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Baring Private Equity is making Australia’s biggest hotel purchase ever, with the Hong Kong-based firm agreeing to acquire the five-star Hilton Sydney from Bright Ruby Resources for A$530 million ($364. Formerly chief executive of Singapore Land Authority before joining JTC in. “We believe it’s a wise deal for the. 8 million square foot) project known as Site 3, which adjoins the IFC complex in Central, was approved on Friday, according to sources who attended the Town Planning Board meeting who spoke with Mingtiandi. Chinese regulators said they will allow the creation of real estate. Prior to that, the University of Melbourne graduate had served as a. 8 million. Spark City Cheung Sha Wan creates a new landmark for Kowloon’s families and young professionals. Top-level turnover at mainland developers leads Mingtiandi’s roundup of personnel movements from around Asia again this week, as Zhenro Group becomes the latest defaulting builder to see its chairman step aside and Longfor Group names a new board member. Angelo, Gordon-Chellaram JV Selling Hong Kong Retail Podium to Wang On for HK$780M. Breadth. 1,314 likes · 11 talking about this. With China struggling with rigid political solutions to complex problems, Shan made clear that PAG, which has $50 billion in assets under management globally, is a regional investor. In addition to the Westlink business park in Shanghai, a property acquired by Blackstone from Singapore’s Mapletree Investments for a reported $1. Industry Moves;The transaction was first reported by the Business Times. 9 billion ($4. Billionaire Wee Cho Yaw is. 2023 Program. Pang joins the property consultancy from China Renaissance Securities where he had served as head. Amandine Wang joins Flow from Digital Realty. 2022/09/05 by Christopher Caillavet Leave a Comment. Asia’s hottest digital infrastructure markets are being brought into focus this week as Mingtiandi’s APAC Data Centre Forum holds sessions on Japan and Korea, as well as Southeast Asia, with speakers from some of. While no indicative price has been released, Golden Wheel had reportedly put the newly built tower on the market. 07 billion ($392 million). Blackstone is poised to buy back a portfolio of Japanese rental apartments from troubled mainland insurer Anbang Insurance for JPY 300 billion ($2. The Australian Financial Review reports that GIC has emerged as the. Our breaking updates on the region’s property markets are followed by industry leaders from Morgan Stanley, Blackstone, and Goldman Sachs, and we are looking for an associate editor. 5 billion) residential project in Hong Kong’s Kowloon Bay, having reportedly submitted an application to redevelop an industrial property in the area into 1,782 new homes. Tokyo Trust Capital is fortifying its Japan business as the company brings on board a former BlackRock and GE Capital Real Estate executive to help lead its operations in the country. Born in 1966, Kim formerly served. 07 billion for LaSalle Asia Opportunity VI, the Arkansas Teacher Retirement System said in a report of its board of trustees’ 27 September meeting, which noted that LaSalle is targeting a fund size of $1. Sign Up Now. Amazon is estimated to be paying gross effective rents of around S$10 ($7. Philips has agreed to sell its Asia Pacific headquarters in Singapore’s Toa Payoh area to Ascendas REIT for S$104. Pelham Higgins has been hired by Sydney-based property investment and advisory firm Fife. Wilson Lai, head of investments at ARA Asset Management. The properties were delivered by a “premier Japanese developer” in 2022, KKR added, without disclosing the identity of the seller or. Asian acquisitions of London commercial properties are reaching the highest levels of the market, with Singapore’s Ho Bee Land announcing this morning that it has agreed to purchase the Scalpel office tower in the UK capital’s primary business district for £718 million ($972. The portfolio’s other holdings have included a 629,700 square foot warehouse near Warsaw acquired from Singapore sovereign. The 1998-vintage Horae Plaza is due for an overhaul. A Swire joint venture with a subsidiary of the world’s largest. 13 billion) deal which would create Asia’s seventh-largest REIT. Mingtiandi’s 2022 event program is designed to build on the success of our 2021 MTD TV forums, which have already attracted more than 3,400 live viewers and garnered over 10,000 on-demand views of the event recordings. 46 million), according to a market source who spoke with Mingtiandi. By the end of 2023, Tay expects gross effective rents for Grade A offices in Singapore’s central business district to stay level or potentially slide by as no more than 1 percent from the S$11. 6 million square feet currently to 4. 4 million ($269. The manager of Manulife US REIT announced last week that William “Tripp” Gantt has been appointed as its new chief executive, effective 6 May. A Hong Kong retail tower seized from distressed mainland developer Golden Wheel Tiandi Holdings has been put up for tender in the latest case of a sale by receivers in the Asian financial capital. The muted outlook stands in sharp contrast to the 9. 4 billion) logistics project which it purchased last month in Hong Kong, with the industrial specialist announcing a joint venture on Monday with local developer Chinachem Group. In an one-hour discussion with Mingtiandi founder Michael Cole,. 9 billion) as part of a debt restructuring, with the renamed projects now appearing on the official WeChat account of the southern China office of CITIC Urban. Hopson has bought the stalled project at 131-141 East 47th Street. 18 billion ($280 million), based on the. Shimao Group Holdings has promoted Lu Yi to the role of executive president, effective from 23 June, according to an announcement to the Hong Kong exchange this past week. Also in the news, China Evergrande has sold its yacht for $32 million as…. Often tipped to become Singapore’s next. 5 billion venture targeting the Asia Pacific life science real estate segment, according to a joint announcement this week. The upsizing will add up to $1 billion in equity to the venture, ESR said Wednesday in a release. Mingtiandi is designed to help real estate professionals make informed decisions and gain an edge. Half of the funds have been allocated to the mainland market, with a focus on retail-led mixed-use developments in. A local consortium which won a September tender for a Tokyo office building with a JPY 400 billion ($2. Carrying the title of executive director, Yong most recently was a senior fund manager at LaSalle Investment Management and in her new role will help oversee a strategy to deliver defensive returns by investing. Mingtiandi Data Centre Forum to Explore SE Asia, Japan, Korea This Week. City Developments Ltd (CDL) has acquired a portfolio of 25 Tokyo apartment buildings from North American fund manager BentallGreenOak for JPY 35 billion ($230 million), marking the largest purchase to date by the Singapore property heavyweight in Asia’s most mature rental residential market. Mingtiandi is a website that covers the latest trends and deals in Asia's real estate and outbound investment markets. Bright Ruby has agreed to purchase the 276,450. Marketing documents seen by Mingtiandi on Tuesday showed that Mercatus, the property investment arm of NTUC. (KREST), has acquired 39 multi-family properties located in 15 popular residential submarkets across Tokyo. Now 52, Gantt takes over the top role at the Singapore-listed commercial real estate trust as Jillian Smith retires from her leadership of the REIT. Hong Kong housing became more affordable last year, and still ranked last globally (Getty Images) Hong Kong has defied an ongoing property slump to maintain its distinction as the world’s least affordable housing market, according to the results of a Demographia survey. A representative of the real estate investment branch of Montreal-based Caisse de Depot et Placement du Quebec confirmed to Mingtiandi that Agethen, who serves as senior vice president for APAC, had moved to Singapore in July, while Laurent Fischler, the firm’s head of investments for APAC, remains based in Hong Kong. Foto: Shutterstock. In their new roles, Kim and Tang will serve as managing directors and co-heads of real estate for Asia Pacific, LSE-listed. After selling off its domestic appliance and lighting divisions in recent years to focus on healthcare technology, the. SilkRoad acquired the Tokyo properties on behalf of its third value-add fund (Getty Images) SilkRoad Property Partners on Monday announced the acquisition of six Greater Tokyo assets for JPY 19. 8 billion in offshore bonds, according to a statement to the Hong Kong exchange late on Wednesday, as the mainland developer faces a continuing slide in its core housing business. 07 billion ($392 million). 3 million ($56. CapitaLand Selling Stakes in $7. 1 billion) to investors in its shopping mall business if the unit fails to complete its initial public offering this year, according to people familiar with the matter. Chinese financial conglomerate CITIC Group has inaugurated Beijing’s tallest skyscraper, formally known as the CITIC Tower, eight years after breaking ground. 6 billion ($1. By the end of 2023, Tay expects gross effective rents for Grade A offices in Singapore’s central business district to stay level or potentially slide by as no more than 1 percent from the S$11. Mingtiandi - Asia real estate intelligence | 10,395 followers on LinkedIn. Known as ESR-KS II, the JV was set up in June 2020 by Hong Kong-listed ESR, Dutch pension fund manager APG and Toronto-based CPPIB with $1 billion as the initial equity allocation. For 2023, Mingtiandi is proud to present a series of online forums, bringing together thought leaders from around the region to discuss trends affecting sectors including residential, logistics, data centres, and office strategies in Asia Pacific as well as two on-location gatherings of senior leaders in Singapore and Hong Kong. At 528 metres (1,732 feet) tall, and commonly known as China Zun, the skyscraper rises above its closest rival – the China World. 50 per square foot per month in the first quarter, up slightly from the same period in 2022. In Shanghai, Swire signed a letter of intent with Lujiazui Group to develop a 600,000 square metre (6. Insurance giant AIA is diving into China’s commercial property sector by paying RMB 5 billion ($716 million) for a 90 percent stake in a retail-office complex in Shanghai’s Hongkou district, marking the largest cross-border investment in mainland real estate in recent months. Tang, who will continue to be based in Shanghai, steps up to her new position one year after being named Co-Head of China and over four years after joining Colliers. 7 billion) bid is said to have bested. Mainland China developer Hopson Development Holdings is poised to make its first overseas acquisition after agreeing to buy a stalled residential project in New York for $113. JD is a significant shareholder in ESR, a Hong Kong-listed logistics real estate platform co-founded by Warburg Pincus. Data centre operators eager to serve Singapore’s growing tech sector received some good news this week as the city-state formally reopened applications for the energy-hungry facilities after a three-year. A Logos project in Singapore’s Tuas region. Murata is set to join Warburg Pincus early next year, according to the memo and will lead the build-out of the firm’s Japan private equity and real estate business in the country, in addition to his role as co-head of Asia real estate, according to the memo. Also making the list are executive updates from M&G Real Estate,. Goldman Sachs Sets Up China Logistics JV with Shanghai Developer Sun Jade. ESR-Logos REIT had acquired the Pandan Logistics Hub from CWT. Singapore Opens Applications for New Data Centre Development. Graeme Torre, managing director and head of real estate for Asia Pacific at APG Asset Management, is among the four industry leaders speaking in the keynote panel of t he Mingtiandi Hong Kong Focus Forum on 27 June. The acquisition was one of a pair of UK hospitality. Weijian Shan, Chairman & CEO, PAG. 8 billion since the 115-unit first phase was launched in February 2021. Following the death of Chen, who founded the Zhejiang-based developer, his 40-year-old son Chen Hongni, who had already been serving as an executive director. 25 billion in 2018, the DragonCor portfolio also includes high-quality apartments and a life science park in China’s commercial capital, a source told Mingtiandi. 4 percent surge in premium office rents. 55 billion ($800 million), as the mainland partner in the development grapples with a liquidity crunch. State-run Chinese conglomerate CITIC, a main creditor of the cash-strapped developer, has taken over stakes in five Kaisa projects in Shenzhen worth more than RMB 60 billion ($8. The property, which formerly belonged to a locally family, occupies a 2,202 square foot site on a 999-year leasehold which started. Tribeca King’s Cross will span 830,000 square feet across five buildings. Delivering on that mission requires three components: network equipment, which manages the data flowing through the ‘pipes’ of the data centre; power infrastructure to keep the network, cooling, and IT equipment. Blackstone has raised $30. Singapore-based Digital Edge has entered a partnership with Japanese builder Hulic to develop a carrier-neutral data centre in downtown Tokyo, marking the platform’s seventh facility serving the capital city area. Hong Kong-based Mandarin Oriental International is selling its five-star luxury hotel in Washington DC to UK asset manager Henderson Park for $139 million as the Jardine Matheson-controlled firm continues to offload US assets on weak corporate bookings. The mall was built by Far East Organization in the 1970s for just S$20 million. For GIC, the Indus play comes after the Singaporean titan teamed up with a Canadian partner this month on a buyout of Toronto-listed Summit Industrial Income REIT for C$5. 2. In an interview with Mingtiandi on Monday, Patrizia Asia Pacific head Thomas Hirschvogel said the fund,. Bright Ruby Resources, an investment firm backed by Chinese billionaire Du Shuanghua, has won the tender for 16 Collyer Quay, picking up the Raffles Place office tower from NTUC Income for approximately S$1 billion ($717. Singapore’s QIP, Soilbuild Launch $246M UK Student Housing JV. 2023/08/17 by Christopher Caillavet Leave a Comment. The expansion of China’s REIT regime to include portfolios of retail properties comes just less than two years after the country’s first batch of nine publicly traded REITs were floated on the Shanghai and Shenzhen stock exchanges in June 2021. In Hong Kong, the developer has now sold out the majority of the homes in its Eight Star Street project just one minute’s walk south of Six Pacific Place, at prices ranging up to HK$48. 3 million), according to people familiar with the matter, Already the anchor tenant of the two-building leasehold facility at 12 Ang Mo Kio Street 64 in central Singapore, Apple is exercising its right. Read More>>. US-based Blackstone said the portfolio it is. Singapore-listed LHN Group continues to add properties to its rental residential portfolio with a deal to purchase a commercial block in the city-state’s Rochor district for S$80 million ($60. ESR has agreed to sell a 30 percent stake in its Kwai Chung Cold Storage Logistics Centre project in Hong Kong to an unnamed “strategic investor” from mainland China. Quarter-Century at Goldman. 2022/11/24 by Mingtiandi Team Leave a Comment. comJoined. 50 per square foot per month in the first quarter, up slightly from the same period in 2022. The stock exchange said Tuesday that the REIT will issue 500 million. Morgan Stanley and Greycoat had acquired Premier Place in 2017. Join Mingtiandi membership to get unlimited. Blackstone had offered HK$5. The deal value was not disclosed. The facility in the core commercial district of Tsim Sha Tsui will. 93 percent stake to Blackstone funds. Hong Kongmingtiandi. APG Invests $400M in CBC China Life Science Real Estate Venture. Hong Kong developer Fairland Holdings has acquired a neighbourhood shopping centre in the urban renewal hotbed of To Kwa Wan for HK$425 million ($54. Mapletree representatives declined to comment and PAG had yet to reply to. 12 million) for the 5,121 square meter (55,121 square foot) plot on Club Street, which works out to S$2,148. Delivering on that mission requires three components: network equipment, which manages the data flowing through the ‘pipes’ of the data centre; power infrastructure to keep the network, cooling, and IT equipment. Also getting mentions are new board members at developers Goodman and Great Eagle in Hong Kong, as well as the passing of a top. That deal was uncovered just days after a CapitaLand joint venture announced that it is selling 79 Robinson Road – an office tower two minutes’ walk to the north – for S$1. Prior to joining Warburg Pincus, she worked at Merrill Lynch in the Investment Banking Division focusing on corporate finance transactions across Asia. Newly hired director Anh Hao Le. 2023/09/18 by Christopher Caillavet Leave a Comment. Spread across 9,300 square metres (100,104 square feet) and 290 units in Tokyo and Kyoto, the assets will be managed under the sustainability-focused Cavana brand and target urban dwellers in. 2023/03/21 by Christopher Caillavet Leave a Comment. Matthew Yao joins LaSalle after stints at PGIM and CBRE IM. Angka pembelian hunian mewah tersebut mencapai Rp 2,31 triliun. com - Keluarga kaya asal Indonesia disebutkan telah membeli tiga rumah mewah di Jalan Nassim, Singapura seharga 155 juta dollar AS. Colt Data Centre Services on Thursday announced the launch of a 120-megawatt facility in Navi Mumbai as the British company’s first project in India. A Vietnamese tycoon linked to Singapore’s Viva Land, who has has partnered with Li Ka-Shing’s CK Asset, was arrested by police in Ho Chi. Alibaba Files for Potential $2B Hong Kong IPO of Cainiao Logistics Division. 6 billion ($720. 9 million), taking a loss of more than £68. 1 hectares) of land, the data centre will be built to Tier 3 standards, which require. Shanghai Fosun High Technology Group Co. The four-part forum, which begins in March 2023, will. 5. Industrial specialist Logos has begun construction of a Singapore warehouse for global logistics operator DSV, with the partners investing a total of S$200 million ($147 million) in the built-to-suit project. Mainland Billionaire’s Bright Ruby Buying Singapore Mall for Reported $667M. Zhou Bo, COO, ESR China Peter Hwang, CEO, DragonCor Hubert Chak, Executive Director and CEO, SF REIT. The offer, which was raised in late February from the initial proposal of S$0. 2023/09/19 by Beatrice Laforga Leave a Comment. Sign up. After raising $3. 9 billion) sale of the the Milestone Logistics portfolio to ESR and Singapore sovereign wealth fund GIC in 2021. Investors active in the Australian market told Mingtiandi that the sale of ADIA’s stake in the Logos portfolio will serve as a health check on the country’s shed market after Blackstone’s A$3. A Mofang complex in Shanghai’s Songjiang area (Image: Mofang) Mofang, the Chinese rental apartment operator backed by private equity major Warburg Pincus, has refiled for a Hong Kong initial public. 8 billion, Mercatus Co-operative has headed back to the market with a set of community retail assets carrying a price tag of S$265 million ($194 million). In June, Lee’s team bought the Westgate Tower in suburban Singapore’s Jurong East from local investment firm Sun Venture for S$680 million ($488. 6 million ($222. 4 million square feet of Class A office space, Houston-based Hines said in a release.