Global Oriental pulls the plug on multi-billion ringgit project
GLOBAL Oriental has exited its multi-billion ringgit project in the Genting Highlands after selling the land to Malton's property developer arm Pembinaan Gapadu Sdn Bhd (PGSB) for MYR 65 million.…
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Yuexiu repossesses Guangzhou site for US$700m owed
REAL estate developer Yuexiu Property has repossessed a major land parcel in Guangzhou to recover RMB5 billion (approximately US$700 million) it was owed. Yuexiu Property has reached an agreement with…
Taeyoung divests Seoul HQ as part restructuring
DEBT distressed Korean builder Taeyoung Engineering & Construction Co has sold its headquarters in Seoul to shore up its books. The property was purchased by TY First Corporate Restructuring Real…
Trio Capital makes maiden entry into Thailand
HOSPITALITY real estate investment firm Trio Capital has launched expanded into Thailand with the acquisition of the Hilton Garden Inn Phuket Bang Tao. The acquisition is the company's first investment…
Japanese partners sell Tokyo office to Taiwanese
A REAL estate joint venture has sold a Tokyo office to a Taiwanese conglomerate for JPY14 billion (approximately US$96 million). The partnership between real estate company Tokyo Tatemono and property…
Fukuoka REIT recalibrates portfolio
REGION specific real estate investment trust Fukuoka REIT is running hot in the late stages of summer, buying and selling over JPY19 billion (approximately US$130 million) worth of assets. The…
Koramco in KRW300bn office play
KOREA’s largest REIT manager Koramco has traded almost KRW300 billion (approximately US$220 million) worth of offices in Seoul. In the first transaction, Korean traditional foods manufacturer Singsong Food Corporation has…
Sunway REIT goes shopping in Mont Kiara
SUNWAY Real Estate Investment Trust, one of Malaysia’s largest diversified REITs, has acquired a shopping centre in Kuala Lumpur’s luxury neighbourhood of Mont Kiara for MYR215 million (approximately US$50 million),…
Micron computes US$230m for new facility
LEADING American semiconductor supplier Micron Technology is scaling up its manufacturing capabilities with the acquisition of two plants in Taiwan for NT$8.1 billion (approximately US$253 million). Micron Technology’s subsidiary Micron…
KIP REIT goes on acquisition spree
MALAYSIA’S KIP REIT has acquired a portfolio of four properties for a total price of MYR98.30 million. The REIT has acquired the properties from different vendors in four separate agreements.…
Asia Property Journal Deal Watch
ASIA Property Journal’s weekly comprehensive wrap of property sales and leasing transactions across Asia. Retail Kuala Lumpur, Malaysia Revenue Group has sold a freehold retail property in Kuala Lumpur…
Icheon logistics warehouse sells for KRW70bn
KB Real Estate Trust has sold a logistics warehouse facility in Icheon, about one hour from downtown Seoul for KRW69.33 billion (approximately US$52 million). The Logistics Center is located at…
ESR Logos REIT sells Singapore asset for 16pc premium
THE ESR-LOGOS REIT has sold an industrial building in Singapore for S$35 million. The sale price represents a 16.7% premium above the valuation of S$30.0 million. Located at 81 Tuas…
Lotte makes hotel reservation in Gangnam
KOREA’S largest listed REIT, Lotte REIT, has diversified into the hotel and lodging sector with the KRW300 billion (approximately US$250 million) acquisition of a prime property in Gangnam. The trust…
Lendlease and Warburg Pincus bring to life new JV
LENDLEASE and Warburg-Pincus have minted their new joint venture platform with the S$1.6 billion acquisition of life sciences, technology, advanced manufacturing and logistics assets in Singapore. The 50-50 joint venture…
China Petroleum divests Taiwan development
STATE-owned chemicals manufacturing and property development company, China Petrochemical Development Corporation, has divested a portfolio of properties for more than NT$7.616 billion (approximately US$240 million). The company which has interests…
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