Hotels, hospitals and apartments dominate today’s real estate stories from around the region as Singapore’s best-known resort operator decides to open its first resort in its home city, a co-living operator reveals a mainland expansion plan, and a Shenzhen-based developer turns to an Indonesia partner for hospital expertise. Read on for all these stories and more.
Singapore’s Banyan Tree Plans First Hotel in Home City
Those who enjoy spending their days or evenings at the Singapore Zoo, River Safari or Night Safari will soon be able to extend their experience past nightfall too.
A full-service hotel run by Banyan Tree Holdings, a Singapore-based hotel chain known for its luxe resorts around the world, will be built in the area. When completed, it will be Banyan Tree’s first resort in Singapore. Read more>>
Gaw-Backed Harbour Apartments Plans Mainland Expansion
Rented flats targeted at tech-savvy, upwardly mobile, and certainly more sociable millennials are sprouting like mushrooms in the country’s major cities. And Shanghai’s Harbour Apartments typifies the breakneck speed of change now taking place in the sector.
The firm – which bills itself a “co-living” flat operator – started operating in 2015 and recently received 400 million yuan ($60.14 million) investment from two firms including Hong Kong-based Gaw Capital Partners. Read more>>
China Merchants Teams with Lippo Group for Mainland Hospitals
Lippo Group, one of Indonesia’s largest property conglomerates, has agreed to a $1 billion deal with Chinese state-owned conglomerate China Merchant Group for the construction of health facilities in the world’s second largest economy.
The deal is part of Lippo’s plan to expand its hospital business in Asia. The group now has one hospital and 10 clinics in China; 12 hospitals in Japan; four hospitals in Myanmar; 100 clinics combined in Singapore and in Vietnam. Read more>>
Meet UrWork Boss Mao Daqing
When Mao Daqing was growing up in Beijing in the 1970s, his grandfather, a nationally celebrated architect, would take him to see the sites he had designed, such as the Great Hall of the People, the meeting place of the Communist government in Tiananmen Square.
Mao Ziyao taught his grandson to appreciate art and to draw, and his attention and enthusiasm had a profound effect on the young boy. Read more>>
Chinese-Backed Aussie Firm Aims for A$10B Hotel Portfolio
Chinese-backed investor IProsperity has assembled a major pipeline of acquisitions for the next six months with aims to boast a portfolio of $10 billion worth of hotels and commercial property by 2020.
IProsperity is looking to buy individual hotels as well as portfolios of hotels in most major Australian cities by next April. Read more>>
HK’s Great Eagle Renovating DC Hotel
The hotel at the corner of 12th and K streets NW, formerly a Sheraton Four Points, is undergoing a full renovation that will include the addition of two floors of co-working, new storefronts on the ground floor and a new lobby and other common areas for the hotel.
The work comes more than three years after The JBG Cos. — now part of JBG Smith Properties (NYSE: JBGS) — sold the 265-room hotel to an affiliate of Langham Hospitality Group for $69 million, although we’ve heard the hotel will not be a Langham-branded property. Read more>>
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