Banking tycoon Wee Cho Yaw has joined a group of Hong Kong investors to acquire a former landmark property in the heart of Beverly Hills for US$148.3 million ($194.2 million). Joint Treasure International, a Hong Kong-based private equity firm, has bought the eight-acre property next to the Beverly Hilton in California at a private bank auction. Media reports said the 9900 Wilshire Boulevard site,...
Overseas Property
Central China Real Estate, part-owned by Singapore's CapitaLand, plans to sell bonds denominated in US dollars to fund property projects, according to a statement issued to the Hong Kong Stock Exchange yesterday. Deutsche Bank AG, Nomura Holdings Inc and ING Groep NV will manage the sale and help arrange meetings with investors starting this week, according to the statement. Central China Real Estate...
A Malaysian government-linked property firm is hoping to attract more foreigners to buy property in the country. The firm, Malaysian Property Incorporated, has set up its first regional office and showroom in Singapore. It aims to uplift Malaysia's image as an investment destination and has chosen Singapore as a launch pad for its campaign. The company plans to showcase the projects of Malaysian...
Yanlord Land Group has acquired a residential development site in Shanghai for about 2.89 billion yuan ($568 million), the Singapore listed developer said yesterday in a filing with the stock exchange. The land, which was acquired in a public auction, is in Tangzhen New District in Shanghai's Pudong and has a total planned gross floor area of about 179,944 sq m, Yanlord said. The winning bid translates to...
CapitaLand's wholly-owned serviced residence business unit The Ascott is launching its first Ascott-branded property in Dubai. Ascott said it was bringing its brand to the United Arab Emirates through a management contract for the 118-unit Ascott Park Place Dubai. The asset is located in the prime commercial area of the city on Sheikh Zayed Road. Ascott will operate the property from October 1 this year...
Keppel Land says it will strengthen its focus in China through a wholly-owned subsidiary, Keppel Land China, which is being established to own and operate all of Keppel Land's properties in the country. Building on the Keppel Group's strong network and track record in 20 cities across China, Keppel Land currently has a total gross floor area (GFA) of 5.3 million square metres which translates to more than...
Building houses is a profitable business in China - something the Yanlord Land Group knows all too well. But the property giant did not start off in real estate. When it first set up shop in Singapore in the 80s, it focused mainly on trading and manufacturing. With China as its main market, Yanlord soon found it hard to compete against local rivals. But it was quick to spot another golden opportunity...
India's property market is gaining ground among investors as the country's economy continues to expand and demand for housing rises. Rising income levels and employment opportunities in the IT industry, manufacturing and business process outsourcing in India are also driving a property boom not only in the cities but also in the suburbs, industry experts said. In particular, properties in cities like...
Home sales in the United States probably increased last month, a sign the real estate market is stabilising after the expiration of a tax credit caused demand to plunge, economists said ahead of reports due to be released this week. Purchases of new and previously owned homes rose 7 per cent to a combined 4.395 million annual pace, according to the median forecast in a Bloomberg News survey. A separate...
India could be the next stop for property investment opportunities in Asia as buyers look for alternatives following the recent slew of cooling measures in China. That is according to speakers at a property forum organised by NUS-Institute of Real Estate Studies yesterday. GIC Real Estate managing director Goh Kok Huat said property prices in India had risen sharply following the liberalisation of the...