…omy next year. Read more>> Hong Kong Catering Group Maxim’s Opens Landmark Store Hong Kong restaurant group Maxim’s opened its 2,000th Asian store in the city, spurred by the recovery in the catering business and with an eye on changing consumption patterns in the post-COVID era. The group marked the landmark opening with the inauguration of its Simplylife Bakery Cafe in the APM mall, Kwun Tong this month. Read more>> Chinese Developers Still Faci…
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Tycoon’s Son Seeks $62M for Singapore Mansion and More Asia Real Estate Headlines
…ing, eight bathrooms and a swimming pool A scion of a Singapore department store dynasty seeks to sell his good-class bungalow for $62 million, with that story leading Mingtiandi’s headline roundup today. South Korea’s KIC also makes the list as it allocates $400 million for domestic asset manager firms, and Japan’s SoftBank looks to buy land to build an AI data centre. Singapore Retail Tycoon’s Son Seeks $62M Mansion Sale A scion of the Tang fami…
Chinese Estates Marketing Office Block in London’s Mayfair for $172M
…e 1 St James’s Square office asset through his Hong Kong-listed department store operator Lifestyle International Holdings. Retreat from London Chinese Estates is the latest Hong Kong-based investor to put UK assets on the block amid property slumps both in London and at home, marking a reversal from the influx of Asian investment into the British capital in the years leading up to the pandemic. Battered by high interest rates and the rise of remo…
Temasek-Backed Tikehau Buys French Retail Assets for $215M, Finalises Nikko Tie-Up
…of 30 French hypermarket and supermarket properties from troubled grocery store operator Groupe Casino for over €200 million ($215 million). Under the terms of the binding agreement, Tikehau will acquire the properties, which are leased to French retailers Intermarché, Carrefour, Auchan and Casino, as well as ancillary lots within the complexes, some of which have development potential, according to Groupe Casino. “This transaction will reduce Gr…
CapitaLand Ascott Trust 1H Gross Profit Up 12% as RevPAU Exceeds Pre-Pandemic Levels
…resenting an 11 percent increase from the same period last year. On a same-store basis, gross profit and revenue increased by 3 percent and 4 percent year-on-year, respectively. CapitaLand Ascott Trust chairman Lui Chong Chee Total distribution for the period was S$96.5 million, nearly flat from the S$96.3 million logged in the first half of 2023, with the trust’s managers citing depreciation of most foreign currencies against the Singapore dollar…
Chinese Estates Sells Mayfair Office Block to the UK’s Oval Real Estate for $161M
…1 St James’s Square asset in 2020 through his Hong Kong-listed department store operator Lifestyle International Holdings. Retreat From London Chinese Estates’ disposal comes as London’s office market begins showing signs of recovery with average citywide prime rents rising 3.8 percent from the end of 2023 through 30 June and 5.5 percent year-on-year, according to a July report from Colliers. Despite the citywide momentum, vacancy in the West End…
IGIS Marketing NPS-Owned Seoul Mall for $294M and More Asia Real Estate Headlines
…t-fashion label Mango has rented a 19,000 square foot (1,765 square metre) store in Hong Kong’s prime Central district, people familiar with the matter said, the latest in a slew of global brands returning to the shopping hub, lured by lower rent. Mango’s new two-floor store will be at Asia Standard Tower on Queen’s Road Central, which has been left largely vacant since 2020 when its last long-term tenant, British brand Topshop, moved out, accordi…
Singapore Family Office Buys London Office Block and More Asia Real Estate Headlines
…sition of Japanese retail giant Seven & i Holdings by Canadian convenience store giant Alimentation Couche-Tard is subject to review by the Japanese government to assess any potential threats to national security, sources close to the matter said Thursday. The operator of the 7-Eleven convenience store chain is covered by the Foreign Exchange and Foreign Trade Act, which governs foreign investment in Japanese companies to prevent leaking technolog…
Daiwa Securities REIT Buying Tokyo Apartments and More Asia Real Estate Headlines
…property market woes. The expansion at K11 Musea in Tsim Sha Tsui includes store upgrades by labels such as LVMH’s Loewe and Kering’s Saint Laurent and Balenciaga, as well as a new store by Prada, the group said in a statement to Bloomberg. Read more>> HCMC Bourse Warns Investors After Novaland Misses Reporting Deadline The Ho Chi Minh Stock Exchange has announced that shares of four companies from real estate and material industries will be flagg…
IKEA Opens $1B Shanghai Shopping Mall and More Asia Real Estate Headlines
An IKEA store in Tianjin (Getty Images) Swedish furniture giant IKEA cuts the ribbon on its new Shanghai mall, with that story leading today’s headline roundup. Also making the list, WeWork’s India exit plan goes awry and a tender for Singapore’s Roxy Square ends with no bids. IKEA Braves China Retail Drought With $1B Shanghai Mall Opening IKEA’s shopping mall business Ingka Centres opened a mixed-use project in Shanghai on Friday, costing over R…
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