Tokyo has been ranked as the top property investment city in the Asia-Pacific, according to a survey by Washington-based Urban Land Institute and PricewaterhouseCoopers. But while investors see plenty of opportunities in the regional property sector, financing may prove to be a key challenge in the coming year. Together with Tokyo, Singapore, Hong Kong, Bangalore and Shanghai round up the list for the...
Overseas Property
ASIAN debt managers expect real estate developers and companies in China, South Korea and Australia to provide them with the most investment opportunities next year, an industry survey shows. Economic recession, slowing consumer spending and shrinking bank lending indicate a growing number of Asia-Pacific companies will face difficulty refinancing debt next year, according to a survey of 100 hedge fund...
Frasers Hospitality has signed agreements to manage its first three properties in India. The first is a 50-unit serviced residence which will open in June next year, near Bangalore's new international airport. The second is a 153-unit serviced residence near the Bangalore IT Park. Both properties are owned by the Skyline Group. Under a third contract, Frasers will manage 99 serviced apartments for the...
INVESTORS here now have the opportunity to cash in on distressed properties in the United States. Yesterday, property investment group IP Global said it would be the first to offer such properties for sale, through its Singapore real estate partner Adhome Realty. The first development on the block is a downtown Los Angeles residential project at prices that are, on average, 30 per cent lower than before...
Singapore's Frasers Hospitality, which manages serviced apartments, has launched its latest property in Shanghai. Despite the current global financial uncertainty, it remains bullish about its prospects. Frasers Suites Top Glory in Shanghai was opened by former US secretary of state, Henry Kissinger. The five-tower serviced apartments are located in the bustling Lujiazui central business district in...
The Government of Singapore Investment Corp (GIC) has increased its investment in an Australian property firm. Media reports in Australia say GIC has increased its stake in GPT to between 12 and 18 per cent after pumping in an additional A$250 million to A$300 million. GPT is one of Australia's largest diversified listed property groups with prime retail and office assets across Australia. It also has a...
CapitaLand residential projects in Bahrain and Abu Dhabi have attracted S$1 billion in sales since June 2008. The projects were taken up by a mix of individual and corporate parties. CapitaLand has two major projects in the Gulf Cooperation Council region – Rihan Heights, which is part of the landmark Arzanah integrated development in Abu Dhabi, and its first Raffles City integrated development in...
Municipal governments in Shanghai and Hangzhou on China's east coast have joined a growing number of cities to introduce measures to prop up the sliding real estate market. For individuals buying their first homes in Shanghai, the maximum they can borrow from the government's housing fund has been doubled to 200,000 yuan ($43,100), the city's housing fund management agency said. The new rules took effect...
Property developers pull out all stops to boost sales CHINA'S property market is facing a downturn. This has prompted some Chinese developers to resort to publicity stunts and even gimmicks to revive interest among prospective buyers. Following a slowdown in June, the property market in China is expected to remain sluggish in the last quarter of this year. In its report, Singapore's DBS Group Research...
With initial progress underway at the China-Singapore Tianjin Eco-City project, Singapore Senior Minister Goh Chok Tong says what needs to be done is for policy measures to be either tweaked or put in place. While saying that Singapore had chosen the right site for the bilateral flagship project, Mr Goh acknowledged that the challenge right now lies in attracting investors. Mr Goh said his visit to the...