JLL again No.1 in region

PropertyGuru.com.sg JLL remained the top real estate investment advisory firm in Asia Pacific during 2013, according to Real Capital Analytics (RCA). The consultancy also ranked number one in the office, industrial, hotel and retail sectors. Last year, JLL’s capital markets team advised on over US$21.5 billion of commercial property investment transactions in Asia Pacific, which
read the rest…

CapitaLand sells remaining stake in Australand

PropertyGuru.com.sg Singapore-based CapitaLand has announced that it placed out its remaining 226.2 million stapled securities in Australand Property Group (Australand). This is about 39.1 percent of total issued stapled securities in a secondary placement exercise, which was executed at an average price of AU$3.75 each, a discount of 3.6 percent to the closing price of
read the rest…

More money for real estate execs

PropertyGuru.com.sg Real estate executives in Asia are better paid than their European counterparts, according to a new survey. Asia-based respondents in the survey of corporate real estate professionals working for large corporations found that, on average, the Regional Head of Corporate Real Estate in Asia received 18 percent higher salaries than those in Europe. However,
read the rest…

More Taiwanese on the lookout for Japan property

PropertyGuru.com.sg The weakening yen has boosted interest for Japan properties among Taiwanese investors, with transactions growing significantly over the past year. With economic policy changes also taking effect, real estate in Japan has become significantly more affordable. Amid all this, ECG Property, a wholly-owned subsidiary of ECG Group of Companies, has formed a partnership with
read the rest…

Ascott celebrates milestone, makes Myanmar foray

PropertyGuru.com.sg CapitaLand’s serviced residence business unit, The Ascott Limited (Ascott), is marking its 30th anniversary this year. The firm opened its first property in Singapore back in 1984 and has since expanded to 83 cities across 23 countries. In a statement, its CEO Lee Chee Koon said: “As

Jones Lang LaSalle shortens name to JLL

PropertyGuru.com.sg Global property consultancy Jones Lang LaSalle has shortened its name to just “JLL” and changed its logo at the same time. In a statement on Tuesday, the Chicago-based firm said the shorter name and new logo are easily recognised and visible in countries around the world, memorable and easily pronounced in languages worldwide and
read the rest…

CDL posts lower earnings for Q4

PropertyGuru.com.sg Challenging conditions in the property market saw heavyweight City Developments (CDL) report thinner fourth quarter earnings. Revenue for Q4 2013 came in at $774 million, a 12.6 percent decline from the previous year. Net profit for the last three months ended 31 December decreased 11.4 percent to $221 million from the year before. Despite
read the rest…

SingHaiyi to develop luxury seniors’ community in US

PropertyGuru.com.sg Singapore-listed SingHaiyi Group will acquire a land parcel in the San Francisco Bay area for US$24.4 million, with plans to build a high-end community for seniors. The 5TM development (pictured) will have a gross development value of around US$600 million. Located in the prestigious Candlestick Point neighbourhood, the waterfront land is valued at US$35
read the rest…

Ascott Reit acquires first Dalian property for S$118.6m

PropertyGuru.com.sg Ascott Residence Trust (Ascott Reit) has entered into an agreement with Winner Sight Investments Limited to purchase its first serviced residence in Dalian, China for RMB571 million (S$118.6 million) at an EBITDA yield of 5.5 percent. The accretive acquisition is expected to increase FY2013 distribution per unit by 1.5 percent from 8.40 cents to
read the rest…

CapitaLand’s Q4 profit falls 45% on one-off loss

PropertyGuru.com.sg Property giant CapitaLand reported a 45.6 percent decline in profit after tax and minority interest (PATMI) in Q4 2013, primarily due to a one-off loss on the sale of a stake in Australand. On a yearly basis, the group’s PATMI dropped 8.7 percent to $849.8 million from $930.3 million in 2012. Revenue also fell
read the rest…