Ascendas Hospitality Trust has on June 15 entered into an agreement with ES-CON Japan via Ascendas Hospitality Real Estate Investment Trust (A-HReit) to acquire three hotels in Japan’s Osaka city for a purchase consideration of 10.29 billion Japanese yen (S$126.1 million). The manager of the hospitality trust said that the acquisition of the three hotels, Hotel WBF Kitasemba West, Hotel WBF Kitasemba...
THE Straits Trading Company's subsidiary, Straits Real Estate, has entered into a conditional purchase and sale agreement with Osaka-based developer Chinju Co to acquire three residential buildings located in Central Osaka for 6.2 billion yen (S$76.8 million). Completion of the acquisition is expected to take place by end-June. "The acquisition will complement Straits Real Estate's existing...
GIC has acquired the office component of Pacific Century Place Marunouchi in Tokyo, Singapore's sovereign wealth fund announced in a press release on Tuesday (Oct 21). While GIC did not announce the cost, Reuters had earlier quoted sources as saying that the office tower was valued in the region of ¥170 billion (S$2 billion). The 32-storey mixed-use development was acquired through a GIC affiliate,...
Japan has been grossly misunderstood to be a high-cost country. Most Singaporeans have the impression that taxes, food, real estate, and so on, are much more expensive in Japan than at home. At the very top end, the kaiseki ryori might cost more in Japan than in Singapore, but in terms of value, the dinner there beats the one here. However, in the mass-market segment, the same item in a Japanese...
Japan has been grossly misunderstood to be a high-cost country. Most Singaporeans have the impression that taxes, food, real estate, and so on, are much more expensive in Japan than at home. At the very top end, the kaiseki ryori might cost more in Japan than in Singapore, but in terms of value, the dinner there beats the one here. However, in the mass-market segment, the same item in a Japanese...
Ascendas Hospitality Trust has agreed to buy the Osaka Namba Washington Hotel Plaza in Osaka, Japan for 8.9 billion yen (S$110.8 million) in a deal that would diversify its portfolio and boost returns. The purchase price that will be paid to Ainodake Godo Kaisha is 3.3 per cent below the independent property valuation of 9.2 billion yen made by Savills Japan. The hotel will continue to be leased to...
Some of the world’s biggest institutional investors, including Singapore’s Global Logistic Properties (GLP), are snapping up more and more Japanese real estate. The reason? Not Abenomics but the massive shortage of modern warehouse facilities that has resulted in very low vacancy rates. Prime Minister Shinzo Abe’s pro-growth strategies have been lauded by some market observers as the impetus...
Millennium & Copthorne Hotels (M&C) made its first investment in the Japanese hotel market. Its wholly-owned subsidiary, CDL Hotels has bought a property in the Ginza district of Tokyo for 9.5 billion yen (73.6 million pounds). The M&C said it intends to build a hotel on the site and construction is targeted to be completed by the end of 2014. The development project will be project managed...
One day when Mr Theodore Jennings looked out from his ninth-floor penthouse at the sea of residential high-rises that fill his Shinjuku neighbourhood, he had a sudden realisation. There were hundreds of balconies, lined with laundry or rubbish bins, but "you could see absolutely nothing else, save for the odd plant," the 34-year-old said. In this city of more than 13 million, famed for its diminutive...
Mainboard-listed Mapletree Logistics Trust said on Tuesday it was buying a warehouse facility in Japan for some S$16.2 million. It signed a sale and purchase agreement to acquire Toki Logistics Centre from Hamakyorex, a third-party logistics company in Japan. Under the deal, Hamakyorex will enter into a 10-year lease agreement with Mapletree Logistics. The property is a two-storey warehouse facility...
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