News by PC Lee

Thai-listed Nirvana Daii PCL has signed an agreement today with Banyan Tree Group to brand the Banyan Tree Residences Riverside Bangkok, a super-luxury riverside condominium.

LMIRT Management, manager of Lippo Malls Indonesia Retail Trust (LMIRT), is acquiring the entire issued share capital of PT Mitra Anda Sukses Bersama (PT MASB) from its owners for 310 billion rupiah (S$32.2 million or RM99.53 million).

CapitaLand says it has agreed to buy Guozheng Center, a newly completed office development in Yangpu District, Shanghai, China, for RMB2.64 billion (S$535 million).

The thirst for land is now spreading into the en-bloc market, says DBS Vickers, with a consortium Oxley-Lian Beng Venture putting in the S$575 million (RM1.77 billion) winning bid for Rio Casa.

OCBC is maintaining its ‘buy’ on Wing Tai Holdings (Wing Tai) after the latter made an unconditional voluntary takeover offer for Wing Tai Malaysia Bhd (WTM).

Bukit Pelali at Pengerang is the 363-acre project that is Pengerang’s first strata township.

DBS’s top picks for beneficiaries to the potential relaxation of property measures in Singapore are UOL Group and Frasers Centrepoint even though most developers have re-rated following the positive sentiment in the Singapore property market.

Frasers Centrepoint posted a 42.2% slide in 2Q earnings to S$71.2 million from a year ago on lower sales.

Kevin Xayaraj has stepped down from his position as CEO and executive director of Sabana Real Estate Investment Management (SREIM), the manager of Sabana REIT.

OCBC is re-iterating its “buy” call on Lippo Malls Indonesia Retail Trust with a fair value of S$0.435.