News by Michelle Zhu

The Australian property division of Singapore-listed Frasers Centrepoint Limited says this due to “unprecedented demand” which it has witnessed for new warehouses in its two Melbourne industrial parks in recent months.

CapitaLand, CapitaLand Commercial Trust, Mitsubishi Estate have formed a joint venture to redevelop Golden Shoe Car Park (GSCP) into a landmark integrated development in Raffles Place, which is estimated to cost a total of S$1.82 billion (RM5.67 billion).

UOB Kay Hian is reiterating its “buy” call on CapitaLand Commercial Trust (CCT), following news of its divestment of Wilkie Edge to construction and property development firm, Lian Beng Group, for a consideration price of S$280 million (RM870 million).

Mirvac is a real estate group listed on the Australian Stock Exchange, and creates, owns and manages a portfolio of assets across the office, retail, industrial and residential property sectors in Australia.

In its third initiative with the Centre for Liveable Cities (CLC), the Urban Land Institute (ULI) today announced the launch of a new report at the 2017 ULI Asia-Pacific Summit in Singapore.

Property group previously announced its divestment of Innov Tower at Shanghai’s Xuhui District for S$316 million.

Mapletree Investments, the Temasek-backed property development, investment and capital management company, acquired a portfolio of assets from Kayne Anderson Real Estate Advisors worth US$1.6 billion (S$2.2 billion or RM6.85 billion).

Applications for the 2017 Presidential Election certificates are opening today, and it has been reported that the founder and chief executive officer (CEO) of Second Chance Properties, Mohamed Salleh Marican, intends to be in the running for the position as Singapore’s next president.  

Ascott Residence Trust (ART) is acquiring DoubleTree by Hilton Hotel New York – Times Square South for US$106 million (S$148.4 million or RM454.2 million), a 224-unit freehold property located on 36th Street in Midtown Manhattan.

Maybank Kim Eng Research is turning positive on Singapore’s property developers.