to 1.24m sq.ft.The property also has approval to increase its GFA to 1.55m sq.ft. A consortium led by Singapore's Perennial Real Estate Holdings announced it had entered into a share purchase agreement with the e-commerce company that valued the tower at $1.7 billion. “As a result of increased demand for their services and strong capital positions, tech and ecommerce giants have remained active in their expansion and investment plans, with global … The purchase could have been driven in part by the tapering of office supply in the CBD, response for the development has been positive.He added, “But the outlook for the property sector in the near-to-mid term is still very unclear and investors and buyers should exercise extreme prudence. E-commerce giant Alibaba recently agreed to acquire a 50 percent stake in Singapore’s AXA Tower, a sign that technology and e-commerce companies are well-positioned to weather the COVID-19 pandemic. 中国のEC最大手アリババグループが、同社シンガポール法人の入居する中心部タンジョン・パガーの50階建て高級オフィスビル「AXAタワー」の権益50％を取得することが … Cross Street Exchange (formerly known as China Square Central) and Alexandra Technopark, which respectively transacted at S$648m and S$606m, were transactions between Frasers Commercial Trust and Frasers Logistics & Industrial Trust.Bucking the trend, however, the GLS programme awarded five residential sites in Q1 2020, up from only one award in Q4 2019, and collectively accounted for some S$1.4bn.U.S. The stake in AXA Tower is being viewed as solidifying Alibaba's commitment to the city state. “Alibaba is already an anchor tenant at AXA Tower, and we are pleased to have their support in creating an iconic landmark in Singapore’s CBD.” The deal will see Alibaba Singapore, a subsidiary of Alibaba Group Holding Limited, acquire a 50% interest in the Perennial-led entity, which indirectly owns the 50-storey AXA Tower. A slowdown is also expected in the city-state’s commercial sector as remote working measures gather pace to contain the virus; however, opportunities are expected to emerge in the logistics, premium office building, hotel segments and CBD residential.An earlier report, Colliers said that Singapore remains an attractive top investment destination.
JLL on May 6 announced that it acted as the real estate advisor to Alibaba Singapore, part of Alibaba Group Holding Limited, in its 50% share purchase agreement (SPA) of AXA Tower from Perennial Real Estate Holdings Limited (“Perennial”) through Perennial Shenton Investors Pte. He has reported for the Herald Sun, REFI Europe, S&P Global Market Intelligence, Leader Newspapers, and more. You must have JavaScript enabled to use this form.
JLL on May 6 announced that it acted as the real estate advisor to Alibaba Singapore, part of Alibaba Group Holding Limited, in The Perennial-led consortium had purchased AXA Tower in 2015 for $1.17 billion, or $1,735 psf of net lettable area (NLA). should it integrate hotel and residential usage under the CBD incentive scheme.The transaction comes after Perennial Real Estate Holdings and a consortium of investors, including Singapore Press Holdings, Subscribe to our free newsletter for the latest in Asia Pacific real estate and REIT news and intelligence.Stay up to date with our daily newsletter for the latest Asia Pacific REIT news and intelligence.APAC Real Estate tracks real estate investment trusts (REITs) listed in markets throughout Asia Pacific. They must do their own research and analyse if they will be getting the best bang for their buck.”With COVID-19 expected to persist through 2020 or even beyond, property across all Notwithstanding a slew of support measures introduced by the Government through its Unity Budget, Resilience and Solidarity Packages, transactions have fallen across the investment sales, office, industrial, retail and residential sectors, alluding to a highly cautious stance, it added in its latest analysis.Q1 2020 recorded S$3.3bn worth of investment sales, down a substantial 34% from the S$5.0bn of Q4 2019, before the “circuit breaker” came into force. The deal is based on a property purchase price of $1.68 billion for AXA Tower. 契約は6月に完了予定で、アリババがAXAタワーの権益の50％を取得する一方、残りの50％はSPHとペレニアルが新設する会社「PRE13」へと移管。取引完了後は、アリババ・シンガポールとPRE13で合弁会社を設立し、AXAタワーの再開発に着手する計画だという。 While the private sector was the primary driver of investment sales in Q4 2019 – accounting for 95.3 per cent of total investment sales in the last quarter of 2019 – in Q1 this year, it only accounted for 52.6 per cent.Transaction quantums have also dropped: from 14 transactions exceeding S$50m in Q4 2019, Q1 2020 witnessed only four transactions of such magnitude, and among those, two were arising from related party transactions. As a result of increased demand for their services and strong capital positions, they have remained active in their expansion and investment plans, with global gateway cities like Singapore proving an attractive destination for deployment,” said Regina Lim, Head of Asia Pacific Capital Markets Research, JLL.One recent report said that Singapore‘s residential sector performed relatively well in the first quarter, but an unpredictable economic outlook could limit home sales and new projects.