Link REIT’s $2.4B Rights Issue Oversubscribed and More Asia Real Estate Headlines

In immediately’s roundup of regional information headlines, Asia’s largest listed property belief will get a powerful response to its rights challenge, and troubled developer Shimao places a Hong Kong resort up on the market.

Link REIT’s Manager Says Rights Issue Is 240% Subscribed

The supervisor of Link REIT introduced Tuesday that its HK$18.8 billion ($2.4 billion) rights challenge was 240.25 % subscribed upon “overwhelming support” from qualifying unitholders and buyers.

The Hong Kong-listed belief had supplied a one-for-five rights challenge at a subscription value of HK$44.20 and obtained legitimate acceptances and purposes for greater than 1 billion items from qualifying unitholders and buyers, the supervisor mentioned. Read extra>>

Shimao Seeks $828M for Sheraton Hotel Near Hong Kong Airport

Indebted Chinese developer Shimao Group is placing its massive resort property positioned close to Hong Kong’s airport in the marketplace and expects to garner sturdy curiosity amid an anticipated restoration within the metropolis’s tourism sector, in keeping with gross sales agent JLL.

The asking value for the 18-storey, Sheraton-branded resort in Tung Chung, which opened in 2020, is HK$6.5 billion ($828 million), Reuters reported. Read extra>>

Singapore Condo Resale Volume Up 50.3% in February

Resale quantity of personal condominiums in Singapore rose for the primary time since October 2022, pushed by pent-up demand after the Chinese New Year interval.

Flash estimates from SRX and 99.co on Tuesday confirmed that 756 items had been resold in February, a 50.3 % improve from the 503 items resold in January. Read extra>>

Vietnam’s NovaGroup to Sell Stake in Property Subsidiary Novaland

NovaGroup needs to promote a 2 % stake in Novaland — and if the transaction goes via, chairman Bui Thanh Nhon and his household will change into minority shareholders.

In a discover despatched to the Ho Chi Minh City inventory alternate on Monday, NovaGroup mentioned it will promote 38 million shares between 30 March and 28 April to stability its funding portfolio and restructure money owed. Read extra>>

Investors to Pour Estate Up to $13B in Capital into Indian Real Estate in 2023-24

The actual property sector has obtained fairness capital of $32 billion over the last 5 years and is predicted to draw between $12 billion and $13 billion throughout 2023-24, with workplace property prone to garner probably the most funding, in keeping with CBRE.

The property consultancy estimates that fairness flows in the true property sector will stay regular over the subsequent two years, with a mean move per yr between $6 billion and $7 billion. Read extra>>

Portfolio of Singapore Shophouses, Peninsula Plaza Retail Unit for Sale at S$52.2M

A portfolio comprising 11 Housing and Development Board shophouses, together with a 999-year leasehold strata retail store in Peninsula Plaza, are up on the market at a information value of S$52.2 million ($39.3 million).

Each HDB shophouse is positioned in mature residential hubs with distinguished frontages and excessive footfall, close by highway junctions, grocery markets, espresso retailers or meals centres, advertising agent CBRE mentioned Tuesday. Read extra>>

Far East Hospitality Trust Receives Full Incentive Fee From Central Square Sale

Far East Hospitality Trust obtained a further S$18 million ($13.6 million) from its divestment of Central Square to City Developments Ltd.

This is the utmost quantity of the conditional incentive price that CDL mentioned it will probably pay FEHT — on high of the property’s S$313.2 million buy consideration. The deal was first introduced in December 2021. Read extra>>

Web Werks Launches 4MW Data Centre in Bengaluru

Web Werks has launched a brand new knowledge centre in India’s Bengaluru.

The firm introduced this week that the Web Werks-Iron Mountain Data Centers three way partnership has launched the primary part of a brand new 4-megawatt facility within the Karnataka area of the nation. Read extra>>

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