Condominium on Hong Kong’s Shouson Hill Sold for $92M and More Asia Real Estate Headlines

A luxury residential dwelling on Hong Kong’s Shouson Hill sells for $92 million, with that anecdote leading Mingtiandi’s headline roundup nowadays. A Singapore house moreover makes the news as its sale units a brand contemporary benchmark in the valid-class bungalow market, and central Tokyo condominium prices ease from last yr’s file highs.

Condominium on Hong Kong’s Shouson Hill Sold for $92M

A luxury residential dwelling on Hong Kong’s Peak has been sold for HK$717 million ($92 million), making it one in all the supreme transactions this yr.

Condominium 3 of 15 Shouson Hill used to be sold on Monday, in keeping with the register of transactions. The purchaser has signed a 35-day money fee idea. Learn more>>

Singapore Bungalow Being Sold for Myth Mark

A freehold bungalow below building in Singapore’s Tanglin Hill assign is in the early stages of being sold for near S$93.9 million ($69.7 million), or practically S$6,200 per square foot on the land assign of 15,150 square ft (1,407 square metres) — a brand contemporary file land rate in the valid-class bungalow market.

The two-storey bungalow, with a excessive-ceiling attic and a colossal basement, can have six bedrooms and a swimming pool. The property’s built-up assign is quite 30,000 square ft, including the basement, which holds the entertainment areas, a wine cellar and house for over a dozen autos. Learn more>>

Central Tokyo Rental Costs Fell 16% in First Half

The standard stamp of a brand contemporary house in Tokyo’s 23 central wards in the first half of 2024 dropped 16.3 p.c from a yr earlier to JPY 108.6 million ($690,000) after hitting a file excessive the previous yr, however property prices live at a excessive level, a be taught institute said Monday.

Stricken by the decline in central Tokyo, the unique for the wider metropolitan assign maintaining all of the of the capital and surrounding prefectures moreover fell 13.5 p.c to JPY 76.8 million, the first decrease in three years, the Real Estate Financial Institute said. Learn more>>

Planning Resolution Delayed on Gaw Capital London Residential Venture

Hong Kong non-public fairness firm Gaw Capital and vogue manager Metropolis & Docklands idea to create a 52-storey tower with spherical 460 apartments on the positioning of low-level command of work buildings at 4-5 Harbour Alternate Sq. come London’s Canary Wharf.

Designed by Invent Architects, the One East Point mission has been urged for approval, however a name has been delayed to enable for a spot focus on with to compare probably building work disruption in the native assign. Learn more>>

Owners of Office Flooring in Hong Kong’s The Heart Offering 40% Reductions

When The Heart skyscraper used to be sold in Hong Kong in 2017, the file $5.2 billion designate used to be so excessive that investors had to invent a consortium to design close a majority stake and divvy up the floors. That decision is snappy changing into a millstone.

Money-strapped owners, many of them Chinese language homebuilders, are in actual fact competing with one any other to secure revenue from tenants or patrons on the 73-storey tower after housing gross sales in the mainland collapsed. Values have been dragged down as a result, with some house now provided at nearly 50 p.c not up to the acquisition stamp. Learn more>>

Blackstone Raises Over $1B for First-Ever Eastern Home PE Fund

Blackstone’s first-ever non-public fairness fund for Eastern particular person investors raised $1.2 billion factual four months after its launch, adding to signs that americans in the Asian nation are warming to different assets.

The greenback-denominated Blackstone Non-public Equity Recommendations Funding Belief reached that quantity on the pause of June, in keeping with figures from the Japan Securities Dealers Association. Learn more>>

IOI Properties Procuring Petaling Jaya Mall for $145M

Malaysia’s IOI Properties is acquiring the Tropicana Gardens Mall in Petaling Jaya for MYR 680 million ($145 million).

The seven-storey Tropicana Gardens Mall has an total sinister ground assign of two.95 million square ft (274,064 square metres) and a gather lettable assign of 1.05 million square ft with an occupancy rate of 77 p.c. Learn more>> 

Flooring in Singapore’s Suntec Metropolis on the Market at $31M

Your total Thirty first ground of Suntec Metropolis Tower 1 in Singapore has been do up for sale through a non-public treaty, with a info stamp of S$41.8 million ($31 million).

This translates to spherical S$3,403 per square foot basically based fully totally on the total strata assign of 12,282 square ft (1,141 square metres), original advertising and marketing and marketing agent PropNex said Tuesday. Learn more>>