Ascott Acquires Co-Living Asset in Tokyo

A rendering of Ascott’s Lyf Ginza in Tokyo

In today’s roundup of regional news headlines, CapitaLand’s Ascott division buys a residential property in Tokyo, insurance giant AIA reportedly seeks to buy an office project under development in Shanghai, and billionaire Li Ka-shing dumps his stake in AMTD Group after a subsidiary’s strange stock. rally.

Yardi Proptech Report 2022 Spreadsheet_In story

Ascott Acquires Co-Living Asset in Tokyo Via Private Equity Fund

CapitaLand Investment’s wholly owned lodging business, The Ascott, will acquire a freehold co-living asset in Tokyo through its private equity fund with the Qatar Investment Authority.

This is the fund’s fourth acquisition this year, having deployed S$400 million across four countries within five months, Ascott said Thursday. Read more>>

AIA in Talks to Buy Billion-Dollar Shanghai Tower in Growth Push

Insurance giant AIA Group is in talks to purchase an office at a prime location in Shanghai as it expands business in China, according to people familiar with the matter.

The Hong Kong-based insurer is considering buying SIIC Center, a multi-function project under construction near Shanghai’s North Bund area, said the people, who asked not to be identified discussing private details. Shanghai Industrial Development, the state-owned builder that owns the tower, expects that the site could be valued at as much as RMB 9 billion ($1.3 billion), one of the people said. Read more>>

Li Ka-shing Cutting Ties With AMTD After Wild 14,000% Gain

One of the world’s most successful investors is cutting ties with the parent of AMTD Digital, whose 14,000 percent stock rally in a matter of weeks has raised eyebrows across Wall Street.

Billionaire Li Ka-shing’s CK Group is selling its remaining stake in AMTD Group, according to a statement on Thursday. AMTD’s unit AMTD Digital, a formerly obscure Hong Kong financial services firm, vaulted into the spotlight this month after its market value inexplicably surpassed that of global giants including Goldman Sachs and Wells Fargo. Read more>>

CK Hutchison, CK Asset Post H1 Earnings Increases Despite COVID Woes

CK Hutchison Holdings and CK Asset Holdings, the two flagship companies of Li Ka-shing, Hong Kong’s richest man, reported increases in their first-half results on Thursday despite a “worrisome” COVID-19 situation in mainland China and Hong Kong.

CK Hutchison, the conglomerate with businesses touching almost every aspect of an average Hongkonger’s life, said its net profit for the first six months of 2022 rose 4.3 percent to HK$19.1 billion ($2.4 billion), slowing from a 41 percent jump in earnings in the first half of 2021. Read more>>

Elite Commercial REIT H1 DPU Down 2.7% on Larger Unitholder Base

Elite Commercial REIT’s first-half distribution per unit fell by 2.7 percent year-on-year to £0.0256 (now $0.031).

The decline was mainly due to the effect of a larger unitholder base as the trust’s manager opted to receive all its management fees in cash instead of units from fiscal 2022 onwards. Read more>>

Amazon Leases 5.5 Acres Outside Mumbai, Likely for Data Centre

Amazon is leasing more than 5 acres of land from Indian conglomerate Larsen & Toubro outside Mumbai, likely for a data center.

Amazon Data Services has leased 5.5 acres (2.2 hectares) of freehold industrial land space from L&T in Powai in Mumbai for 21 years and six months, according to real estate firm Propstack. Read more>>

Empyrion DC Planning 40MW Data Center in Seoul

Singapore-based Empyrion DC has announced plans to develop a 40-megawatt data center in Seoul’s Gangnam area.

Empyrion DC signed a binding agreement with a local promoter to acquire 100 percent of the development rights, with plans to invest up to $400 million in the project and launch in 2024. Read more>>

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
AGADIR-GROUP