partners in Malaysia. Japan, Korea and Mor…
Chairman Makes Takeover Bid for China’s Fang Property Portal at 210% Premium
…ngine for residential listings. He built the business into China’s largest online real estate platform, but it was eclipsed by new competitors like Warburg Pincus- and Tencent-backed Beike, as well as local classifieds platform 58.com and its property listing affiliate, Anjuke. Fang founder Vincent Mo stepped down as chairman last year After a 2010 IPO, Fang’s business model of selling banner ads to cash-rich developers started to suffer in 2014 w…
Hines Greater China Boss Cormier Thielke Joins Prologis to Lead Asia Investment
…ity Management (part of BentallGreenOak), are building an additional multi-storey cold storage complex on the adjacent site. Targeting China and India In her new role, Thielke will focus on the growth of Prologis in the China and India markets. As of June, the company owned or had investments in properties and development projects spanning 1.2 billion square feet in 19 countries. Prologis leases logistics facilities to 6,700 customers across two m…
CapitaLand Investment Expands Core-Plus Fund into Korea with $83M Logistics Buy
…tate, traced this latest move to the growing distribution needs of Korea’s online shopping industry. “Demand for quality logistics facilities in the country is robust and increasing steadily on the back of accelerating e-commerce growth that has resulted in the country having one of the highest e-commerce penetration rates globally,” Treacy said. Supply Seen Falling The Seongeun Logistics Centre, completed in April, sits within an emerging logisti…
ESR Adds Logistics Site Near Western Sydney Airport Project for $45M
…have the ability to be operational as soon as Western Sydney Airport comes online,” said Phil Pearce, chief executive of ESR Australia. “They will also have the benefit of leading-edge renewable energy infrastructure, which is an increasing concern for our customers with the rise of automation and electrified fleets.” Including the cost of the site acquisition, ESR plans to invest around A$270 million in the project, as it converts the current 17…
Downtown Singapore Office Rents Slip For First Time Since Pandemic
…irst quarter of 2024. By the fourth quarter of next year, Keppel Corp’s 33-storey Keppel South Central is set to roll out about 600,000 square feet in Tanjong Pagar while the redevelopment of Shaw Tower on Beach Road will see 400,000 square feet of additional floor area coming online in early 2025. Marketing activities for the projects are already underway with around one-third of the total area in the three properties already committed at the tim…
How Altus Group and Manulife IM Work Together to Streamline APAC Valuations Sponsored Feature
…PAC with Altus Group. Together the three executives explained how using an online platform to manage valuations has enabled smoother collaboration, simplified reporting and provided new levels of portfolio insight. Mingtiandi: What business challenges (or objectives) prompted you to extend independent valuation management services to your Asia-Pacific operations? What outcomes were you aiming to achieve? Kenneth Tsang: As a global institution, Man…
Speaker Bio: Kevin Kow of NWP Property MTD TV Productions
…operty’s New Economy enabled consumer infrastructure platform enables both online commerce via its last-mile logistics facilities and distribution centers, as well as offline commerce via the largest independent network of modern community-based shopping malls in Indonesia. Since inception, NWP Property has grown rapidly to become one of Indonesia’s largest real estate platforms today. The platform has expanded its footprint thirteenfold in six ye…