…otels. Aside from Hotel Telegraph and 39 Robinson Road, the Tan family in August this year, acquired the Reebonz Building in Singapore’s Tampines North area for S$39 million, according to an account by the Business Times. The eight-storey facility served as the headquarters of Singaporean online luxury marketplace Reebonz until the company’s liquidation in 2021. Mingtiandi reached out to Sunray for comment but had not received a response by the ti…
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Vanke Sells 48% Stake in Shanghai Mall to GIC, Expects Half-Year Loss of Up To $1.2B
…o sell off assets to ease its RMB 322 billion ($44.5 billion) debt burden. Online corporate registry records indicate that a vehicle of GIC now owns 98 percent of the operating company of the Shanghai Nanxiang InCity Mega Mall located in the city’s Jiading district, with a unit of Vanke retaining a 2 percent stake. Financial terms of the transaction, which took place last month, were undisclosed. The disposal comes as Vanke on Tuesday estimated th…
Gaw Capital, BW Industrial Join Roster of Speakers for Mingtiandi Singapore Forum
…mpany; DLA Piper partner Ciaran Londra; and Samuel Lee, chief executive of online investment platform Fraxtor. Also on the agenda is a session focused on the India market led by Josephine Yip, vice president for investments and asset management for Asia Pacific at Ivanhoé Cambridge. With just over one month to go before the event, more than 150 senior industry leaders have already registered for the forum with more than 10 percent representing maj…
Tech Survey Probes AI Adoption in Asian Real Estate: Responses Due 9 August
…menting artificial intelligence systems. With ransomware attacks and other online threats gaining more atention in recent years, the survey queries cybersecurity practices to provide a clearer picture of what steps companies are taking to protect their systems and safeguard data. The poll also seeks to document the frequency of cyberattacks in Asia’s property sector. Where Asia Stands To help industry professionals analyse the broader progress of…
Wharf Holdings Set to Swing to Six-Month Loss of Up to $360M on Revaluations
…ng, major landlords need to attract footfall from rival shopping areas and online retail,” said S&P analyst Wilson Ling. Double Whammy Hits City Shops Hong Kong’s economic weakness has delivered a blow to discretionary spending, with the city also suffering from a loss of consumer activity to neighbouring markets including Japan and mainland China, according to CBRE’s Asia Pacific mid-year review. Despite what the consultancy described as a strong…
Brookfield, Bain Capital Take the Spotlight for Mingtiandi Singapore Forum in September
…DLA Piper partner Ciaran Londra, alongside Samuel Lee, chief executive of online investment platform Fraxtor, in a session that focuses on how the city-state’s supportive ecosystem is drawing in global investors at the same time that Singaporean capital plays a greater in markets worldwide. With the Lion City’s markets for office buildings and shopping centres showing signs of a rebound in recent months, Galven Tan, chief executive officer for Kn…
GH Partners Forms Korea Senior Living Management JV With US Operator Thrive
…t Management and local builder STS Development were seeking to raise at least $150 million from Asian investors for South Korea’s first senior housing development fund. The fund marked STS’s entry into the senior housing market, after the company formed a joint venture with Caredoc, an online listings platform for senior care facilities, in July 2022. Lotte Group has also entered the senior living market, with the conglomerate launching its Vitali…
Shanghai Office Rents Plunge 10% as Vacancy Hovers Near Two-Decade High
…sell a pair of office buildings in Shanghai’s Bund area to insurer ZhongAn Online P&C Insurance, after average grade-A office vacancy in the waterfront district rose to 16.1 percent from 13.2 percent in 2021. Shanghai’s office market slump has also motivated US investment management giant BlackRock to put on the market a pair of office buildings in the city’s Putuo district at a 30 percent discount to what it paid to acquire the properties six yea…
Anny Zhang Named JLL China CEO as Bessie Lee Departs Company
…In the role she has helped drive tech initiatives such as DiChanDaDang, an online office leasing marketplace. Before joining JLL, Zhang worked as a commercial office leasing agent at DTZ Debenham Tie Leung (now part of Cushman & Wakefield) for three years. She is a 2004 graduate of Shanghai’s East China Normal University. “As China’s economy develops, there are huge opportunities to leverage our technology solutions and global scale to help Chines…
Guangzhou R&F Selling UK Project for Third Time and More Asia Real Estate Headlines
…more>> Singapore’s PropertyGuru Declares $4.5M Loss for Q1 Singapore-based online property portal PropertyGuru said Tuesday that its total revenue increased 12 percent year over year to S$37 million ($27.45 million) in the first quarter. The firm’s net loss was S$6 million in the first quarter and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was S$4 million. This compares to a net loss of S$10 million and adjus…