The Robinson Centre building has been sold to a private fund managed by ARA Asset Management Limited, according to Sakal Real Estate Partners, which managed the transaction. The 20-storey office building at 61 Robinson Road is located in the Central Business District and has a net leasable area of over 130,000 sq ft. When contacted, Sakal said both buyer and seller agreed not to disclose the...
Warburg Pincus-backed ARA Asset Management, one of the largest Asian real estate fund managers, is exploring a dual stock market listing, including one in Singapore, in the next two to three years, group CEO and co-founder John Lim said. "A dual listing is a likely scenario. Singapore definitely will be one venue," Mr Lim told Reuters on the sidelines of a conference organised by DealStreetAsia on...
ARA Asset Management and British property group Chelsfield have jointly acquired Manulife Centre at 51 Bras Basah Road for around S$555.5 million. That's about S$2,305 per sq ft for the 11-storey commercial building with a net lettable area of over 241,000 sq ft. The vendors are City Developments (CDL) and Alpha Asia Macro Trends Fund II (AAMTF II), which is managed by Alpha Investment...
ARA Asset Management Ltd group founder and chief executive officer John Lim is leading a consortium that includes Cheung Kong Property and Straits Trading Company to take the group private at S$1.78 a share. Teaming up with them in the buyout through a scheme of arrangement are US private equity firm Warburg Pincus and AVIC Trust Co, a unit of the Shanghai-listed AVIC Capital Co. The consortium said...
FOR a real-estate fund manager, access to capital is crucial and this may well explain why ARA Asset Management Ltd's founder John Lim is tying up with American private-equity (PE) heavyweight Warburg Pincus to launch a takeover of the company - if the rumour holds true. Mr Lim is leading a consortium of existing shareholders in the buyout plan, according to a Wall Street Journal report citing people...
ARA Asset Management Ltd has won the bid for a stake in Singapore's Capital Square office tower in the city's central business district, according to people familiar with the matter. ARA, which is listed in Singapore, is buying the 50 per cent stake in the building that was put up for sale last year by Alpha Investment Partners, said the people, who asked not to be identified because the process is...
Singapore's second oldest listed company is partnering one of Asia's largest REIT managers to expand their property business. Conglomerate Straits Trading Company (STC) is acquiring a 20.1 per cent stake in ARA Asset Management (ARA) for S$294 million. Under the strategic alliance, STC will pay ARA Group CEO John Lim as well as Hong Kong-listed developer Cheung Kong Group S$294.37 million for the...
Real estate management firm ARA Asset Management (ARA) has received approval from the Singapore Exchange (SGX) to list a yuan-denominated real estate investment trust (REIT) in the city state. The Dynasty Real Estate Investment Trust (Dynasty REIT) will be the first share sale in Singapore to be denominated in the Chinese currency. It will also be the second initial public offering (IPO) denominated in...
Real estate fund manager ARA Asset Management plans to raise between S$700-800 million by listing some of its Asian assets in a yuan-denominated initial public offering in Singapore, the first outside Hong Kong or China. ARA Asset Management is an affiliate of Hong Kong tycoon Li Ka Shing's Cheung Kong Holdings. According to Dow Jones report, Singapore-listed ARA expects to get approval from the...
Real estate fund manager ARA Asset Management is exploring the possibility of a yuan-denominated initial public offering of some of its Asian assets in Singapore this year in what would be the first IPO in the city-state in the Chinese currency, people familiar with the situation said yesterday. Singapore-listed ARA, an affiliate of Hong Kong tycoon Li Ka-shing's Cheung Kong Holdings, is looking into the...
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