02142016Sun
Last update: Sun, 14 Feb 2016 09pm

Real Estate

Business & Finance - Real Estate

Singapore, Malaysian state investors to develop $9.86bn projects SINGAPORE: State investment firms, Singapore's Temasek and Malaysia's Khazanah, will jointly develop $9.86 billion worth of real estate projects in the two countries, the two said late on Monday. A 60:40 joint venture between Khazanah and Temasek will develop S$11 billion 8.88 billion) worth of projects in six land parcels near Singapore's central business district, the statement said. The projects will have office, residential, hotel and retail components. A unit of UEM Land Holdings Berhad, a real estate company within Khazanah's portfolio, and a subsidiary of Temasek-owned Mapletree Investments have been appointed to oversee the marketing and development of the project at Marina South. For the Ophir-Rochor site in Singapore, UEM Land and a subsidiary of CapitaLand will oversee the marketing and development. Separately a 50:50 joint venture between the two state investment firms will also develop 3 billion ringgit ($986 million) worth of property projects in Malaysia's Iskandar region. The developments are part ...

Business & Finance - Real Estate

 Wilhelm & Co IPO cancelled BRUSSELS: Belgian property group Wilhelm & Co has cancelled the flotation of a shopping centre, pouring cold water on hopes of a recovery in the market for initial public offerings (IPOs) in the country. The company abandoned the up-to-196 million euros ($277.4 million) flotation of real estate certificates linked to Mediacite, a 45,313 square metre shopping centre in the Liege region in the east of Belgium, blaming market volatility. It would have been the biggest IPO in ...

Business & Finance - Real Estate

Risk retention crucial to US housing reform: Treasury WASHINGTON: US regulators want to ensure mortgage lenders retain some of the risk on loans they originate, as it is crucial to strengthen the US housing finance system, a top Treasury official said on Friday. "We are committed to implementing risk retention reforms in a thoughtful manner that ensures continued access to sustainable mortgage credit for low- and moderate-income borrowers and protects the health of the still-fragile housing market," Treasury under Secretary Jeffrey Goldstein said in ...

Business & Finance - Real Estate

MGPA sees $1bn in office property SINGAPORE: Property investment firm MGPA has a warchest of more than $1 billion to invest in new Asian and European property and sees Tokyo offices as one of its top picks, Group CEO Simon Treacy said on Wednesday. But the firm, 56 percent owned by Australia's Macquarie , is wary of Hong Kong where it believes the office property market is set for a major correction as China's economy slows and US interest rates begin to ...

Business & Finance - Real Estate

Treasury China keen on acquisitions SINGAPORE: Singapore-listed Treasury China Trust (TCT) is on the lookout for more property acquisitions in China, after making two purchases earlier this year and having several projects under development, its chief executive said. "We certainly have excess capacity in our platform to take on new opportunities and that's our focus over the next 12-18 months," CEO Richard David told the Reuters Global Real Estate and Infrastructure Summit on Tuesday. TCT, which is structured as a business trust, ...