Showing posts with label Andrea Eng. Show all posts
Showing posts with label Andrea Eng. Show all posts
Tuesday, October 3, 2017
Tuesday, August 8, 2017
Gaw Capital
Gaw Capital are connected fund managers in global real estate
LOS ANGELES
> Goodwin Gaw on Hollywood
CHINA
> Targeting distressed real estate in China
Nice real estate Christina Gaw
> http://realestatefundmanager.blogspot.ca/2013/11/london.html
OAKLAND
Gaw Capital purchase the 494 room Oakland Marriott Hotel for $143 million -- 2017 May
BORA BORA
BORA BORA
Gaw Capital with Tencent founder Pony Ma said to be purchasing the Four Seasons Hotel In Bora Bora
> http://www.reuters.com/
JAPAN
Gaw Capital sells Osaka Hyatt Regency for $153 million USD
> https://www.perenews.com/
They acquired the asset for $30 million in 2014
> http://www.anrev.org/en/
Photo by Jason Hawkes
Gaw Capital and InvestUK signed the MoU to launch a £1 billion ‘Education Bond’, an investment product that allows Chinese and other international students to invest in the UK and gain permanent residence.
> http://news.costar.co.uk/
HONG KONG
NEW YORK
SINGAPORE
https://realassets.ipe.com/news/allianz-and-gaw-acquire-s158bn-mixed-use-singapore-asset-from-ms/10032581.article
These are just some of the deals of Gaw Capital Partners. They are experienced deal makers
Real Estate Inteligence
Curated By
ANDREA ENG
LOS ANGELES
> Goodwin Gaw on Hollywood
CHINA
> Targeting distressed real estate in China
Nice real estate Christina Gaw
> http://realestatefundmanager.blogspot.ca/2013/11/london.html
Gaw Capital purchase the 494 room Oakland Marriott Hotel for $143 million -- 2017 May
BORA BORA
BORA BORA
Gaw Capital with Tencent founder Pony Ma said to be purchasing the Four Seasons Hotel In Bora Bora
> http://www.reuters.com/
JAPAN
Gaw Capital sells Osaka Hyatt Regency for $153 million USD
> https://www.perenews.com/
They acquired the asset for $30 million in 2014
> http://www.anrev.org/en/
Photo by Jason Hawkes
Gaw Capital and InvestUK signed the MoU to launch a £1 billion ‘Education Bond’, an investment product that allows Chinese and other international students to invest in the UK and gain permanent residence.
> http://news.costar.co.uk/
HONG KONG
http://www.marketing-interactive.com/intercontinental-hong-kong-to-close-for-transformation-in-2019-q1/
NEW YORK
hong-kong-investor-buys-standard-hotel-for-a-discount
SINGAPORE
https://realassets.ipe.com/news/allianz-and-gaw-acquire-s158bn-mixed-use-singapore-asset-from-ms/10032581.article
These are just some of the deals of Gaw Capital Partners. They are experienced deal makers
Real Estate Inteligence
Curated By
ANDREA ENG
VANCOUVER | Foreign investors
Photo by Shelley Hayashi
VANCOUVER
Elephant in the room> https://betterdwelling.com/city/
Just one viewpoint, I personally think people come to Vancouver for the glorious lifestyle and excellent airport - we can fly and be anywhere for a meeting on 24 hours notice
Real Estate Inteligence
Curated By
ANDREA ENG
Tuesday, July 18, 2017
VANCOUVER | 101
‘If you cut out the agricultural land reserve, wetlands, and regional parks, Metro Vancouver's urban area is just ~850 sq km. That's slightly larger than all of Singapore, 200 sq km larger than the City of Toronto, and about 2x larger than the island of Montreal’ Land Use: $120K Over For A Manse On The Cresent Vancouver HouseLong Movie
TRENDS
 Demand Drops https://vancouversun.com/business/real-estate/developers-slashed-condo-presale-launches-in-2019-as-investor-buyers-pulled-back VANCOUVER bound :
Canadians Exit Hong Kong - top story, Globe & Mail
Andrew Loo, who had a comfortable career as a banker, with three nannies and a driver in Hong Kong, says there’s no such thing as work-life balance there. He and his wife Jobina and their three children moved back to Canada in 2017.
📸: BEN NELMS/The Globe and Mail
The re-returnees: They came to Hong Kong for the hustle. Now, with China encroaching, they’re coming back to CanadaA third of Hong Kong’s population wants to leave, says a survey released by the Chinese University of Hong Kong earlier this month – and Canada was cited as the most desired destination
“there’s no such thing as work-life balance."
The sheen of opportunity and adventure that made Hong Kong into one of the world’s great gateways – the City of Life, as it calls itself – has dulled for some as the cost of living rises and the grip of China tightens.
According to a recent survey, nearly a third of the Hong Kong population is thinking about leaving the city of 7.4 million. Canada, as it has in the past, is playing an outsize role in their search for an alternative; Hong Kong has boasted an estimated 300,000 Canadian passport holders, enough to rank the Asian financial centre as the equivalent of one of Canada’s 20 most populous cities.
Many Hong Kong residents fled the island for Canada before it came under Chinese rule in 1997 – fearing Beijing’s power. They later returned for jobs. Now, the current of human movement has once again shifted, moving back toward Canada. It is for some a third cross-Pacific move. They call themselves the “re-returnees.”
“People are thinking twice about staying in Hong Kong,” said Eugene Ho, an entrepreneur who is president of the local University of British Columbia alumni chapter. It is holding a session on Tuesday to guide people through the process of moving back to Canada, from sorting through taxes to securing a mortgage and finding the right school for their kids.
A third of Hong Kong’s population wants to leave, says a survey released by the Chinese University of Hong Kong earlier this month. Their top reasons were “too much political dispute” and social rifts, overcrowding and dissatisfaction with local political institutions. Fifty-one per cent of those between the ages of 18 and 30 want out. They cited Canada as their most desired destination.
Canadian immigration data show that the number of people from Hong Kong applying for permanent residency in Canada increased by 50 per cent in 2016, to 1,360, and has remained at that elevated level.
What those figures do not count, however, are the people who already hold Canadian passports, and who are slipping back across the Pacific.
They are people such as Harjeet Grewal, 39, a Cantonese speaker who was born in Hong Kong but is disturbed by its changing political environment and influence from Beijing. “You have to be careful what you are saying and I don’t want to live in that kind of climate for the long term," Ms. Grewal says.
John Luciw has his own reasons. Mr. Luciw, 51, a long-time Hong Kong resident who plays in a Tragically Hip cover band, runs a news site for expats and is now so done with the city’s brutal cost pressures that, “I don’t even know if I’m going to come back for a visit."
... MORE
https://www.theglobeandmail.com/world/article-the-re-returnees-they-came-to-hong-kong-for-the-hustle-now-with/  |
| Video by Dr. Melissa Carr |
China Minsheng's Partial Ownership in Grouse Mountain Marks a Seismic Shift for Vancouver
Last week the Globe and Mail broke the news that the iconic Grouse Mountain in Vancouver has been sold to an overseas investor. They pointed out in an article on the weekend that its what foreign investors do in Canada that matters*. The property and its operations has been on the market since last year. The transaction closed yesterday at B.C. Lands Title Office.
That China Minsheng wants to invest in Canada is a vote of confidence in the country. China Minsheng Investment Group (CMIG), the country's largest privately owned investment manager.
That China Minsheng wants to invest in Canada is a vote of confidence in the country. China Minsheng Investment Group (CMIG), the country's largest privately owned investment manager.
China Minsheng and China Poly** both have North American roots well established in Vancouver.
Timing Is Everything
The closing of this significant transaction is unrelated to the sensitive geo-political events within China of the last few days.
- State censorship was tightened in China this week with actions such as Winnie the Pooh ban
- Yesterday the WSJ reported on China's crackdown on the overseas purchases of Dailan Wanda, one of China's most acquisitive in the world
Here is the press on this transaction as at time of this post.
* If you are not open the linked article because no subscription, suggest you download their app and will be able to access the article.
** My recent visit to China Poly > http://hellotaitai-shop.blogspot.ca/2017/07/chinese-contemporary-art.html
** My recent visit to China Poly > http://hellotaitai-shop.blogspot.ca/2017/07/chinese-contemporary-art.html
Sunday, December 28, 2014
Isetan
SINGAPORE
Isetan will likely stop conducting its own retailing operations at its Wisma Atria department store from the second quarter of next year.
However, in a statement to the Singapore Exchange yesterday, the firm said that in line with its core business, it intends to continue retailing activities and food and beverage services at the premises by housing tenants and providing the necessary facilities management.
"While the company endeavours to lease out all floors of the premises, there is no assurance that it would be able to achieve full tenancy, due to market conditions or commercial reasons," it added.
Under such circumstances, the company said, it might continue to operate retailing activities in that part of the premises until tenants are found.
In the meantime, the company will continue to operate its own department
store operations in the Orchard Road shopping belt at its Isetan Scotts store in Shaw House.
It also has four suburban department stores, in Katong, Tampines, Serangoon Central and Jurong East.
Isetan said it is committed to its long-term purpose of running department stores and supermarkets.
Last month, Isetan announced that it had slipped into the red with a third-quarter loss of $2.9 million, owing to a slow growth in sales following renovation works at its Scotts department store.
Other than its new store in Jurong East, the other outlets also registered lower sales in the third quarter, owing to a competitive and challenging retail environment, it said.
In October, Isetan said it was planning to lease out one floor of its Wisma Atria department store to Japanese restaurants and food kiosks, "to spread Japanese food culture"
Friday, April 18, 2014
Greenland
Shanghai Greenland
Not always the most prime but definitely the most agressive of all the China developers to go global. They are one of China's largest state-owned developers.
Los Angeles
They stunned the market when they paid $1 bln USD for the Metropolis project in downtown LA. Acquired from the California State Teachers’ Retirement System in summer of 2013, the project is planned as a 275,450-square-foot (25,600-square-meter) development with hotels, apartments and luxury condominiums.
Brooklyn
In October 2013 they announced a $5 bln USD investment to take a 70% stake in the Atlantic Yards.
Australia
In December 2013 they sold out 250 units in Downtown Sydney according to the Wall St. Journal.
Due to that success the group is expanding in Oz and it was South China Morning Post “We are looking for a few opportunities at the moment in Melbourne, Brisbane and Sydney, with total development values ranging from A$500 million (HK$3.58 billion) to A$3 billion.”
London
Greenland bought the historic Ram Brewery site in Wandsworth outside central London for £600 million and when a local London player fumbled it negotiations, Greenland stepped in quickly at Canary Wharf. The above is rendering of the proposed Hertsmere Tower.
Malaysia
PETALING JAYA: The Greenland Group is the latest developer from China to buy land for a sizeable property project in Johor's coastal Danga Bay area.
Greenland struck a deal in 2014 April to acquire 13.96 acres from Iskandar Waterfront Holdings Sdn Bhd (IWH) at cost of RM 600 million, where it plans to develop properties worth RM 2.2 billion in gross Development Value.
The price works out to RM 984 per sq ft - just below the record RM 991 per sq ft that Hao Yuan Pte Ltd, a Singapore-based but China-owned firm, paid for 37 acres in Danga Bay last December.
This is Greenland's maiden investment in Malaysia, for which it will form a joint venture with IWH to develop the land into an integrated project within five years. But the sale comes amid reports of tepid response from buyers for launches in Johor and Iskandar Malaysia.
The latest to feel the heat was Singapore’s Pacific Star Development Pte Ltd, which saw bookings for only 25% of the second phase of its condominium in Puteri Harbour.
Even so, the Shanghai-based Greenland, one of China's largest state-owned enterprises, is understood to be eyeing a GDV in excess of RM10bil in Danga Bay by the time it wraps up several more transactions in the coming months.
“This is only the beginning,” a source said.
According to industry executives, Greenland is set to finalise “very soon” the purchase of two more land parcels on the eastern corridor of Johor Baru near the Permas Jaya township, where Tropicana Corp Bhd is also a landowner.
Previous news reports had said Greenland was keen on acquiring around 60ha in Iskandar Malaysia.
Inclusive of the Greenland transaction, IWH has to-date inked 17 deals with local and foreign partners to develop properties worth RM127bil in GDV, providing a fillip to its ambitious plan of transforming the coastline of Johor bordering Singapore into a waterfront metropolis.
At least four other major China developers were in talks with IWH for mixed-use developments featuring waterfront properties, the company said in a statement.
“This massive influx of foreign direct investment is a boon for Malaysia and Johor because of the economic spillover and thousands of job opportunities that these projects will generate,” IWH managing director Tan Sri Lim Kang Hoo said.
“We believe Greenland Group will pave the way for more China state-owned companies to invest in outstanding property projects in Iskandar Malaysia and IWH’s extensive waterfront landbank in Johor Baru.”
A delegation from Greenland had visited Malaysia in February to explore investment opportunities. The state-backed group has over the past few years snapped up real estate in major cities such as New York, Los Angeles, Sydney, London and South Korea.
IWH is the master developer of 1,620ha of waterfront land in the eastern and western side of the Johor Causeway, with Danga Bay, located in Zone A of Iskandar Malaysia, as its centrepiece.
Other international property players which have secured a foothold in Danga Bay include Singapore’s Temasek Holdings Pte Ltd and CapitaLand Ltd, Australia’s Walker Group and China’s Country Garden Holdings Ltd and Hao Yuan, while local firms with ongoing developments include Tropicana and the Brunsfield Group.
Maybank IB Research had recently expressed concern about Iskandar Malaysia’s medium-term prospects, saying the massive incoming supply of residential and retail properties in hotspots like Danga Bay and Nusajaya could be harmful to asset values.
“Judging from the planned launches (serviced apartments, hotels, office and retail spaces) by Country Garden, Hao Yuan, Guangzhou R&F Properties Co Ltd, CapitaLand and Greenland Group, the hotspot areas, ie, Danga Bay and Tanjung Puteri, could be flooded with an enormous supply of high-rise mixed development projects, inducing price volatility,” it said in a client note last week.
“For instance, Guangzhou R&F plans to launch 15 blocks of 35-storey apartment buildings under phase 1 in the second half of this year, which implies an enormous 3,150 units of apartments, assuming six units per floor.
“That said, investor interest could return to developers with projects in Iskandar Malaysia on the finalisation of the Johor Baru-Singapore rapid transit system. Also, the listing of IWH in the second half could re-rate existing players in Iskandar Malaysia.”
PA International Property Consultants Sdn Bhd executive director V Sivadas told StarBiz that buyers were in “transition mode” due to changes in state policy and foreign ownership.
“People still have money, but they are being more careful about how they use it,” he said. -- 2014 April
Korea
Canada
In March 2013 they announced a $360 million acquistion in Toronto but have yet to land their targeted development partner in Vancouver, B.C. which has been the hottest overseas real estate market outside Asia for the last two decades.
Singapore
Greenland is biding its time before entering Singapore
To be in the right place at the right time underscores the reason behind Greenland Holding Group's decision not to enter Singapore this year but also drives its interest to do so next year.
Having turned away from tabling a bid for a land parcel here in August, the Chinese state-owned developer is now actively studying upcoming land tenders in Singapore, said Greenland group executive vice-president Xu Jing.
"Because Singapore's land supply is low, competition is more intense. That's why we have not entered Singapore yet," Mr Xu told foreign media recently in Shanghai.
Given Greenland's strengths in mixed-use developments, the Shanghai-based developer is keen to undertake large-scale iconic projects in Singapore and Kuala Lumpur in Malaysia that will comprise homes, offices, hotels and retail malls.
"We hope to have a certain scale in our projects so that we have better control over project management costs," Mr Xu said. But the type of project that it will take on in Singapore will ultimately depend on the site's location and its land planning zone.
Greenland has already stood out among Chinese developers for its aggressive overseas moves in recent years, amid growing presence of Chinese investors in global real estate, and it is stepping up on its overseas expansion next year.
The group has already identified potential mixed-use projects in Kuala Lumpur, where it hopes to clinch them next year too.
"We are now in mature talks in Seoul, South Korea and Paris, France," Mr Xu added. "We may move into signing agreements soon."
Mr Xu explained that the group's internationalisation strategy began when it joined the list of top 500 companies globally in 2012 (ranked 268th), as the Shanghai government was encouraging Chinese companies in the Fortune 500 league to become international enterprises. Based on this year's targeted 400 billion yuan (S$84.8 billion) revenue, the group is set to rise further into the top 200 league.
Its headline-grabbing overseas moves included a US$500 million residential project in Sydney in 2013 and the US$1 billion mixed-use Metropolis project in Los Angeles. Greenland has invested in large-scale projects in South Korea's Jeju Island, including a healthcare town development project.
This year, Greenland acquired a historic site in Canary Wharf, London, for £600 million (S$1.2 billion) to build a mixed development, after its purchase of Wandsworth's Ram brewery site to build a tower comprising new homes and retail space.
It is also one of the biggest spenders in Malaysia this year, paying RM600 million (S$225 million) to Iskandar Waterfront Holdings for a 5.6 hectare site in Danga Bay, where it plans to develop properties worth about RM2.2 billion in gross development value. It also bought a 51.8ha plot in Jalan Tebrau, which it intends to start developing in about five years.
Greenland has since launched a preview for Greenland Jade Palace, a 759,609 square foot residential project in Danga Bay. Sales will begin around end-February next year.
Mr Xu said that pricing is not fixed yet as the costs computations and market forecasts are still being worked out.
Meanwhile, Greenland is seen trying to build up its brand in Singapore, going by the amount of prime-time television commercials that it has taken up recently. Some believe that it is drumming up interest ahead of its launch of the massive Jade Palace project.
Asked if he was concerned about the supply-demand dynamics in Iskandar, Mr Xu replied: "A good company will lead to create the market."
He recalled how Greenland started out some 20 years ago when Shanghai Pudong was still composed of tracts of farmland.
"We also asked ourselves the same question: 'Where are our customers?' But we have created the demand among Shanghai people - to have one apartment in the city and one villa outside the city. That was how we developed the market. This is similar to our Iskandar project, which is just across the causeway from Singapore."
In the same way, the group is hoping that its Johor projects serve as second homes for Singaporeans and, at the same time, meet the needs of local Malaysians.
Elsewhere, Greenland is seeking to gain a foothold in Thailand's luxury real estate market. It has lately teamed up with Thailand's Charoen Pokphand (CP) Group and Magnolia Quality Development Corporation to jointly invest 12 billion yuan in development projects, including luxury apartments, serviced apartments, retail and offices in Bangkok and Pattaya. -- 2014 Dec 16 BUSINESS TIMES
Having turned away from tabling a bid for a land parcel here in August, the Chinese state-owned developer is now actively studying upcoming land tenders in Singapore, said Greenland group executive vice-president Xu Jing.
"Because Singapore's land supply is low, competition is more intense. That's why we have not entered Singapore yet," Mr Xu told foreign media recently in Shanghai.
Given Greenland's strengths in mixed-use developments, the Shanghai-based developer is keen to undertake large-scale iconic projects in Singapore and Kuala Lumpur in Malaysia that will comprise homes, offices, hotels and retail malls.
"We hope to have a certain scale in our projects so that we have better control over project management costs," Mr Xu said. But the type of project that it will take on in Singapore will ultimately depend on the site's location and its land planning zone.
Greenland has already stood out among Chinese developers for its aggressive overseas moves in recent years, amid growing presence of Chinese investors in global real estate, and it is stepping up on its overseas expansion next year.
The group has already identified potential mixed-use projects in Kuala Lumpur, where it hopes to clinch them next year too.
"We are now in mature talks in Seoul, South Korea and Paris, France," Mr Xu added. "We may move into signing agreements soon."
Mr Xu explained that the group's internationalisation strategy began when it joined the list of top 500 companies globally in 2012 (ranked 268th), as the Shanghai government was encouraging Chinese companies in the Fortune 500 league to become international enterprises. Based on this year's targeted 400 billion yuan (S$84.8 billion) revenue, the group is set to rise further into the top 200 league.
Its headline-grabbing overseas moves included a US$500 million residential project in Sydney in 2013 and the US$1 billion mixed-use Metropolis project in Los Angeles. Greenland has invested in large-scale projects in South Korea's Jeju Island, including a healthcare town development project.
This year, Greenland acquired a historic site in Canary Wharf, London, for £600 million (S$1.2 billion) to build a mixed development, after its purchase of Wandsworth's Ram brewery site to build a tower comprising new homes and retail space.
It is also one of the biggest spenders in Malaysia this year, paying RM600 million (S$225 million) to Iskandar Waterfront Holdings for a 5.6 hectare site in Danga Bay, where it plans to develop properties worth about RM2.2 billion in gross development value. It also bought a 51.8ha plot in Jalan Tebrau, which it intends to start developing in about five years.
Greenland has since launched a preview for Greenland Jade Palace, a 759,609 square foot residential project in Danga Bay. Sales will begin around end-February next year.
Mr Xu said that pricing is not fixed yet as the costs computations and market forecasts are still being worked out.
Meanwhile, Greenland is seen trying to build up its brand in Singapore, going by the amount of prime-time television commercials that it has taken up recently. Some believe that it is drumming up interest ahead of its launch of the massive Jade Palace project.
Asked if he was concerned about the supply-demand dynamics in Iskandar, Mr Xu replied: "A good company will lead to create the market."
He recalled how Greenland started out some 20 years ago when Shanghai Pudong was still composed of tracts of farmland.
"We also asked ourselves the same question: 'Where are our customers?' But we have created the demand among Shanghai people - to have one apartment in the city and one villa outside the city. That was how we developed the market. This is similar to our Iskandar project, which is just across the causeway from Singapore."
In the same way, the group is hoping that its Johor projects serve as second homes for Singaporeans and, at the same time, meet the needs of local Malaysians.
Elsewhere, Greenland is seeking to gain a foothold in Thailand's luxury real estate market. It has lately teamed up with Thailand's Charoen Pokphand (CP) Group and Magnolia Quality Development Corporation to jointly invest 12 billion yuan in development projects, including luxury apartments, serviced apartments, retail and offices in Bangkok and Pattaya. -- 2014 Dec 16 BUSINESS TIMES
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