…Asia real estate headlines today with the news that a Singapore department store operator and retail developer has agreed to take a 20 percent interest in four office buildings and ten shopping centres in Sydney, Brisbane, Melbourne and Perth. In other news around the region, netizens have poured scorn on rule changes implemented by Beijing to make it easier to buy homes, while Chinese investors pumped $2 billion into an emerging Southeast Asian n…
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Investors Pump $1B into India’s Stressed Property Assets and More Asia Real Estate Headlines
…Hong Kong “Opening soon,” says the white hoarding covering a Chanel Beauty store on the aptly named Fashion Walk, a retail area normally teeming with shoppers in Hong Kong’s Causeway Bay district. The shop, which has looked like this for nearly four months, is just one of many whose openings have been significantly delayed by recent anti-government protests, adding to the increasing number of empty storefronts appearing in the city’s retail enclav…
Beijing’s GoHigh Capital Sets Up RMB 10B Urban Renewal Fund with CP GroupÂ
…onths ago, the firm announced the acquisition of the Wangfujing department store in Beijing’s Huangcun area through a RMB 5 billion urban renewal fund established with mainland developer Grand Joy Holdings in August 2018. The 50:50 JV with mainland commercial developer Grand Joy, (formerly known as Joy City), aims to convert the department store into a 150,000 square metre (1.6 million square foot) shopping mall. A year prior to that announcement,…
HK Housing Rents Sink to Lowest in 23 Months and More Asia Real Estate Headlines
…ompleted its acquisition of Paris-based Qopius, which provides AI-based in-store tech solutions in Europe. The acquisition will help Trax in pushing real-time store monitoring and autonomous inventory management into mainstream adoption, the company said in a statement. It did not disclose any financial details of the deal. Read more>> Singapore Hotel Sector to Recover Faster than Hong Kong Singapore’s hotel sector is expected to take a significan…
Dalian Wanda Faces $5.7B Debt Bill and More Asia Real Estate Headlines
…ewellery plunged during the first two months after temporarily closing its stores amid the coronavirus outbreak. Retail sales in Hong Kong and Macau fell by 60 percent from a year ago. Same-store sales in Hong Kong and Macau slumped by 59 percent with sales volume dropping by 61 percent year-on-year. Read more>> Japan’s AEON Group to Invest $2B in Vietnam Expansion Leading Japanese retail group AEON will invest $2 billion to expand its network of…
Sunac Wins Tianjin Housing Plot for RMB 1.2B and More Asia Real Estate Headlines
…in the city’s Tuen Mun district. The 2,400 square foot (223 square metre) store in tmtplaza — its fifth in Hong Kong — is set to open on April 29 and is targeted at the local community in New Territories West. It will also serve as a base for home delivery service for online purchases. 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 as they happen…
Li Ka-Shing’s CK Asset Sells Chengdu Project for $1B and More Asia Real Estate Headlines
…discipline inspection in Beijing. Read more>> Ikea Opens First Inner City Store in Shanghai Ikea, a world’s leading home furnishings retailer, opened its first Ikea City in central Shanghai on Thursday to get closer to Chinese consumers, especially the younger generation, to enhance its omni-channel retailing experience through store designs, digital innovations and catering elements. The move implements Ikea China’s transformation strategy that…
Causeway Bay Shop Sold at 73% Loss as Virus Wave Menaces Hong Kong
…s in formerly bustling shopping districts beyond Causeway Bay. In March, a store along Nathan Road in Mongkok, normally one of Hong Kong’s busiest retail areas, was sold at a 54 percent discount and notched the worst loss this year for a seller in the 20-storey Ginza-style commercial building. Tightening Measures Amid a Third Wave The world’s most expensive shopping strip is losing its appeal The mini-shop in Causeway Bay had been on the market fo…
Shui On Land Reports HK$1.8B Loss and More Asia Real Estate Headlines
…tender offer came as the trading house looks to increase efficiency in the store chain, which competes with 7-Eleven and Lawson Inc for cornerstore supremacy in the country. Read more>>> Hong Kong’s Sino Hotels Drop to 34% Occupancy Occupancy rates in hotels owned by local tycoon Robert Ng Chee Siong dropped to as low as 34 percent, the magnate announced in a stock exchange filing on Wednesday, also noting that the group’s revenue for the year end…
Asia Real Estate People in the News 2020-08-31
…of people moves this week with major changes at China Vanke and department store operator Golden Eagle Retail. There are also some familiar faces showing up in new places in the private equity world in Hong Kong and Shanghai, with all the details waiting for you a bit further down the page. Development giant China Vanke on 27 August announced that it is establishing a Northwest Region Business Group under the direction of its Xi’an general manager…
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