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CapitaLand has formed a 50:50 joint venture with an unrelated third party to acquire approximately 70% of Pufa Tower in Shanghai, China, for RMB2,752 million (about S$546.3 million). The operational office property has been identified as a seed asset for a…
Vietnam aims to have northern Van Don economic zone be a financial center for the Asia Pacific region by 2030. A plan just approved by the Prime Minister aims at the zone, located near Ha Long Bay in the northern Quang Ninh Province, having a total production…
Contractors should look to neighbouring Singapore and Sarawak for jobs, as a slowdown in award of contracts is expected in 2019, according to Hong Leong Investment Bank (HLIB). The research house said in a note that contract flows are expected to slowdown on…
Stocks on Bursa Malaysia have endured a roller-coaster ride last year, with some creating big losses to investors on one day. Despite often seen as defensive investments, the Malaysian real estate investment trusts (M-REITs) also did not escape unscathed. A…
Bankrupt US retailer Sears has informed 80 further stores of impending closure, in addition to the 40 store closures already announced. The second batch of closures is expected to be finalised by late March 2019, with liquidation sales expected to begin in…
Lulu Group Chairman and Managing Director, M.A. Yusuff Ali dedicated the newly-opened Rs 250 crore mall project – Y Mall to his home town on 29 December, 2018. M.A.Yusuff Ali’s grandchild, Ayan Ali cut the ceremonial ribbon, officially inaugurating the mall.…
Malaysian retailers and mall operators are jumping on the technology bandwagon, adopting technologies such as shopper tracking systems and facial recognition cameras, using data analytics to capture important shopper information. Sunway Velocity Mall general…
2018 saw further liberalization of FDI policies, repositioning Indian retail on the global investment map and attracting a large number of global retailers into the country. In H1 2018, private equity investments into Indian retail swelled to over US$ 300…
V-Mart, the world’s best performing department store chain in 2018 as per data compiled by Bloomberg, launched its 200th store in Mughalsarai, Uttar Pradesh. With this landmark achievement, the company has opened a total of 29 new stores in the current fiscal…
The East Japan Railway is launching its first overseas shopping mall in Taiwan next month. The mall is opening under JR East’s station complex management subsidiary Atre, following an extended consideration of alternative international locations that included…
Sunway Bhd is selling its land and assets to Sunway Real Estate Investment Trust (Sunway REIT) for RM550 million cash. Sunway said that its wholly owned subsidiary Sunway Destiny Sdn Bhd had on December 24 entered into a conditional sales and purchase…
Arch Capital Property Advisors has bought a Taiwanese shopping mall for US$450 million on behalf of private investors. The deal marks the Hong Kong-based company’s first foray into Taiwan’s retail property business. After settlement, Arch Capital will assume…
The site where a Legoland will be built in Chuncheon, Gangwon, on Friday. The development of the Legoland, about the same size as the Legoland in Johor Bahru, Malaysia, has been approved by the Gangwon government. British amusement park developer Merlin is in…
Japan’s Summit supermarket will open first outlet in Vietnam’s capital city Hanoi this month, with two more stores expected to open next year. The Vietnamese Summit stores will be operated by Fujimart Vietnam Retail, a joint venture between Summit parent…
Russell Street in Hong Kong’s Causeway Bay district has replaced New York’s Upper 5th Avenue as the world’s most expensive retail street by rental value, according to property consultants Cushman & Wakefield. For the first time in five years, the city has…
Attractive prices and returns have seen the number of Chinese customers buying high-end apartments in HCMC soar this year. Duong Thuy Dung, senior director of real estate market research firm CBRE Vietnam, said at a recent forum that 31 percent of high-end…
