In today’s roundup of regional headlines, a Chinese developer resorts to taking crops as payment for homes, debt-ridden Evergrande gets a delisting warning from the Hong Kong Stock Exchange and Singapore’s DBS gives sovereign wealth fund GIC a sizeable green loan to refinance a skyscraper in Sydney .
Chinese developer accepts wheat, garlic as payment
As the housing slump in China continues, a developer is trying to lure farmers into buying houses by accepting their crops as payment.
Central China Real Estate is offering farmers to pay up to RMB160,000 (S$33,082) for their wheat to help offset down payments on houses at its River Mansion residential project in Shangqiu, a city in Henan province, according to a marketing post Monday . Weeks ago, the company offered to accept garlic from growers who wanted to buy houses in another project in Kaifeng. Read more>>
Evergrande receives delisting reminder from HKEX
China Evergrande, which defaulted on its dollar-denominated bonds last December, is getting an early warning about delisting shares as the developer struggles to release its audited accounts and over a $2 billion enforcement action by lenders to report in US dollars.
The Hong Kong Stock Exchange on Tuesday issued a “resume guidance” for the Shenzhen-based homebuilder to comply with its listing rules as the stock has been suspended from trading since March 21. Read more>>
DBS grants GIC A$295 million green loan for Sydney CBD Tower
DBS has granted Singapore sovereign wealth fund GIC a A$295 million ($284.3 million) green loan to refinance Chifley Tower Sydney, the bank announced on Wednesday.
The facility is one of the largest green loans made by a Singapore lender in the Australian market and is also DBS’s first green loan denominated in Australian dollars. Read more>>
CapitaLand Offers Buy Now Pay Later Plan for Vietnam Project
Singapore’s CapitaLand Development has introduced a buy-now, pay-later scheme for a residential project in Vietnam amid a slowdown in residential property sales in the Southeast Asian country.
CapitaLand, controlled by Singapore-based Temasek Holdings, is offering the program to buyers for the first time since the company entered the local market in 1994. Read more>>
IREIT Receives Major Data Center Lease on Sant Cugat Green Property
IREIT Global has secured a new 12-year lease on Barcelona’s Sant Cugat Green for 5,300 square meters (57,049 square feet) of vacant data center space, the REIT said in a filing with the Singapore Exchange on Tuesday.
The lease would bring the property to an occupancy rate of 97.2 percent on a pro forma basis, up from 77.1 percent at the end of March, the filing said. Read more>>
Bungalow rentals in Singapore for a record-breaking $144,000 per month
The Singapore housing market is proving to be a haven for the truly wealthy, with prices and rents reaching new levels. Most recently, a Good Class bungalow in Queen Astrid Park was let to a Chinese for S$200,000 (US$144,000) a month, or S$2.4 million a year.
Located at Queen Astrid Park, GCB is accessible from Sixth Avenue and Coronation Road West and sits on an elevated 2,363 square meter lot that is largely shielded from the street. The GCB is newly completed. Read more>>
Moody’s downgrades Lippo Malls Indonesia Retail Trust
Moody’s Investors Service has downgraded Lippo Malls Indonesia Retail Trust’s corporate family rating from B1 to B2.
Moody’s has also downgraded the backed senior unsecured rating on the bonds issued by LMIRT Capital Pte Ltd, a wholly owned subsidiary of LMIRT, from B1 to B2. The bonds are guaranteed by the Trustee of LMIRT. Read more>>
Nine office units for sale at Clarke Quay in Singapore for $20 million
Nine contiguous Strata office units on Level 17 of The Central at Clarke Quay in Singapore have been put up for sale by expression of interest at a target price of S$28 million (US$20 million), sole marketing agent JLL said on Wednesday.
This equates to approximately S$2,965 per square foot based on the property’s total bedding area of 9,441 square feet (877 square meters). Read more>>
Mixed-use building in Singapore’s Newton district is for sale
A five-storey mixed commercial and residential building, 200 Bukit Timah Road, has been put up for sale at a guide price of S$20 million (US$14.4 million), exclusive marketing agent CBRE said on Wednesday.
Located in the Newton Ward of Singapore, the property occupies a land area of 2,083 square feet (square meters) and has a total gross floor area of 8,715 square feet. The target price is S$2,295 per square foot of total gross floor area. Read more>>
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