Thai tourism recovery to drive commercial property in 2024
THAILAND'S ongoing tourism recovery is set to drive the country's commercial real estate sector in 2024, according to JLL Thailand. According to JLL, Thailand’s real estate market will demonstrate resilience…
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Asia Property Journal Deal Watch
ASIA Property Journal’s weekly comprehensive wrap of property sales and leasing transactions across Asia. Kenedix acquires Fukuyama City neighbourhood retail Kenedix Real Estate Fund Management’s KDX Realty Investment Corporation…
Travellers have more Choice in Japan
NEW York Stock Exchange-listed Choice Hotels International has expanded its presence in Japan by adding 22 properties. The company’s subsidiary Choice Hotels Asia-Pac in conjunction with Choice Hotels Japan have…
China Overseas property sales fall by 33pc
HONG Kong-based real estate developer China Overseas has reported weaker property sales across its businesses in the year to May 2024. Property sales by value totalled RMB19.700 billion, reflecting a…
Japanese group expands in Waikiki
JAPAN’S Financial Partners Group Co has acquired a rare hotel conversation opportunity in heart of Waikiki, Honolulu, Hawaii. FPG has acquired the Hyatt Centric Waikiki Beach, which comprises a 230-rooms…
Luxury retail rents continue to recover
TSIM Sha Tsui in Hong Kong held on to the title as the world’s most expensive luxury retail destination, whilst Ginza Tokyo in Japan placed fifth. According to Savills’ latest…
Brookfield sells Seoul hotel for significant discount
CANADA'S Brookfield Asset Management has sold the five-star Conrad Seoul hotel in South Korea to Singapore's ARA Asset Management for heavily discounted price of KRW 400 billion (US$289 million), more…
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…
Stable property values limit Asia Pacific investors debt liabilities
PROPERTY investors in Asia Pacific face a relatively small funding gap of US$8.4 billion on US$257 billion of outstanding senior commercial real estate debt, due to limited asset repricing in…
Receivers to sell Taipei’s newest skyscraper at centre of scandal
RECEIVERS in offshore companies that indirectly hold Sky Taipei in Taiwan, have appointed agents JLL to sell the under-construction development which has attracted a fair share of controversy in recent…
CapitaLand Ascott graduates to full owner of US student housing
ASIA PACIFIC’S third largest real estate fund manager, CapitaLand, through CapitaLand Ascott Trust (CLAS) has acquired the remaining 10% interest in a student accommodation property in South Carolina, United States.…
Embassy REIT gets a foothold in Chennai
ASIA’S largest office REIT, Embassy REIT, has completed acquisition of the Embassy Splendid TechZone a Grade-A business park in Chennai, capital of Tamil Nadu state, in southern India. The ₹1,185…
HKL divests Tokyo capsule hotel
HONG Kong property developer and investment group Hon Kwok Land has sold a capsule hotel in Japan’s capital of Tokyo for approximately JPY1,872.5 million (approximately HK$93.6 million). The property was…
Singapore receives major boost with $775m sale
IN a big shot in the arm for the local commercial real estate market, the Mapletree Pan Asia Commercial Trust has sold a premium office building in Singapore, the Mapletree…
CDL wins tender to buy Delfi Orchard for S$439m
DEVELOPER City Developments Limited (CDL) has been awarded the tender to buy the Delfi Orchard, a commercial building within a stone’s throw of Singapore’s most prestigious residential neighbourhoods for S$439…
Sekisui buys in Seattle
JAPAN'S Sekisui House REIT has bought a $USD328 million residential tower in Seattle in the United States. Two special purpose companies invested in by Sekisui House REIT acquired The Ivey on…
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