By Mars Woo
El Salvador becomes the 15th international market that Revolution Precrafted is foraying into.
Private equity inflows in real estate rose 15% year-on-year to $2.6 billion in the January-March quarter, eclipsing the first quarter of the past 11 years, said property consultancy Cushman and Wakefield.
Apollo will take control of JP Morgan India Property Fund and JP Morgan India Property Fund II as part of the deal.
The property investment arm of Germany’s Allianz SE expects China to account for up to 50 percent of its Asia-Pacific fund allocation going forward from 40 percent now.
Property consultants said the inability to find large projects and challenges of dealing with local bodies have delayed their plans. Besides, the Chinese government recently curbed outbound investments in sectors like real estate.
The company’s move is aimed at strengthening on-going businesses in its core markets.
The average parking space now goes for about HK$2.25 million, a more than sixfold increase since 2006. That makes the city’s housing market, the world’s least affordable, look tame by comparison.
Vietnam’s real estate market has attracted foreign capital to the tune of $5.54 billion, accounting for 27.3 per cent of total FDI poured into the country in the first half of the year.
ESR also announced the appointment of Philip Pearce as its CEO in Australia.
Korea’s National Pension Service is reportedly seeking to buy the building for more than $1.4 billion, ahead of bidders including Hong Kong’s CK Asset Holdings and Pontegadea Inversiones SL, the property company owned by billionaire Amancio Ortega.