Connect with us

Real Estate

Singaporean sovereign wealth fund Buys Tokyo Offices as Japan Upgrades Growth Forecast

The deals come during the same week that the Japanese government upgraded its outlook for economic growth in the world’s third-largest economy.

Daniel Lorenzzo

Published

on

Activity in Japan also remained strong, with transaction volume rising 30%

Singaporean sovereign wealth fund, is acquiring a 43 percent stake in Shinjuku MAYNDS Tower, a 97,978 square metre Grade-A office property in Tokyo for 62.5 billion yen ($558 million), according to a press release from the fund yesterday.

The Shinjuku SWF deal came just one day after a real estate affiliate of Prudential Financial announced the acquisition of J Tower in Tokyo’s suburban neighborhood, as the latest in an $808 million dollar series of Japanese acquisitions by the company over the past 14 months.

The deals come during the same week that the Japanese government upgraded its outlook for economic growth in the world’s third-largest economy.

GIC, which manages over $100 billion in assets, in a statement called the Shinjuku MAYNDS Tower deal a unique opportunity for the fund to acquire a sizeable and stable income-producing asset

GIC Buys into Shinjuku

Lee Kok Sun of GIC

Lee Kok Sun of GIC

The Singapore sovereign fund is buying a 43 percent stake in Shinjuku MAYNDS Tower from Daiwa Office Investment Corporation, with the latter retaining the same stake as that of GIC. The Grade-A office is 34-storey office building in Shinjuku, one of Tokyo’s largest commercial and retail districts.

Located in the newly-redeveloped area south of Shinjuku Station, it is five-minute walk away from the main JR Shinjuku Station. The property has attracted numerous quality tenants due to its prime location, GIC said in the press release.

 

Source link

Comments

Real Estate

How COVID-19 regulations are changing landlord-tenant dynamics

The negotiations are dependent on the circumstances of each landlord and tenant, with landlords attempting to strike a balance between maintaining earnings and supporting tenants through the crisis period to sustain occupancy levels and income over the longer term.

Daniel Lorenzzo

Published

on

Hastily enacted regulations addressing a fast-unfolding pandemic have introduced a layer of complexity around leases between tenants and landlords.

(more…)
Continue Reading

Real Estate

Why 5G is racing ahead in Asia

Hong Kong, Seoul, Sydney, Taipei, Manila, Tokyo and Shenzhen have already introduced 5G networks. In May, Bangkok became the first city in Southeast Asia to roll out a 5G network, while Singapore in August started a six-month trial.

Daniel Lorenzzo

Published

on

iStock-1135535759.jpg
Governments and businesses are keen to take advantage of 5G technology like High-speed connectivity, reduced latency and greater reliability

Asia Pacific is leading the charge for the next generation of mobile connectivity. Major cities across the region are rolling out 5G networks this year, which are poised to reshape connectivity and big data with blazing-fast download speeds.

(more…)
Continue Reading

Environment

Real estate Sustainable development spurred by COVID-19 pandemic

There is an increasing awareness of the environmental impact of real estate: the World Green Building Council suggests that buildings are responsible for upwards of 40% of the world’s greenhouse gas emissions.

Daniel Lorenzzo

Published

on

Since the onset of the COVID-19 pandemic, the real estate sector worldwide is stepping up its response to climate change and sustainable development.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,625 other subscribers

Trending