SGREIT to acquire Myer Centre Adelaide in AUS for $221m

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Starhill Global REIT (SGREIT) has entered into the sales and purchase agreement to acquire a freehold property Myer Centre Adelaide in Australia for $221.64 million (S$302.4 million) in cash, according to its manager YTL Starhill Global REIT Management Limited. Located in Adelaide’s busy retail CBD core and the only retail… Read more »

VinaLand divests from Vietnam-based Vung Bau project

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VinaLand Ltd, which is VinaCapital‘s Cayman Island incorporated real estate investment fund, divested its 55 per cent stake in the Vung Bau project, this month. The project is located in Phu Quoc island in the southern Kien Giang province of Vietnam. The project site was acquired by the London Stock Exchange listed investment vehicle in… Read more »


Cotec Land divests from units to restructure debts

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Real estate developer Cotec Land, a subsidiary of the Vietnam-based Cotec Construction Technology and Material (Cotec Group), has offloaded in its investee companies to restructure debt. The company’s short-term debt in 2014 exceeded its short-term assets – $35.6 million compared to $23 million – and this has forced Cotec Land… Read more »


GIC to acquire Shriram SEZ in Chennai for $136m: Report

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Singapore’s sovereign wealth funds, GIC is in talks to acquire early 2 million sqft IT special economic zone in Chennai, India, from the Shriram Group for $136 million, a report said. The deal, if it materialises, will mark its third major commercial office purchase in in India since December 2014. It will… Read more »


Singapore’s Amara Holdings opens hotel in Bangkok

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Amara, an upscale Singaporean hotel brand, has expanded to the Thai market with the new Amara Bangkok, which will be under the hospitality arm of Amara Holdings Limited, Amara Hotels & Resorts. The property is located in Surawong, parallel to Silom and Sathorn Roads in Bangkok’s Central Business District (CBD) and in the heart… Read more »


SG’s Royal Group buys DoubleTree in KL for $106m

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Real estate tycoon Asok Kumar Hiranandani of the Royal Group has bought Kuala Lumpur luxury hotel DoubleTree by Hilton, the second parcel of The Intermark to be sold in a week, local media reported. The Royal Group has entered into a sales and purchase agreement to acquire the 540-room hotel… Read more »


Thai construction co ITD gains more land in Dawei project

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Thai construction giant Italian-Thai Development Plc (ITD) has received the right to develop the deep-sea port and infrastructure on 45 square kilometres of land, a substantial increase from the 27 square kilometres it was allotted in the initial phrase, for the government-backed mega project, Dawei Special Economic Zone (SEZ), in… Read more »


TICON forms JV with Indonesia’s property developer & Japan’s Mitsui

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Ticon Industrial Connection PCL (TICON) has set up a joint venture company with Indonesian property developer PT Surya Semesta Internusa Tbk (SSI) and Japan’s Mitsui & Co to invest in factories and warehouses for lease business in Indonesia. The newly-established firm, called PT SLP Surya TICON Internusa (SLP), has a registered… Read more »


OCBC to divest from 30 shophouses worth between $110m-$147m

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Overseas Chinese Banking Corporation (OCBC) of Singapore has announced plans to divest more than 30 shophouses and strata shop units across Singapore from its portfolio of assets, with a value estimated at between S$150-200 million ($110-147 million). The shophouses are located in neighbourhoods like Havelock, Geylang, Upper Thomson and Upper Serangoon, while strata… Read more »


PH property developer MRC to form solar energy firm

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Listed property developer MRC Allied Inc (MRC) is planning to form a company that will engage in the production of renewable energy, specifically solar energy. “In line with the present policy of the government to promote and support renewable energy sources, the company finds it timely, to venture into renewable energy… Read more »