Mapletree Investments has signed a Memorandum of Understanding (MOU) on a joint venture with Japan's ITOCHU Corporation to undertake "Build-to-Suit" development projects for logistics tenants in Japan. The companies agreed to extend their collaboration on investment and development of logistics, retail, industrial and commercial real estate projects in Japan, Singapore and the rest of Asia. The extension...
Overseas Property
Capitaland's wholly-owned serviced residence business unit, The Ascott Group, has opened its fifth serviced residence in Beijing. It is also the first time an Ascott serviced residence has partnered with Raffles City to offer an integrated lifestyle development comprising a retail mall, an office tower and a serviced residence. Located in Dongcheng District, the new serviced residence is near the Second...
Mainboard-listed retailer Metro Holdings is expanding its property business in China. The firm said on Friday that it is making an investment commitment of about S$41.7 million to acquire stakes in three developments in Anshan, Fushan and Qinhuangdao. Metro's wholly-owned subsidiary, Metro China, has set up a 21.4 per cent associated firm called Diamond Wind Company for the investment. The balance 78.6...
The Sino-Singapore Tianjin Eco-City Investment and Development Company is tying up with education services provider GEMS Education to co-develop a S$30 million international school in Tianjin, China. This will be GEMS' first flagship greenfield international school in China. The GEMS World Academy Tianjin will be located near the commercial centre of the Tianjin Eco-City's start-up area. It will open its...
A new work group has been formed to study the joint development of an iconic economic project in Iskandar Malaysia. This is a follow-up to the discussions between the prime ministers of Malaysia and Singapore in May this year. They mooted the idea of a bilateral project in Iskandar Malaysia as a showcase of the commitment of both countries to build a strong, productive and enduring relationship. The...
The world's leading luxury hotels are rushing to expand in Shanghai ahead of next year's World Expo, with hopes high for the upscale travel sector in the Chinese financial hub despite the global downturn. The opulent Peninsula, the only new building on the main part of Shanghai's historic Bund in 60 years, just opened, embracing the city's Jazz Age heyday with a chauffeur-driven 1934 Rolls Royce Phantom...
Singapore-listed Guangzhou Investment (GZI) said it is proposing to streamline its operations in order to focus on the property business. The streamlining will involve the separation of its non-property related business and a change of its company name to Yuexiu Property Company. Following the completion of the reorganisation, Yuexiu will focus solely on the property business. The other assets currently...
More Singapore companies, including small and medium enterprises (SMEs), may soon have opportunities to be involved in projects in the Sino-Singapore Tianjin Eco-city in China. Senior Minister of State for National Development, Grace Fu, was replying to a question by Dr Ong Seh Hong in Parliament on Monday. Ms Fu said the ministry has been working with IE Singapore and the Building and Construction...
The first public housing development in the Sino-Singapore Tianjin Eco-city has reached a significant milestone. A groundbreaking ceremony was held on Wednesday. Singapore's Senior Minister of State for National Development Grace Fu officiated at the event. The Eco-city is designed to promote social harmony, create economic vibrancy and environmental sustainability. One of its key performance...
The Ascott Group has secured a contract to manage a serviced residence property in Vietnam's third largest city, Hai Phong. It clinched the contract through Thuy Duong Investment Joint Stock Company, an established real estate company with developments across Vietnam's major cities. To be called Somerset Central TD, this will be Ascott's first serviced residence property in the coastal city of Hai Phong...