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China’s Nation Backyard Posts First Loss Ever
China’s Nation Backyard Posts First Loss Ever

The Nation Backyard Middle in Shanghai’s Yangpu district (Getty Photographs)

In at the moment’s roundup of regional information headlines, prime China developer Nation Backyard posts its first-ever loss since its public itemizing, and a Singapore-listed US REIT publicizes a management transition.

Nation Backyard Reviews First Loss Since 2007 Itemizing

Nation Backyard Holdings, China’s largest developer, reported its first full-year loss for the reason that firm’s 2007 itemizing in Hong Kong.

Foshan-based Nation Backyard posted a internet lack of RMB 6.1 billion (now $890 million), in contrast with a revenue of RMB 27 billion in 2021. The developer had warned of the loss earlier this month. Learn extra>>

United Hampshire US REIT CEO Steps Down for Well being Causes

The supervisor of Singapore-listed United Hampshire US REIT introduced Thursday that chief government Robert Schmitt shall be stepping down for well being causes.

Schmitt’s final day of service shall be 1 Might, upon which chief monetary officer Gerard Yuen will take over as CEO. Learn extra>>

SUNeVision Opens 20MW Information Centre in Hong Kong’s Tsuen Wan

Hong Kong-based SUNeVision has launched its seventh knowledge centre, the Mega Gateway, in Tsuen Wan district.

The hyperscale knowledge centre is carrier- and cloud-neutral and is a part of SUNeVision’s Mega Campus. The newest addition to the campus, housed at 1 Ma Kok Road, includes 200,000 sq. ft (18,581 sq. metres) of ground area and has a capability of 20 megawatts. Learn extra>>

Mitsubishi Takes the Plunge Into Australia’s Construct-to-Lease Market

The dramatic upswing in Australia’s build-to-rent trade is bringing in recent international capital and commitments to new tasks from native billionaires. They’re being drawn by the promise of rising returns amid the nation’s rental disaster and absence of recent housing, which is forecast to persist all through the last decade.

In one of many largest performs, Japan’s Mitsubishi Estates Company is poised to take a stake in Mirvac’s build-to-rent operation and can again the 5,000-unit portfolio being assembled across the nation. Learn extra>>

Fosun Bullish on China’s Reopening, Says Membership Med ‘Undoubtedly Not for Sale’

Membership Med is “very optimistic” about China’s reopening, an government from Fosun Tourism Group instructed CNBC on Monday, including that the luxurious resort chain is “positively not on the market”.

Co-president Xu Bingbin instructed the information channel that “Fosun Tourism Group is among the core companies of Fosun, and Membership Med is among the core companies of Fosun Tourism Group.” Fosun Tourism Group is the leisure arm of Chinese language conglomerate Fosun Worldwide. Learn extra>>

Keppel Company Goals to Hit S$200B in AUM by 2030

Keppel Company is aiming to lift its present S$50 billion ($37.6 billion) in belongings underneath administration to S$200 billion by 2030 underneath its drive to be a number one world asset supervisor.

The brand new goal was disclosed by chief government Loh Chin Hua within the firm’s annual report on Thursday. Learn extra>>

Civil Motion In opposition to Keppel Land Subsidiary in Jakarta Dominated Inadmissible

The South Jakarta District courtroom has dominated the lawsuit towards PT Kepland Investama, an entirely owned subsidiary of Keppel Land, as “inadmissible”.

The civil motion was commenced by a Raden Saleh Abdul Malik in February 2022. In Keppel’s submitting on 14 February 2022, Raden claimed that the land, the place the Worldwide Monetary Centre Jakarta Tower 2 constructing complicated is situated, belongs to him and never PT Kepland Investama. Learn extra>>

Singapore’s Condominium, HDB Rents Rise, however Quantity Drops

Rents for Singapore’s Housing and Growth Board flats and condominium models continued to climb in February, at the same time as fewer properties are being rented out, with some analysts noting a rising worth resistance by some tenants in current months.

Condominium rents rose at a quicker tempo of three.5 p.c in February, in contrast with January’s 1.4 p.c, based on flash figures launched Wednesday by property portals and SRX. HDB rents climbed 1.2 p.c in February, versus 0.6 p.c in January. Learn extra>>

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