…ot renew its lease with Singapore’s JG Trustee (JGT) for its “loss-making” store in Westgate, the Japanese department store operator said in a regulatory filing on Monday (May 6) before the market opened. According to the terms of the lease, the company has the option to renew the lease for a period of three years by notifying JGT no later than six months prior to the expiry of the lease on Dec 22, 2019. Read more>> US Wants to Sell Fugitive Jho L…
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Mainland Sportswear Giant Files for $1B HK IPO and More Asia Real Estate Headlines
….8 million). Terraform Capital purchased the leasehold interest in the six-storey commercial building at 117 Harrington Street on a 5.25 percent yield. Read more>> Parkson Department Store Renews RMB 2.5B Per Quarter Beijing Lease Parkson Holdings’ Beijing operation Parkson Retail Development (PRD) has extended a department store lease in the city until the end of 2021. PRD’s Hong Kong-based owner PRGL announced in a stock exchange filing in Hong…
HNA Group Gets Help to Repay Dollar Bond and More Asia Real Estate Headlines
…Landlord Offers 44% Rent Discount to Prada The landlord of Prada’s retail store in Causeway Bay is offering to slash monthly rent by 44 percent next year when the Italian fashion house shuts its flagship outlet on Hong Kong Island, succumbing to dwindling shoppers’ foot traffic. The Milanese company will close its 15,000-square foot (1,393 square metre) store at Plaza 2000 along Russell Street, for which Prada pays HK$9 million ($1.15 million) in…
Straits Trading Agrees to Acquire Trio of Tokyo Buildings and More Asia Real Estate Headlines
…enders, as it reopens the second of its upmarket Harvey Nichols department stores. The store at Swire Properties Limited’s Pacific Place shopping centre in Admiralty reopens on September 26 after a three-month overhaul and a price tag of HK$250 million (US$32 million). The outlet’s floor plate will be halved to 42,000 square feet (3,900 square metres). Read more>> Blackstone Takes Control of Indiabulls Real Estate Assets Indiabulls Real Estate Ltd…
Hong Kong Tops Housing Misery Index for 10th Year and More Asia Real Estate Headlines
…-war Japanese heritage site in Osaka and turned what was once a department store into a luxury residential hotel. Located in Osaka’s Namba entertainment district, the east annex of Takashimaya department store was built in 1928 and is recognised as a tangible cultural asset by the Japanese government. Read more>> Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines…
Hong Kong Shop Sold for Nearly Half Off as Virus Hits Retail
…owners in Asia’s most expensive city have resorted to selling the shop. A store along Nathan Road in Mongkok — normally one of Hong Kong’s busiest shopping districts — was sold at a 54 percent discount recently, according to government records, while another store in the city’s priciest retail area was sold via public tender on Wednesday. The fire sale of Hong Kong shops comes as one property consultant predicts that retail sales in the city will…
AA REIT Completes $94M Singapore Industrial Buy and More Asia Real Estate Headlines
…logistics industry. Read more>> Ikea S’pore to Hire 200 People for Jurong Store Ikea Singapore will hire 200 people for its new Jurong store at suburban mall Jem despite a fall in revenue in its last financial year, the firm announced yesterday. The store – the third Ikea outlet here – is slated to open next year and will span around 6,500 sq m across three floors. Read more>> Tune in again soon for more real estate news and be sure to follow @Mi…
GLP Kicks Off Construction on Four UK Projects and More Asia Real Estate Headlines
…to Open New Concept Store at Raffles City This Month BHG Singapore will take over two floors at Raffles City Shopping Centre as Robinsons closed its last outlet there last Saturday (Jan 9). In partnership with Raffles City Singapore, the department store will open a new concept store showcasing its best beauty, fashion, and home and living products. Read more>> Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twit…
Mapletree Explores US$1B Student Housing REIT IPO and More Asia Real Estate Headlines
…continue to have a strong presence in Hong Kong, with more than 20 Adidas stores and multiple franchise stores.” Read more>> Singapore’s Dasin Retail Trust Up 2.8% on News of ARA Interest Units of Dasin Retail Trust rose two Singapore cents or 2.8 percent to 74.5 Singapore cents ($0.06) as of 11.41am on Thursday on news that ARA Asset Management could acquire a 5 percent stake in the Chinese mall landlord and a 50 percent stake in its trustee-man…
New World Vice Chair William Doo Buys London Building for $175M
…g’s former chief executive Tung Chee-hwa, Tung Chee-chen, to acquire an 11-storey building at 66 Shoe Lane for £258 million. Late last year billionaire Thomas Lau’s Lifestyle International Holdings acquired BP’s London headquarters at 1 St James’s Square for a consideration of £250.1 million, with Doo serving as a non-executive director on the board of that department store operator. Just a 2.8-mile drive away from Doo’s new property is 11-12 St J…
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