SG Realty Dealbook: Lum Chang, CIT acquire commercial and industrial assets

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Singapore real estate sector witnessed a number of acquisition deals in the commercial realty space, this week. While Lum Chang acquired an office building through its subsidiary UKPI, Cambridge Industrial Trust (CIT) bought an industrial asset located at Benoi Road in the Tuas-Jurong industrial district. Lum Chang buys London office building for… Read more »

Frasers Hospitality acquires Sydney hotel for A$224m

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Singapore listed Frasers Hospitality Trust said Monday it had reached a deal to acquire five-star heritage-listed hotel in Sydney – Sofitel Wentworth – for A$224 million ($236 million). This marks Frasers Hospitality Trust (FHT)’s first acquisition since its initial public offering in June last year, and its third hospitality asset in… Read more »


Vietnam’s Ninh Van Bay to sell projects amid financial burdens

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Ninh Van Bay Travel Real Estate JSC, or Ninh Van Bay, is looking to sell its projects to raise capital for operation. The turmoil in the Vietnamese real estate market in 2014 affected the company’s capability of raising funds, mainly due to sluggish demand, the company said in a statement…. Read more »


Oxley incorporates subsidiary in Myanmar

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Singapore-based property developer Oxley Holdings Ltd announced that it has incorporated a subsidiary in Myanmar in line with the group’s expansion plans. The subsidiary – Oxley Consultancy & Management Company Limited – will have an issued and paid-up capital of $50,000 comprising 50,000 shares of $1 each, the company said… Read more »


Goldman Sachs, Qatar Investment Authority bid for Hanoi’s tallest building

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Keangnam Hanoi Landmark Tower, the highest building in Hanoi, Vietnam, valued at $1 billion, has been reportedly put on sale; interested international investors include, Goldman Sachs and the Qatar Investment Authority (QIA). The Korea Economic Daily cited sources, saying that both the Goldman Sachs and the QIA have made their respective offers for the acquisition of… Read more »


AM alpha sells Sydney asset, strengthens Asia Pacific investment

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AM alpha, a Munich based real estate family office that has Asia operations headquartered in Singapore, has successfully completed the sale of 309 George Street, a retail office building in the heart of the Sydney central business district, the company announced on Wednesday. In addition, AM alpha said that it… Read more »


Thailand’s largest furniture producer diversifies into real estate, acquires 2 projects for $11m

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Thailand based Fancy Wood Industries PCL , one of the world’s largest wood and rubber wood furniture producers, has set up a new subsidiary – Fancy Estate Company – to acquire two housing projects worth 355 million baht ($11.09 million), in Thailand. The new company, which has a registered capital… Read more »


Spanish hotel chain Melia to manage HAGL’s hotel in Myanmar

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Spanish hotel chain Melia has tied up with the Myanmar-based hotel property developer Hoang Anh Gia Lai Group (HAGL) through a hotel management contract signed on April 30, the Vietnamese company announced. While the deal value was not revealed, HAGL-invested hotel in Yangon – Melia Yangon – will join Melia’s network of… Read more »


Singapore’s Far East Orchard buys four student accommodation properties in UK

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SGX-listed Far East Orchard Limited said it has acquired a portfolio of student accommodation properties within Shieldfield, Newcastle upon Tyne, United Kingdom for £40.9 million ($62 million) The investment involves acquiring two land sites for development into purpose-built student accommodation, an existing student accommodation, and another student accommodation undergoing development…. Read more »


Challenging times ahead for Thailand’s realty sector

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Thailand’s real estate sector has been under immense pressure due to the slower-than-expected economic recovery. Suspended projects and large unsold inventories, coupled with stricter banking norms has led to liquidity crunch. Small and medium-sized property developers are the most affected  especially after the banking norms for loan approval became stricter. A broker, who… Read more »