MY Property Dealbook: Tadmax disposes land to 1MDB, UEM sells Imperia to Khazanah

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In two real estate deals, Malaysia based Tadmax Resources Bhd completed the disposal of a parcel of land in Pulau Indah, Selangor to 1Malaysia Development Bhd’s (1MDB) unit Ivory Merge Sdn Bhd for MYR294.38 million; while UEM Sunrise sold Imperia, an office tower in Johor, to Khazanah Tadmax disposes land to 1MDB… Read more »

Ascott Reit forays into US by acquiring hotel in Times Square for $163.5m

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Singapore-listed Ascott Residence Trust (Ascott Reit) has forayed into the United States of America by acquiring a hotel in New York Times Square for $163.5 million, the company announced Thursday. This 411-key asset – Element New York Times Square West hotel – is located in Midtown Manhattan. This acquisition comes… Read more »


SG Realty Dealbook: Sino Construction disposes stake; Mapletree buys Coles CDC; Sembcorp to develop industrial park in Vietnam

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Mergers and acquisitions among Singapore companies so far this week include Sino Construction disposing its shares in a Malaysian company, Mapletree making an inroad into Australia through its acquisition of a chilled distribution centre and Sembcorp obtaining exclusive rights to develop an industrial park in Northern Vietnam. Sino Construction disposes… Read more »


GIC unit to purchase Chennai land parcel for $86m

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Brigade Properties, a joint venture platform between realtor Brigade Group and Singaporean sovereign wealth fund GIC, will be purchasing a Chennai land parcel from Kansai Nerolac Paints for $86 million. The property is 15.86 acres and located in Perungudi, a Chennai suburb. “The acquisition of the property would be done either directly by… Read more »


SM-ALI Group consortium win $221.6m bid for property development in PH

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The SM-ALI Group, a consortium formed by two rival property giants in the Philippines, secured the winning bid of $221.6 million (P10 billion) for a portion of the South Road Properties (SRP) in Cebu City. Formed by SM Prime Holdings Inc with Ayala Land Inc (ALI) and its affiliate Cebu… Read more »


Thailand’s AIRA forms a subsidiary to foray into property biz

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Thailand-based holding company Aira Capital PCL (AIRA) plans to diversify into the property development business by setting up a subsidiary “Aira Property,” that hopes to enter into joint ventures with property developers during the second half of this year. AIRA holds the entire stake in Aira Property, which has a registered capital of 200 million baht… Read more »


Indonesia’s retailer Matahari launches new retail format

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PT Matahari Putra Prima Tbk (MPPA), a multi-format modern retailer in Indonesia, which operates Hypermart, Foodmart and Boston Health & Beauty, launched a new supermarket format targeted for the upper segment customers with “Foodmart Primo” trademark. The store was officially opened on Friday, June 26, 2015 and located at the… Read more »


Tan Hoang Minh acquires Ho Chi Minh City-based property for $66m

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Hanoi-based real estate firm Tan Hoang Minh Group has bought a property located in the heart of District 1, Ho Chi Minh City, for VND1.43 trillion ($66.2 million), the company announced on its website. The 3,000 square metre property is currently the headquarter of the Ho Chi Minh City Lottery… Read more »


IREIT Global buys Berlin property for S$217.7m; undertakes rights issue to fund deal

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Singapore-listed IREIT Global Tuesday said that it had reached a deal to acquire a property in Berlin for 144.2 million euros (S$217.7 million), marking its first acquisition since its initial public offering. The property is located in the district of Lichtenberg, and the company said this place had been witnessing… Read more »


Suntec REIT sells Park Mall for S$411.8m; forms redevelopment JV

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ARA Trust Management Limited, the manager of Suntec Real Estate Investment Trust (Suntec REIT) Monday announced that it would be selling Park Mall that is located within Singapore’s Orchard Road shopping belt for S$411.8 million. The REIT will sell this mail to Park Mall Pte. Ltd. Suntec REIT had acquired… Read more »