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 »


Thai cabinet backs short-term moves to revive property sector

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Thailand’s cabinet on Tuesday approved short-term measures aimed at reviving the property sector and helping low- and middle-income earners to buy a home amid a struggling economy. The package includes fee cuts and relaxed mortgage conditions, Deputy Prime Minister Somkid Jatusripitak told reporters. “The measures are aimed at … reducing… Read more »


Norway’s sovereign wealth fund & CapitaLand preferred bidder for Singapore’s $3B Asia Square Tower

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A consortium led by Norway’s sovereign wealth fund, which also includes local developer CapitaLand Ltd. have emerged as the preferred bidder for Singapore’s Asia Square Tower, Bloomberg said in a report Tuesday. DEALSTREETASIA had earlier reported that Asset manager BlackRock Inc’s real estate unit had put Singapore’s Asia Square’s Tower 1 up for sale,… Read more »


Thailand’s Singha Estate, FICO to buy UK’s Jupiter Hotels portfolio for $243m

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In a major cross-border acquisition from a Thailand company, Singha Estate, a listed property firm under the Singha empire, has formed a joint venture with FICO Corporation to buy the British Jupiter Hotels portfolio of 26 Mercure-brand hotels for 160 million pounds ($243 million) from Patron Capital and Royal Bank of… Read more »


India: Piramal Fund Management to invest $77m in plotted development projects

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Piramal Fund Management Pvt. Ltd, the investment arm of the Piramal Group, is set to launch a new financing scheme to invest nearly $77 million (Rs.500 crore) in plotted development projects, a top executive said. It will raise money from high net-worth individuals through its so-called discretionary Portfolio Management Service… Read more »


India: Kolte Patil buys out 100% stake in Corolla Realty for $25m

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Pune-based real estate firm Kolte Patil Developers Ltd has bought out its two joint venture partners in a Pune based real estate project. In a notification to stock exchanges on Monday, Kolte Patil said that it now controls 100% of Corolla Realty Ltd, a special purpose vehicle (SPV), after spending… Read more »