Property downturn prompt Chinese tourists to stay home
CHINA used to be the global tourism powerhouse, spending 1.7 billion yuan overseas at its peak. But the property downturn and loss of wealth has seen the middle class cut…
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Recent News
Sekisui almost double capital gain despite office uncertainty
DESPITE the ongoing impact of remote work on Tokyo’s office market, Sekisui House REIT has sold a major Tokyo investment for JPY54.6 billion (approximately US$364 million), which is almost double…
Jinmao checking out of 5-star Hilton resort for over US$250m
STATE-backed property developer China Jinmao is selling China’s first Hilton resort for over US$250 million. The developer, which is a subsidiary of state-owned Sinochem, has put the property on the…
MREIT expand Philippines office portfolio
FILIPINO property trust MREIT has gone on a major acquisition spree, buying six offices in the Philippines for PHP13.15 billion (approximately US$227 million). The properties included in the acquisition are…
Johor data centre site sold 200pc above book value
PROPERTY owners in Malaysia’s Johor Bahru are capitalising on the strong demand for data centres, with a development site selling for more than 200% above the current book value, for…
Megaworld earmarks PHP15bn for coastal township
FILIPINO real estate developer Megaworld will invest PHP15 billion (approximately US$260 million) to develop a new luxury beachfront township in the Philippines. To be delivered over the decade, the Ilocandia…
Nomura divests Tokyo office for JPY13.5bn
THE Nomura Real Estate Master Fund has sold a Shibuya office building in the heart of Tokyo, for JPY13.5 billion (approximately US$90.21 million) for a significant premium. The sale price…
Singapore development sales remain in the doldrums
IT was another lull month for property developers in Singapore, as homebuyers remain cautious and selective. According to the latest Knight Frank Monthly Developer Sales (September 2024), there was only…
Aseana pulls the plug on MYR165m hotel sale
MALAYSIAN property developer Aseana Properties the cancelled the MYR165 million sale of the Hotel Sandakan and the adjacent Harbour Mall. The London Stock Exchange-listed group said it has issued a…
Asia Property Journal Deals Watch
ASIA Property Journal’s weekly comprehensive wrap of property sales and leasing transactions across Asia. Retail Suzhou, China Financing provider China Huirong Financial is diversifying its business with the acquisition…
Sino-Ocean give offshore creditors good news
OFFSHORE creditors of Chinese state-backed property developer Sino-Ocean have received positive news. In a market update, the company said as part of its restructuring plan, it is expecting to generate…
Samty goes on acquisition spree
RENTAL housing real estate investment trust, Samty Residential, has acquired a portfolio of properties across Japan for over JPY6 billion (approximately US$40.1 million). Samty Residential has acquired 10 properties from…
Marimo REIT expands portfolio with six acquisitions
THE MARIMO Regional Revitalization REIT continues to diversify its portfolio with the acquisition of six properties including a hotel, student housing, retail and logistic facilities on an attractive yield of…
SkyWorld targets affordable housing segment
MALAYSIAN urban property developer SkyWorld Development has entered into a joint development agreement with PR1MA Corporation to deliver an affordable high rise apartment project in Kuala Lumpur. Set on a…
CDL making big splash along Singapore River
INTERNATIONAL real estate developer City Developments Limited (CDL) has unveiled a new mixed-use landmark and first redevelopment in the Singapore River Planning Area. The large-scale mixed-use development located at the…
Cathay Life pays a cool NT$2.73bn Taoyuan site
AUTOMOTIVE air conditioners manufacturer Everbrite Technology has sold a land parcel in Taoyuan City to insurer Cathay Life Insurance for over NT$2.73 billion (approximately US$85 million). The property located at…
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