Property

Soilbuild REIT disposes 72 Loyang Way asset for $34.1 mil with remaining lease of 19 years
SINGAPORE (Mar 21): Soilbuild Business Space REIT (Soilbuild REIT) has agreed to sell its industrial property at 72 Loyang Way, and all of its mechanical electrical equipment, to Kim Hock Enterprise for a total consideration of $34.08 million. The REIT is expecting net proceeds of about $34.055 million after accounting for divestment-related expenses, resulting in an estimated net gain of ...
KKR raising first Asia real estate fund, targeting US$1.5 billion
HONG KONG (Mar 21): Global investment powerhouse KKR & Co Inc is raising its first Asia-focused real estate fund, targeting US$1.5 billion ($2 billion) as it looks to deepen its real estate portfolio in the region, said people with knowledge of the matter. The New York-headquartered private equity firm is moving toward first-close of the fund late in the second quarter, the people said, ...
Singapore, Paris, Hong Kong tie for world's most expensive city
(Mar 19): Move over Singapore — the world's most expensive city has two new rivals. After topping the Economist Intelligence Unit's Worldwide Cost of Living Survey for five years, Asia's Lion City has been joined by Paris and Hong Kong in a tie at the top of the table. Zurich and Geneva rounded out the top five, while New York and Los Angeles reclaimed spots in the top 10 — ranking in ...
Oxley's potential $950 mil deal falls through after Gracious Land defaults on $38 mil deposit
SINGAPORE (Mar 20): Oxley Gem, a subsidiary of Oxley Holdings, has terminated the letter of intent (LOI) it received from Gracious Land in Jan for the $950 million purchase of its Mercure and Novotel hotels, after not receiving a subsequent deposit of $38 million when it was due. In a late night filing on Tuesday, the group says Gracious Land has requested for a refund of the initial $9.5 ...
CapitaLand Commercial Trust said to pursue $1.5 bil Duo office tower
SINGAPORE (Mar 20): CapitaLand Commercial Trust (CCT), Singapore’s biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said. The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo ...
Lendlease reportedly gunning for US$500 mil with intended retail REIT listing on SGX
SINGAPORE (Mar 19): Australia-listed developer Lendlease Group is planning to list a real estate investment trust (REIT) of its retail assets on the Singapore Exchange, according to sources of Thomson Reuters’ IFR Asia. Citing people with knowledge of the transaction, the online article published today said the group is planning to raise up to US$500 million, or $675.3 million, from the ...
Far East Orchard adds 3 dorms to UK portfolio for $99 mil
SINGAPORE (Mar 17): Far East Orchard has acquired a portfolio of three freehold student accommodation properties in the UK for £55.0 million ($98.7 million). The newly acquired properties are the 133-bed Harbour Court and 166-bed St Lawrence House in Bristol, and The Glassworks in Liverpool with 323 beds. With a total of 622 beds, the latest acquisition brings Far East Orchard’s total ...
Singapore home sales inch higher in sign of residential recovery
SINGAPORE (Mar 15): Private-home sales in Singapore rose in February, one signal the market may be recovering from cooling measures implemented last year. Developers sold 455 units, a 4.4 percent increase on January’s 436, the Urban Redevelopment Authority said in a statement Friday. In July, the government imposed higher stamp duties and tougher loan-to-value rules to choke off a sudden ...
Neo Group to consolidate & shift operations to upcoming high-tech facility at Jurong
SINGAPORE (Mar 15): Catering company Neo Group is moving from its headquarters from Enterprise Road to 30B Quality Road at Jurong, where the group intends to construct a high-tech catering hub and integrated facility spanning 300,000 sq ft and 10 storeys high.  The facility broke ground today, and is scheduled for completion in 4Q20. In a press release on Friday, Neo Group says its ...
Oxley accepts expression of interest for $1.03 bil sale of Chevron House
SINGAPORE (Mar 14): Mainboard-listed property group Oxley Holdings could be selling Chevron House in Singapore’s central business district for $1.025 billion – just 15 months after acquiring the property for $660 million in December 2017. In a filing to SGX on Thursday, Oxley says its wholly-owned subsidiary, Oxley Beryl, has accepted an expression of interest from a US-based real estate ...