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…
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Asia Pacific appetite for flexible workspace continues to grow
DEMAND for flexible workspace continued to grow throughout the Asia Pacific, despite subdued market conditions across 2023. According to The Instant Group’s 2024 APAC Flexible Workspace Market Review, demand for…
Vietnamese developer who swindled $41bn receives death sentence
A Vietnamese property tycoon has been sentenced to death in one of the world’s biggest-ever fraud cases, with total damages estimated at a staggering A$41.3 billion. Three hand-picked jurors and…
Japan’s listed Loadstar Capital dabbles in luxury hotels
EXCLUSIVE: LISTED Japan based property company LoadStar Capital has purchased six hotels & resorts from development group NTT Urban Development Corporation. The price remains undisclosed but Asia Property Journal estimates the…
Flexible workplace demand growing in Thailand
ASIA Pacific and Australia flexible workspaces provider, The Flexi Group, is expanding Thailand’s capital to capitalise on rising demand. The Common Ground Ploenchit will be spread over two floors in…
Valuers beware – IVS to include ESG from 2025
OPINION: LANDLORDS need to start preparing for more questions from valuers about an array of different ESG elements for assets following changes to the International Valuation Standards (IVS). The IVS…
Digital Core expands stake in Osaka data centre
SINGAPORE Exchange-listed Digital Core REIT has bought an additional 10.0% interest in a half a billion dollars Osaka data centre, solidifying its presence in the dynamic Asia Pacific market and…
Straits flush despite industrial property devaluation
SINGAPOREAN group Straits Trading Company has sold an Adelaide distribution centre it developed for $52.7 million – nearly $12 million below book value. The 34 Share Street property in Kilkenny,…
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…
Trophy asset offered by Knight Frank Singapore
AGENTS Knight Frank is offering a rare trophy asset of two adjoining conserved shophouses in the heart of the Telok Ayer Conservation Shophouse enclave for sale by Expression of interest in…
JLL reinforces commitment to Asia Pacific
NEW YORK listed real estate advisory JLL (NYSE: JLL) has strengthened its commitment to the Asia Pacific region with two major appointments to its team based out of Singapore. JLL announced that…
Asia-Pacific double value of offshoring, Knight Frank
DESPITE a challenging business environment, the Asia-Pacific offshoring market is forecast to more than double to USD$185.1 billion by 2032, according to Knight Frank. Growth is expected to drive an additional…
15 year high for Singapore Rents, JLL
SINGAPORE'S office rents have staged a remarkable performance in the first quarter of 2024 with rents resuming their upward climb, according to research by JLL. Singapore office leasing briefly slowed…
Blackstone sells Seoul asset for $USD587.8 million
NEW YORK listed private equity group Blackstone (NYSE:BX) has sold Arc Place office investment in Seoul, South Korea for $US587.8 million (KRW791,669,725,000). Blackstone is the world's largest alternative asset manager was advised…
Singapore’s Keppel buys Sydney office tower for a discount
SINGAPORE-listed diversified property trust Keppel REIT has strengthened its relationship with Mirvac further with the acquisition of a 50% stake in 255 George Street in Sydney’s CBD for $363.8 million…
Cautious optimism for Singapore offices, Knight Frank Singapore
FIRST quarter figures for prime office space in Singapore provides cautious optimism for the market going forward, according to Knight Frank Singapore. In its first prime office report for 2024,…
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