Tower REIT disposes assets for $38m

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Tower Real Estate Investment Trust (REIT) has disposed of 19 office parcels and 190 car park bays within Menara ING for MYR132.34 million ($37.8 million) cash, expected to provide a gain of MYR40.4 million ($11.5 million) for the trust. In a filing with Bursa Malaysia, Tower REIT said the proposed… Read more »

SG roundup: Ryobi Kiso, Poh Tiong, Lifebrandz

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Ryobi Kiso to jointly develop mixed-use property development in Bekasi Singapore listed Ryobi Kiso Holdings Ltd, ground engineering solutions provider, Monday said its wholly-owned subsidiary PT Mulia Indah Perkasa (MIP), has reached a deal with PT Eka Karya Konstruksi (EKKON) to jointly develop a mixed-use property development in Bekasi, Greater… Read more »


a-iTrust to buy $152m IT property in India

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Singapore listed Ascendas India Trust (a-iTrust), will shell out about S$190 million ($152 million approximately) to acquire a 1.5 million square feet IT property in Pune, India, the company said. The acquisition will be through a two-stage process.  a-iTrust will first subscribe to non-convertible debentures (NCD) amounting to S$54 million… Read more »


Parkway REIT sells 7 nursing homes in Japan

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Singapore listed property trust Parkway Life has sold seven nursing homes in Japan to Fortress Japan Investment Holdings LLC, a leading global investment firm, for ¥7,950,000,000 (approximately S$88.3 million or $66.7 million), the company said. The divestment comes within weeks of trust making two acquisitions in Japan. Last week, Parkway… Read more »


Soilbuild REIT buys IMI’s SG property for S$22m

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Philippine-based chip-maker Integrated Micro-Electronics Inc (IMI) has sold its Singapore property to DBS Trustee Limited  in its capacity as trustee of Soilbuild Business Space REIT for S$22 million (P757 million). As a follow up to this disclosure to the Philippine stock exchange last August 27, IMI said that its Singapore-based indirect… Read more »


PH-based Rockwell acquires 60% in ATRKE Land

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The Philippines’ premiere property developer Rockwell Land Corp (Rockwell Land) is planning to acquire a controlling interest in an upscale residential complex, Tribeca Project, south of Metro Manila. Rockwell Land disclosed this to the stock exchange on Tuesday. According to the this disclosure document, Rockwell’s subsidiary Rockwell Primaries Development Corp… Read more »


UAE’s Nakheel Group to invest in QuangNinh project

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Nakheel Group, a leading investment firm in Dubai, is planning to invest in the Ha Long Star complex, a QuangNinh based project with an investment outlay of $550 million. This was revealed by the Committee of Promotion and Investment Support at QuangNinh (QuangNinh IPA). The officials at Nakheel Group have already signed a memorandum… Read more »


Thailand’s WHA plans 2nd REIT for Q2 2015

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Encouraged by listing of its first real estate investment trust (REIT) -WHA Premium Growth Real Estate Investment Trust (WHART), Thailand’s commercial property player WHA Corp, is already preparing for its next REIT launch. The company is also hoping for a third overseas assets-based REIT listing on the Stock Exchange of… Read more »


Blackstone, CIMB invest in CDL’s Sentosa project

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The US private equity Blackstone Group LP and Malaysia’s CIMB Bank are investing in Singapore’s Sentosa Cove project in an S$1.5b ($1.19 billion) refinancing deal. Both companies are investing in Singapore’s CITY Developments Limited’s (CDL) Quayside Collection – an upscale integrated development on the resort island of Sentosa, whose assets… Read more »


Golden Land takesover KLAND, to form REIT for $304m

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Thailand based Golden Land Plc, a real estate company from the tycoon Charoen Sirivadhanabhakdi’s group, will be taking over Krungthep Land Plc (KLAND). Golden Land’s president Thanapol Sirithanachai said that it would buy all of the 1.78 billion shares of KLAND at the price of 2 baht ($0.06) each, from a… Read more »