El-Ad looks to offload South Beach, Futura stakes: sources
Market watchers say group’s problems in US property market may be at play The high-profile South Beach development could see a new shareholder emerging if US-based El-Ad Properties, owned by Israeli billionaire Yitzhak Tshuva, manages to find a buyer for its stake, BT understands. El-Ad Properties is said to be looking for buyers for its … Read more
Crunch time looms for industrial property
Rents, capital values could see double-digit percentage falls, but correction may not be a bad thing The industrial property sector, which had grown at a steady pace for most of 2008, is unlikely to escape from the economic downturn that has hit its residential and office counterparts. As manufacturing activity dips and relocations from offices … Read more
GIC RE in US$1.3b purchase of property fund stakes
GIC Real Estate (GIC RE) has bought all of US-based ProLogis’s property fund interests in Japan and China for US$1.3 billion. ProLogis, said to be the world’s largest owner, manager and developer of distribution facilities, has a China Properties Fund and two Japanese funds, according to its website. GIC RE said yesterday that it would … Read more
CapitaLand’s Hsuan Owyang retires
CAPITALAND deputy chairman Hsuan Owyang is retiring from the property firm he helped turn into the biggest developer in Asia. Mr Owyang, 80, will be succeeded on Jan 1 by former banking chief Peter Seah, who is also on CapitaLand’s board as a non-executive director. It was the merger eight years ago of leading Singapore … Read more
GIC RE acquires $1.9b in assets
GIC Real Estate (RE), the real estate investment arm of the Government of Singapore Investment Corporation (GIC), announced yesterday that it had acquired all of ProLogis’ property fund interests in Japan and China operations for US$1.3 billion (S$1.9 billion). ‘The acquisition consolidates control over our existing portfolio in Japan and provides a platform to expand … Read more
HDB invites tenders for Sengkang market
THE Housing and Development Board (HDB) began inviting tenders yesterday for a land parcel in Sengkang New Town for the building and managing of a market and food centre. The land parcel has a site area of 6,000 square metres and a maximum gross floor area of 4,000 sq m. The tenure is for an … Read more
Private-run market, food centre at Sengkang
A PILOT project could see more privately-built and run markets and food centres in the heartlands, with Sengkang residents being the first to benefit. The latter can look forward to a new market and food centre come 2010. The Housing and Development Board (HDB) has launched a tender for a market and food centre development … Read more
