PH property developer MRC to form solar energy firm

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Listed property developer MRC Allied Inc (MRC) is planning to form a company that will engage in the production of renewable energy, specifically solar energy. “In line with the present policy of the government to promote and support renewable energy sources, the company finds it timely, to venture into renewable energy… Read more »

Visual from the MRC company website

Myanmar construction association’s public arm to sell shares in October

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Myanmar Construction and Development (MCD) Public Co Ltd, set up by Myanmar Construction Entrepreneurs Association (MCEA), will sell its shares to the public in October, a top official of the association said. Each share will be priced at K10,000 ($10), said U Kyaw Paing, deputy chairman of MCEA. The public… Read more »


Business tycoon Oei Hong Leong offers 17 cents per share cash offer for realty co IPC Corp

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Indonesian-born business tycoon Oei Hong Leong has offered to buyout Singapore-listed realty company IPC Corporation Ltd that is engaged in the investment and development of properties in Asia Pacific and America, at 17 cents apiece. The mandatory conditional cash offer is for all issued and paid-up ordinary shares in IPC… Read more »


Rowsley, Vietnam partner terminate JV project in Myanmar

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Singapore-based lifestyle real estate and investment company Rowsley Ltd, that is part-owned by billionaire Peter Lim, has called off its pact with Vietnam’s Hoang Anh Gia Lai Joint Stock Company (HAGL) to jointly build and manage a $550-million (S$748-million) mixed-use development in Yangon, Myanmar. The two companies had announced the deal in February… Read more »


A-REIT acquires The Kendall in Singapore for S$112m

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Ascendas Real Estate Investment Trust (A-Reit) has completed the acquisition of The Kendall at 50 Science Park Road for S$112 million, from Singapore Science Park Ltd, a wholly owned subsidiary of Ascendas Group, the sponsor of A-Reit, the company said Monday. The acquisition is expected to generate a net property… Read more »


Temasek, four other parties jointly buy London properties for $457m from Carlyle

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Singapore state investment firm Temasek Holdings and four others have agreed to buy two prime central London properties for 308 million pounds ($456.7 million), which the consortium will then redevelop. Temasek joins Malaysian property developer Amcorp Properties Bhd, owner of the Four Seasons hotels in Singapore and Bali Hotel Properties… Read more »


Hotel Properties acquires two London properties from Carlyle for $335m

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Singapore-listed Hotel Properties Limited has reached a deal with The Carlyle Group to buy two Bankside properties in London for £308 million ($335million). It will make the payment in two separate tranches. The company will initially pay 5 per cent, equivalent to £ 15.4 million. The remaining £ 292.6 million will be paid on… Read more »


Thailand set for a real estate boom along its borders

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Thailand’s border regions have have an influx of property developers keen to invest in condominiums and hotels. The real estate boom in the border towns has been led by the increasing trade and investment activity, in anticipation of the forthcoming Asean Economic Community (AEC). After Thailand set up special economic zones (SEZs) to… Read more »


VinaCapital’s real estate fund sells 15% in Sai Gon Quy Nhon

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VinaLand Ltd, a unit of Sun Wah Group-led investment fund VinaCapital, said Tuesday it was continuing the ongoing process of divesting from Vietnamese real estate companies, with the latest being the sale of 15 per cent stake in Sai Gon Quy Nhon Tourism JSC, that owns SGT Quy Nhon Hotel in… Read more »


GIC-Brigade JV acquires HUL’s property arm

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Indian real estate co Brigade Properties has reached a deal to acquire Brooke Bond Real Estates that owns 11.39 hectares of land in the city of Bengaluru, and is a subsidiary of consumer goods company Hindustan Unilever Ltd (HUL). Brigade Properties is a 51:49 joint venture between Bangalore-based realty company… Read more »