Singapore: GIC forms JV with Macerich Company to invest in five US retail assets

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Singapore’s sovereign wealth fund GIC on Thursday said it formed a joint venture with US-listed retail real estate investment trust – Macerich Company – to buy a 40 per cent stake in five retail assets in the United States. The transactions are slated to close by the first quarter of… Read more »

Norway’s state fund eyes property investments in Singapore

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Norway’s $819-billion Government Pension Fund is seeking to purchase properties in Tokyo and Singapore in the coming months, according to a key executive. A Reuters report noted that the fund, set up from revenues generated by Norway’s oil and gas production, has previously acquired “…office blocks, shopping malls and other properties in key cities in… Read more »


Thailand: Real estate developer Proud Residence raises $63m from HK’s Fulcrum Cap

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Proud Residence Co, the Park 24-condominium developer in Thailand has signed an investment agreement worth 2.3 billion baht ($63.25 million) with Hong Kong-based boutique property investment firm Fulcrum Capital Ltd. With $500 million of assets under management, Fulcrum Capital will acquire one of the six high-rise buildings of Park 24 on… Read more »


India: PE funds invest $2.4b in 53 real estate deals this year

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Foreign institutional investors (FIIs) and the private equity (PE) funds made a beeline to invest in residential and commercial projects this year, reinforcing their faith in India’s real estate sector, amid a two-year-long slowdown that continues to see tepid sales and an inventory pile-up. PE funds invested about $2.4 billion… Read more »


Indian property firm IndoSpace to list REIT in Singapore: Report

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Indian industrial property developer IndoSpace, which is backed by Everstone Capital and US-based industrial REIT firm Realterm Global, is considering an initial public offering (IPO) of its REIT in Singapore, according to sources cited in a report by The Edge Markets. According to the report, IndoSpace is currently discussing the IPO privately with investment… Read more »


India: Carnival Group buys L&T’s commercial real estate project in Chandigarh for $275m

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Carnival Group, promoted by Shrikant Bhasi, is on a buying spree. Mumbai-based Carnival Group on Wednesday agreed to buy the commercial real estate projects of Larsen and Toubro Ltd (L&T) in Chandigarh for $275 million (Rs.1,785 crore). This commercial real estate project of India’s largest engineering and construction firm includes… Read more »


India: Godrej Properties sells 435,000 sq. ft BKC office space to Abbott for $228m

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Pharmaceutical firm Abbott India Ltd on Wednesday bought 435,000 sq. ft at Godrej BKC in Mumbai’s Bandra-Kurla Complex for $228 million (Rs.1,479 crore) from its developer Godrej Properties Ltd to set up a corporate office. Godrej Properties informed BSE that it has closed India’s largest commercial real estate deal with a… Read more »


Indonesia stays key SEA market for realty player Crown Group Australia

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Crown Group Holdings, one of the largest private property developers in Australia, has reported a record transaction value through the sale of its latest Infinity by Crown Group, which was launched in August. The company said it managed to sell Infinity by Crown Group property products worth AUS$380 million (US$264 million)… Read more »


Singapore: Croesus Retail Trust to acquire Japanese retail mall for S$95.2m

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Singapore-listed Croesus Retail Trust said it has reached a deal to buy Torius Property, a retail property located in Fukuoka, Japan, for JPY8 billion (S$95.2 million), through debt and equity financing. The Trust said the transaction represented a  3.7 per cent discount to valuation of JPY8.3 billion for this mall…. Read more »


Indonesia Dealbook : Archipelago International to expand into SEA; HK Artyzen expands hotels brand to Asia

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Hospitality groups are expanding operations with the Indonesia-based Archipelago International planning to expand across Southeast Asia in collaboration with Worldwide Franchise Associates (WFA) even as the Hong Kong-based Artyzen Hospitality Group expands its ‘Citizen’ hotels brand into Asia. Archipelago brings seven hotel brands to SE Asia market In partnership with WFA, Archipelago International will… Read more »