association International News

Incomplete projects hamper Vietnam
Incomplete projects hamper Vietnam

Despite Vietnam’s real estate market grabbing attention and headlines for its strong performance in recent years, prospects in the north continue to be hampered by large numbers of incomplete projects.  Hanoi recorded 5,400 transactions and HCMC 5,870 respectively between January and May 2017 with May showing a strong average of 13 percent growth nationwide. The majority of deals are being transacted in the middle to high-end sectors though only supply is placing limits on affor Read More


Japanese go ultra-luxury in Phuket
Japanese go ultra-luxury in Phuket

A leading Japanese property developer has entered into a joint venture to create an ultra-luxury residential project in Phuket, Thailand worth an estimated USD174 million. Kajima Overseas Asia has joined with Minor International (MINT), a SET-listed operator of hotels and restaurants worldwide to develop Avadina Hills; 16 luxury villas spread over 1.8 hectares. Phase 1 will see 11 villas built by 2018 with Phase 2 completed by 2020.   MINT also announced development of 97 luxury apart Read More


Banda Malaysia facing collapse
Banda Malaysia facing collapse

The largest real estate project in Malaysia faces collapse after the government cancelled the contract with the Chinese-Malaysian developer in May after it failed to meet payments.  Banda Malaysia was intended to be a flagship development creating a new business district and transport hub in downtown Kuala Lumpur spread across almost 200 hectares.  It was also intended to be location of the stunning new terminus of the KL – Singapore high speed rail link and house the ASEAN Read More


SolarHome  targets Myanmar
SolarHome targets Myanmar

A Singapore-based company providing solar energy solutions for rural households not connected to electricity grids is looking to Myanmar as its next target market. SolarHome, which currently has operations in Cambodia, Indonesia and the Philippines, already has a presence in Myanmar but is hoping to invest up to USD25 million over the next five years, starting with an initial USD1.5 million in 2018. SolarHome’s entry point into the Myanmar market is basic home lighting projects which Read More


Asia Square 2 in Capitaland’s sights
Asia Square 2 in Capitaland’s sights

CapitaLand, Singapore’s leading real estate developer and fund manager, is negotiating to purchase Asia Square 2 according to media reports. Located in the ultra-exclusive and prime Marina Bay district in Singapore, the BlackRock-owned 46-storey Grade-A commercial building is estimated to be valued at more than USD1, 900 per square foot. In June 2016, Asia Square Tower 1 was sold to the Qatar Investment Authority (QIA) for around USD2.4 billion, one of the largest ever property deals Read More


Thai Property Awards launched
Thai Property Awards launched

The annual PropertyGuru Thailand Property Awards, which seeks to reward the finest developers, properties and real estate personalities across the Kingdom, will return for its 12th annual edition this September. The event follows the success of the recent 2nd Cambodia Property Awards in March. The organiser expects to receive more than 300 entries from developers with ongoing projects located in the top tier markets of Bangkok and Phuket, as well as emerging destinations. The nomination proce Read More


Thai beer tycoon plans city district
Thai beer tycoon plans city district

A USD3.5 billion plan to create a ‘city within a city’ in the Bangkok metropolis has been unveiled by Thailand’s richest man. Charoen Sirivadhanabhakdi, the billionaire founder of Chang Beer, has worked with star US architect firm Skidmore, Owings & Merrill to design ‘One Bangkok.’ The project will be Thailand’s first “fully integrated district that is built on people-centric principles and a focus on environmental sustainability and smart-city li Read More


Singapore eases rules
Singapore eases rules

Following more than three years of falling property values, Singapore has relaxed some rules now houses are more affordable. The easing of restrictive measures first introduced in 2009 includes sellers’ stamp duty only applying for three years instead of four, a lowering of the rate of duty to 4 percent for properties sold in the third year, to a maximum of 12 percent for dwellings sold within one year. As a result, home prices in Singapore fell 3 percent last year, and have declined Read More


PropertyGuru moves toward profit
PropertyGuru moves toward profit

Southeast Asia’s leading real estate website, PropertyGuru, expects to surge into profitability in 2017 as it experiences massive growth in ASEAN property markets, especially in Vietnam and Indonesia. Vietnam recently became PropertyGuru’s fifth market after Singapore, Malaysia, Thailand and Indonesia. “We have hyper-growth, our revenues are growing over 30 percent,” CEO Hari Krishnan, told Deal Street Asia. “We are a market leader in four of the five markets and Read More



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