Â鶹ӳ» Asia-Pacific News – Page 138
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Prologis loses chief and halts new developments
GLOBAL – ProLogis, the world’s largest logistics developer, has announced the resignation of chief executive officer Jeffrey Schwartz at a time when the company is halting further developments.
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Foreign investors get smaller piece of the pie
CHINA – Domestic investors took an increasing larger share of the real estate investment market in China in the first half of the year, a report by property consultants DTZ shows.
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Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from Clerestory Capital Partners.
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Opposing markets halt TKP’s real estate gains
NETHERLANDS – TKP Pensioen has revealed the financial crisis has brought the performance growth of its real estate investments to a standstill.
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Santa Barbara County plans international expansion
UNITED STATES - Santa Barbara County Employees’ Retirement Association is looking at expanding into international real estate for the first time.
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Grosvenor to buy a ride on the Chinese dragon
ASIA/UK – Grosvenor, the London-based group of international property investment, development and fund management businesses, has launched a $600m (€468.7m) China retail fund.
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Prupim phases sustainability push beyond the UK
UK/GLOBAL – Prupim, the real estate investment manager, is planning to expand its approach towards sustainability worldwide and address the performance of its international portfolio, with research due to start in North America next month.
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Mixed opinions surface over Middle Eastern property
MIDDLE EAST – Experts are predicting the Middle Eastern real estate markets will significantly outperform all other regions yet the latest data from a central bank suggests real estate valuations in the region have already been hit by the credit crunch.
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Dip in property values lower French and Japanese gains
FRANCE/JAPAN – Commercial real estate returns in the French and Japanese property investment markets have quickly slowed to deliver lower returns, the IPD’s biannual studies have revealed.
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Merrill to invest $2.65bn in Asian real estate
ASIA – Merrill Lynch has closed its Asian Real Estate Opportunities Fund after raising $2.65bn for investments despite the turbulent economic climate.
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Investors call for Thai real estate rule change
THAILAND – Thailand’s government is being urged to relax foreign ownership regulations governing real estate, in a bid to shore up its residential property market during the global economic downturn.
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Emerging markets real estate to feel the pinch
GLOBAL - The International Monetary Fund (IMF) has warned the real estate sector in the emerging markets will not be immune from the global credit crisis, contrary to the prediction of many analysts.
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Pennsylvania Public School takes $286m risk
UNITED STATES - Pennsylvania Public School Employees Retirement System has allocated $286m (€210m) in two commingled funds to target high returns in European mortgages and Asia.
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Singapore expected to bounce back strongly
SINGAPORE - Singapore remains the centre of choice in Asia for long-term investors seeking stable real estate investment returns, according to a new survey by iProperty.com.
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Swiss funds still favour real estate
SWITZERLAND – Nine out of 10 Swiss pensions funds are indirectly invested in real estate while the majority also directly invest in the market, according to research from real estate investment specialist Sal Oppenheim.
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Ohio School Employees moves into Asia
UNITED STATES - The School Employees Retirement System of Ohio has approved a commitment of $50m (€34.2m) in the Carlyle Asia Real Estate Partners II commingled fund.
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Knight Frank expands Middle East operations
MIDDLE EAST - London-based global real estate management and advisory firm Knight Frank has extended its global network by opening a office in Bahrain to cover the burgeoning Middle Eastern property market.
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CalPERS uses $700m to tap opportunity
UNITED STATES - California Public Employees Retirement System is continuing to pursue its international real estate investment strategy by placing $700m (€493.8m) in real estate commingled funds generating targeted net IRRs of 20%.
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Corio to widen emerging markets presence
NETHERLANDS - Property investor and manager Corio is looking to increase its 6% allocation in emerging markets real estate to 20%, in a bid to maximise the differentials between emerging and mature markets.
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AXA REIM steps up Asian presence
ASIA - AXA Real Estate Investment Managers (AXA REIM), the global property arm of French financial services group AXA, has opened an Asian headquarters in Singapore as the springboard for moves into India and Japan.
