YTL Pacific Star, the manager of Starhill Global REIT, said it is buying two properties in the Malaysian capital Kuala Lumpur for a total of S$450 million. The two properties are the Starhill Gallery and Lot 10 Shopping Centre along KL's main shopping street, Jalan Bukit Bintang. Starhill Gallery will be acquired for about S$275 million and Lot 10 will be bought for S$175.2 million. The acquisitions...
Overseas Property
CapitaLand's Australian unit, AustraLand, has bought a 1.8 hectare fully serviced land parcel at the Northshore Hamilton site, fronting the Brisbane River in Queensland, Australia. The purchase price will be a combination of an upfront payment of US$11.1 million and a share of revenues through the life of the project. The acquisition price is conditional upon various approvals which are expected to be...
Skyrocketing property prices have spurred many divorced Chinese couples to continue living under the same roof while they await the best time to sell their homes. Based on cases in a Beijing court, the Beijing Morning Post suggested on Monday that about 10 per cent of divorced couples in China who were born after 1980 preferred to maintain their financial ties and shared property. The living-together...
The quicker-than-expected recovery in property markets in many countries may have caught many investors by surprise. Property investors looking for investment homes to ride on this recovery may have missed out on the recent boom that saw Singapore's private and public resale home prices rise a further 5.1 per cent and 2.7 per cent, respectively, in the first quarter of this year. But looking further...
Mainboard listed engineering and real estate group TEE International said it has bought a plot of land in the Thai capital Bangkok for S$6.6 million. The parcel, which spans 6,312 square metres is located near Bangkok's Ramkhamhaeng University and shopping malls. TEE International said the area is popular for education and commerce and is well connected by transport infrastructure. It intends to develop...
Foreigners may be allowed to own apartments and even commercial property in Indonesia under a revised rule expected by the third quarter of this year, Indonesia's investment chief said yesterday. The move is likely to draw investors into South-east Asia's biggest economy and increase the flow of foreign capital into the country. 'The government is committed to continuously review policies to make it...
CAPITALAND president and chief executive Liew Mun Leong said at a forum yesterday that there is no widespread asset bubble in China, because outside certain major cities, people's mortgage payments have not become unaffordable relative to their incomes. Mr Liew told students at the National University of Singapore Business School that there are 'speculative forces' in major cities like Beijing, Shanghai,...
CapitaLand's wholly-owned serviced residence business unit, The Ascott said it has been awarded a contract to manage a serviced residence in Danang, Vietnam's fourth largest city. The contract was awarded by the Korea Investment and Development Company, a real-estate consortium that specialises in commercial and residential developments across major cities in Vietnam. The serviced residence will be named...
Mapletree Investments has acquired an industrial property IXINAL Monzen-Nakacho Building in Tokyo from Itochu Corp, Japan. The property is a five-storey light industrial building that is home to a corporate headquarters, information systems development and operations cum data centre. Mapletree did not disclose the amount it paid for the building. Completed in September 2009, this freehold property is...
SIGNS of renewed confidence for global investors are very apparent today, after the global recession last year. Here are six markets that we would recommend to investors seeking to grow their property portfolio. Vietnam Vietnam's export economy and growing aspirational population makes it a strong market for growth potential. Also, demand for residential accommodation is outgrowing supply at a rapid...