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 »


Thailand’s Glory ACME ventures into UK through JV with The Crown Estate

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Glory ACME Limited (GA) – a joint venture (JV) between Thailand’s listed Polaris Capital PCL (POLAR) and UK’s property expert Jonathan Lam – together with The Crown Estate has co-invested  more than 5.6 billion baht ($165.68 million) in The Sherwood Condominium, London, This is its first deal after POLAR sold 51… Read more »


BTS in talks with Thailand’s Transport Ministry to develop SRT land

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Thailand-based BTS Group Holdings has proposed a plan to develop the State Railway of Thailand’s (SRT) land, to the Transport Ministry. The estimated investment for this development plans is about 10 billion baht. BTS’s president Khiri Kanjanapas met the Transport Minister Prajin Juntong last week to discuss the development of 359 rais of land that will have four projects. The first project… Read more »


Encorp, Felda to develop $1.3b township

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Encorp Bhd, together with the Federal Land Development Authority (Felda) will develop an integrated township in Bukit Katil, Malacca, with an estimated gross development value (GDV) of MYR4.9 billion ($1.3 billion). “We are planning a mixed development in Malacca. Spanning 640.98 acres (259ha), the leasehold land is owned by Felda and Encorp… Read more »