Singapore: The Ascott expands holdings to Cambodia

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Singapore-based CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has extended its global footprint to Cambodia, a rapidly developing market. It will be managing its first serviced residence in the country –  Somerset Norodom – which will open in Cambodia’s capital and economic hub of Phnom Penh in… Read more »

Vietnam’s CII eases foreign ownership limit; eyes investments from global funds

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Vietnam’s listed construction firm Ho Chi Minh City Infrastructure Investment Corp (CII) is targeting fresh investments from US pension and insurance funds, by completely loosening up its foreign ownership limit, according to a report by local newswire Nhip cau dau tu. The plan was approved during CII’s extraordinary shareholder meeting… Read more »


AIRA Property, SENA & Sangfah forge JV to co-develop realty projects in Bangkok

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AIRA Property, property arm of AIRA Capital, has set up a joint venture firm with Sena Development PCL and Sangfah Construction and Engineering PCL, called Aspiration One Co, to co-develop realty projects in Bangkok. The new joint venture has a registered capital of 1 billion baht, divided into 100 million common… Read more »


National Australia Bank mulls trade sale of CIT stake: Report

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National Australia Bank (NAB), the largest shareholder of industrial landlord Cambridge Industrial Trust’s (CITs) manager, is considering the sale of its 56 per cent equity stake in the firm. According to a report from The Business Times, NAB’s group vehicle NabInvest Capital Partners, has received “non-binding expressions of interest” for… Read more »


Indonesia seeks to develop vibrant REITs market with proposed listing norms

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With the amendments in taxation and new listing guidelines, the Indonesia government is looking at developing its Real Estate Investment Trusts (REITs) market to boost property and infrastructure development in the country. The move is to get Indonesian companies to list their REITs in the home country instead of them… Read more »


SG Dealbook: KSH unit forms JV for Vietnam housing project; Koh-Samsung JV bags Changi Airport contract

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In a couple of business developments related to Infrastructure and housing, Koh Brothers-Samsung JV have bagged the Changi airport extension contract while KSH Holdings’ Vietnam unit will develop a major housing project in Ho Chi Minh City. KSH Holdings Vietnam unit forms JV for housing project KSH Holdings says that its… Read more »


Indonesia offers incentives to spur setting up of REITs

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Indonesia on Thursday announced tax incentives aimed at getting companies to revalue their fixed assets and to create real estate investment trusts (REITs). The moves are the latest in a series of policy changes the government has been rolling out since last month in a bid to spur economic growth,… Read more »


MY Realty Dealbook: UEM Sunrise plans $555m Melbourne project; Harrods Hotel plans scrapped; Stone Master buys YNL Properties

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The Malaysian property sector has seen some interesting deals made and scrapped recently, with local developer UEM Sunrise planning a big project in Melbourne while Qatar Holdings dropping plans for its first Harrods Hotel initially planned for in Kuala Lumpur. UEM Sunrise plans $555 million tallest structure in Melbourne Property developer… Read more »


SG Realty Dealbook: First REIT conducts asset swap with PT Saputra Karya; Eastern Holdings to pay costs for failed property disposal

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Singapore-based firms are active in exploring and conducting deals in the property market. First REIT is performing an asset swap with Indonesian assets, while Eastern Holdings has been ordered by the Singapore Court to pay pre-judgement charges for a failed property disposal. First REIT to conduct asset swap with PT Saputra… Read more »


Singapore’s GIC & US Tishman Speyer form 50:50 JV for Indian office space project

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Singapore-based sovereign wealth fund GIC and New York-based Tishman Speyer, a leading global developer, have joined hands to form a 50:50 joint venture (JV) to own Tishman Speyer’s Waverock office development project in Hyderabad, India, according to a statement. The company did not disclose the financial details. Waverock was originally designed… Read more »