Some commercial property buyers are invoking “Brexit clauses” written into contracts agreed before Britain voted to leave the European Union, allowing them to walk away from the deals. In other cases buyers have yet to exercise such get-out clauses but are keeping the option open to try to renegotiate the price down, according to property lawyers… Read More »
China Vanke Co Ltd said it and partners are in talks to acquire some commercial property firms from Blackstone Group LP and other third parties for 12.9 billion yuan ($1.9 billion). The disclosure is a more detailed response by Vanke, currently mired in a high-profile corporate power struggle, to enquiries from the Shenzhen bourse after criticism… Read More »
An Australia-based construction giant has cracked a deal worth $169.5 million with an Indian company to build a retail and hospitality development project in Mumbai. CIMIC Group Company Leighton Asia, through its subsidiary Leighton India Contractors, has entered into an alliance agreement to deliver phases two and three of the Maker Maxity project in Mumbai. According to… Read More »
London office-property values may fall by as much as 20% within three years of the country leaving the European Union (EU) as businesses relocate and the economy stagnates, according to Green Street Advisors LLC. “New leasing will slow dramatically,” said Hemant Kotak, an analyst at the London-based research company. Retail-property values across the country could fall… Read More »
A housing boom in China’s wannabe “Silicon Valley” of Shenzhen risks undermining the city’s tech boom as young professionals consider moving out to avoid the highest residential prices in the country. In the space of four decades, Shenzhen has transformed itself from a fishing village into a manufacturing centre and now a tech hub – attracting… Read More »
In Britain’s regions, smaller investors are securing discounted deals on commercial property as heavyweight funds put purchases on ice ahead of the referendum on EU membership. Defying an investment lull in the capital, regional property markets have been enlivened by private equity firms and other small investors taking advantage of reduced competition for office and retail… Read More »
BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region. Asia Square Tower 1, located in the city-state’s financial district, has over 1.25 million… Read More »
Indiabulls Real Estate (IBREL) on Wedneaday said the company now has a majority stake of 51.18 per cent in Singapore-listed business trust IPIT after acquisition of 2.77 crore shares by its subsidiary. The company earlier had 47.5 per cent stake in Indiabulls Properties Investment Trust (IPIT), which has a portfolio of over three million sq ft… Read More »
After bulge bracket mall deals by Blackstone and GIC in Mumbai, global investors Canada Pension Plan Investment Board (CPPIB) and Macquarie are looking to buy malls in the country, said executives involved in the talks. “CPPIB has started talking to mall owners while Macquarie has shown interest in buying malls. All these investors prefer fixed yields.… Read More »
Mumbai-based private property developer Lodha Group acquired the Canadian embassy building in London’s Mayfair district for $530 million (Rs 3,300 crore then) in its biggest overseas move in November 2013. Abhishek Lodha, managing director, announced plans to become one of the biggest investors in London’s residential property market by spending as much as $5 billion:… Read More »
