Indonesian PE Syailendra Group, Egypt’s Orascom, workers agency tie up for $250m affordable housing project

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Indonesian private equity company Syailendra Group, Orascom Housing Communities (OHC) of Egypt and workers’ social security agency BPJS Ketenagakerjaan have signed a memorandum of understanding (MoU) to develop an integrated affordable town for Indonesia’s low-income group on a 200-hectare land in West Java at a total investment of $200-$250 million. Suggested Story : Falcon… Read more »

India: Tata Housing in talks to raise $493m in PE for luxury home projects

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Real estate developer Tata Housing Development Company Ltd is in advanced talks to raise Rs 3,200 crore ($493.4 million) from a consortium of institutional investors for its luxury housing projects, an article in The Economic Times said citing sources. The deal is in the final stage and the company is clearing… Read more »


Malaysia’s Lee family expands IOI Properties’ landbank via $370m acquisitions

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Property developer IOI Properties Group Berhad has entered into a conditional share sale agreement with its founder, Lee Shin Cheng and wife Hoong May Kuan, to acquire the entire equity interest in Mayang Development Sdn Bhd and Nusa Properties Sdn Bhd for MYR1.583 billion ($370 million). Lee is the executive chairman… Read more »


Thailand’s Singha Estate plans mega M&A push; to launch two REITs in 2016

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Thailand-based Singha Group’s real-estate arm Singha Estate PCL has announced an aggressive acquisition strategy as it draws up plans to buy 65 hotels in domestic and overseas markets by 2020. The company has set aside an investment budget of over 100 billion baht ($2.83 billion) over the next four-year period to be… Read more »


SG Realty Dealbook: CRT rejects offer for Kyoto asset; Outbound investments focus on Australia, UK

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In real estate developments, Croesus Retail Trust has rejected a purchase offer for one of its Kyoto properties while out-bound Singapore investments appear to be skewed to Australia and the UK markets. CRT reject offer for Kyoto asset Croesus Retail Asset Management, the trustee-manager of Croesus Retail Trust (CRT), has declined an offer… Read more »


MY Dealbook: Milux partners RGF for housing project; Genting sells land to sister firm

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In two major property transactions, Malaysian companies Milux and Genting Malaysia engaged in a development joint venture and land sale, respectively, with related parties late last week. Milux in JV with major shareholder to develop housing project Milux Corp Bhd is partnering RGF Cabaran Sdn Bhd to jointly develop 12… Read more »


SG Realty Dealbook: CapitaLand to sell Rivervale Mall; Perennial enters into anchor lease for new hospital

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CapitaLand’s mall REIT is divesting a small suburban shopping mall to a PE fund, while Perennial Real Estate has entered into an anchor lease for a new ParkwayHealth medical facility in China. CapitaLand to sell Rivervale Mall to PE fund for $137.6m CapitaLand Mall Trust Management (CMTML), the manager of… Read more »


Indian realty major Unitech to raise up to $215m to speed up project execution

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Unitech Ltd, one of the largest developers in the country by market value, is planning to raise Rs.1,300-1,400 crore in a bid to speed up construction of its existing projects and overcome a delivery backlog and liquidity crunch. It plans to raise the money by selling land and stakes in… Read more »


Singapore: CapitaLand confirms role in Asia Square deal

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CapitaLand recently issued a public statement to clarify that it is currently in negotiations with the vendor of Asia Square Tower 1 for a potential transaction. DEALSTREETASIA had recently reported that BlackRock was seeking a $3 billion bid for the 43-storey tower, which counts firms like Google, Citigroup and PE major KKR amongst its tenants. Headquartered and… Read more »


Singapore: Perennial Realty’s retail bond issue oversubscribed,considers increase to $215m

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The retail bonds issue of Perennial Real Estate Holdings, involving a placement tranche of up to S$100 million ($71.7 million) for three-year retail bonds carrying a fixed interest of 4.65 per cent per annum, has been oversubscribed, Perennial announced on Wednesday. Despite an increase in the amount available for subscription up to the… Read more »