Malaysia reduces minimum property ceiling for foreigners

The Malaysian government has significantly reduced the minimum property purchasing amount for foreign buyers from US$238, 581 to US$143,149 in a move which has brought support in some quarters and opposition from others. While the country’s biggest property developer group, the Real Estate and Housing Developers’ Association (REHDA), applauded the move saying it will help shift vacant high-rise...

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Shift in Chinese manufacturing drives Vietnam industrial rent rises

The US-China trade dispute is fuelling an exodus of Chinese manufacturing to SE Asian nations with Vietnam directly benefiting. According to a new report from real estate analysts JLL Vietnam, strong demand for industrial space saw rental price rises in Q2 2019 by up to 15.8% year-on-year with average occupancy in South Vietnam’s Southern Key Economic Zone hitting 81%. Land leasing costs in ...

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Thailand’s largest ever property development underway

Bangkok is set to see development of the largest ever private sector property initiative with the launch of the US$3.9bn, 1.8 million m2 One Bangkok complex. The five-tower complex will incorporate 500 company offices employing 60,000 people, five hotels, 1,359 condominium units and multiple shopping malls. When complete, one of the towers will be in the top 10 tallest buildings in SE Asia. ...

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Real Estate Investment Drives Myanmar Economy

A booming property market in Myanmar has seen real estate rank in the top three of sources for foreign direct investment in the last year. USD1.2 billion in FDI flowed into the country's real estate sector in the fiscal year 2017-2018, trailing only the USD1.7 billion that went into manufacturing in the same period, according to a report by the Directorate of Investment and Company Administrati...

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Vinhomes to List on Hcmc Stock Exchange

Vietnam’s largest property developer is listing 2.7 billion shares on the Ho Chi Minh City Stock Exchange (HoSE) for its luxury villa and serviced apartment subsidiary Vinhomes. Hanoi-based Vingroup was established in 2014 owns 69.67 percent of Vinhomes’ charter capital which it has listed with a value of USD1.17 billion. Vingroup owns multiple realty brands including Vinhomes Royal City (Ha...

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Experts Share Visions At 7th Annual Vertical Cities Conference

The 7th Annual Vertical Cities conference, organised by marcus evans, was hosted in Thailand in March with industry experts gathering to share their knowledge on vertical cities across the spectrum of planning, design, building operation, sustainability and long-term commercial viability. This year’s event was held over three days from March 7 to 9 at The Peninsula Bangkok, Thailand. The summit...

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Capitaland Expands Local Footprint

Singapore’s leading property developer CapitaLand purchased the high-rise 37-storey Pearl Bank Apartments in the city-state’s Chinatown area for USD550 million in January to redevelop the site. The 288-unit is located in a prime location on a 82,376 square feet plot in Outram Park on top of Pearl Hill. According to a statement by the company, CapitaLand intends “to redevelop the site into a ...

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Uk Sells Thai Embassy

The UK Foreign and Commonwealth Office (FCO) is to sell its 3.7ha Bangkok embassy in the Thai capital’s exclusive Wireless Road area for USD600m. The sale represents the largest ever real estate transaction by the FCO and also, according to the FCO, the “biggest land deal in Thai history”. The Bangkok embassy is being sold to a joint-venture consortium of Hongkong Land, a member of the Jardi...

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Vietnam Real Estate Mergers Hit Record High

Sustained foreign investment in Vietnam’s real estate sector resulted in mergers and acquisitions (M&A) reaching a record total of USD1.5 billion in 2017, according to a recent report by real estate and investment management firm JLL, reported in DEALSTREETASIA. Foreign investors from Japan, Korea, Singapore and China see Vietnamese real estate as an attractive opportunity, with M&A and...

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Myanmar Interest Rates Under Pressure

The government of Myanmar is under pressure from the real estate industry to reduce the high capital gains tax and interest rates on borrowing to boost investment in the construction and property sectors. The Myanmar Construction Entrepreneur Association (MCEA) is leading calls for capital gains tax to be reduced from 30 percent to 5 per cent. Property developers are also leading calls for borr...

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