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 »


Myanmar construction association’s public arm to sell shares in October

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Myanmar Construction and Development (MCD) Public Co Ltd, set up by Myanmar Construction Entrepreneurs Association (MCEA), will sell its shares to the public in October, a top official of the association said. Each share will be priced at K10,000 ($10), said U Kyaw Paing, deputy chairman of MCEA. The public… Read more »


Business tycoon Oei Hong Leong offers 17 cents per share cash offer for realty co IPC Corp

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Indonesian-born business tycoon Oei Hong Leong has offered to buyout Singapore-listed realty company IPC Corporation Ltd that is engaged in the investment and development of properties in Asia Pacific and America, at 17 cents apiece. The mandatory conditional cash offer is for all issued and paid-up ordinary shares in IPC… Read more »


Rowsley, Vietnam partner terminate JV project in Myanmar

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Singapore-based lifestyle real estate and investment company Rowsley Ltd, that is part-owned by billionaire Peter Lim, has called off its pact with Vietnam’s Hoang Anh Gia Lai Joint Stock Company (HAGL) to jointly build and manage a $550-million (S$748-million) mixed-use development in Yangon, Myanmar. The two companies had announced the deal in February… Read more »


A-REIT acquires The Kendall in Singapore for S$112m

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Ascendas Real Estate Investment Trust (A-Reit) has completed the acquisition of The Kendall at 50 Science Park Road for S$112 million, from Singapore Science Park Ltd, a wholly owned subsidiary of Ascendas Group, the sponsor of A-Reit, the company said Monday. The acquisition is expected to generate a net property… Read more »


Temasek, four other parties jointly buy London properties for $457m from Carlyle

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Singapore state investment firm Temasek Holdings and four others have agreed to buy two prime central London properties for 308 million pounds ($456.7 million), which the consortium will then redevelop. Temasek joins Malaysian property developer Amcorp Properties Bhd, owner of the Four Seasons hotels in Singapore and Bali Hotel Properties… Read more »