Henry Cheng, chairman of New World Development, has listed a mega-mall (Image: New World Development).
New World Development seeks a buyer for the flagship mall located at Hong Kong International Airport. This report is today’s top headline. ESR is close to selling a Sydney data center site, and China Vanke hopes that some of its onshore banks will extend their loans. New World Said It Was Marketing $1.9B 11 Skies Mall in Hong Kong Airport
New World Development Said They Are Marketing $1.9B 11 Skies Mall in Hong Kong Airport
New World Development wants to sell its flagship 11 Skies Airport Mall in Hong Kong due to liquidity issues, according to sources familiar with the situation.
According to one person, the property was valued at HK$15 billion ($1.9billion) to HK$17billion. This means that New World is selling the project at a loss, considering they invested HK$20billion in it. The project is billed as Hong Kong’s largest shopping mall.Read More>>
ESR Close to Selling Sydney Data Centre
Australian Developer Coronation is stepping-up its ambitions to become one of the largest developers of rental housing in Australia and is circling a ESR data center site in Sydney’s Macquarie Park, for around A$85,000,000 ($55,000,000).
A private builder has targeted a site put up for sale by the Singapore-based industry giant last year, as ESR looked to cash in on a boom in the rapidly growing build-to-rent market.Read More>>
China Vanke said seeking to extend bank loans by 10 years
China Vanke wants to extend some of its home-country bank loans by up to 10 years, according people familiar with the issue, a move which could help the state backed developer reduce liquidity risk.
According to people who asked to remain anonymous when discussing private matters, the Shenzhen-based developer, one of China’s largest builders by contracted sales, made a preliminary offer to several major Chinese bank in recent weeks.Read More>>
Singapore UOL Prices S$225M Notes
UOL Treasury Services issued S$225,000,000 ($174.8 million in notes) at a yield of 2.78 percent, developer UOL announced Tuesday.
It is expected that the notes will be listed on Singapore Exchange on Tuesday. The notes are the first tranche in the fifth series under a S$2 Billion multicurrency, medium-term note program established by UTS back in November 2014. Read more>>
Frasers Centrepoint Trust Extends Management Of Northern Singapore Mall
The manager of Frasers Centrepoint Trust has announced Monday that it will automatically extend its management of Northpoint City’s South Wing for a period of 12 months. The renewal, which began on Monday, will result in economies of scale, and ensure continuity, as FCT manages both the North Wing and South Wing of the mall. Read more>>Patek Philippe Hong Kong Retail space taken over by Sneaker Shop.
Skechers is taking advantage of the slump in Hong Kong retail by taking over a space that was previously occupied by Swiss watchmaker Patek Philippe at Causeway Bay’s Russell Street.
According to Rickey Chen, managing director of Dorbo Realty, a 1,036 square feet (96 square metre), shop on the ground level of 50-52 Russell Street, was leased by Skechers for a period of three years, at HK$360,000 ($45.860) per month or HK$347 / square foot.Read More>>
Chinese purchases of US homes jump 83% despite tensions
Chinese investors remain the largest foreign group in US residential real-estate by dollar value and number. According to a National Association of Realtors report, they purchased $13.7 billion in US homes between April 2024 and March 2019, representing an 83 per cent increase from the previous year. Read more>>
Shares of Singapore’s CDL Jump after Director’s Retirement Announced.
City Development Ltd shares rose by more than 6 percent Wednesday following the announcement Tuesday evening that Philip Yeo would be retiring.
Yeo has served on CDL’s board since May 2009, and will retire as a non independent non-executive on 31 July. He had supported executive chairman Kwek leng Beng during his boardroom fight against his son, Sherman Kwek.Read More>>
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