Keppel names three new independent directors
Keppel Corp is adding three new independent directors to its board. From Jan 2, the board will comprise 11 directors, 10 of whom are independent. Teo Siong Seng, 64, the executive chairman and managing director of Pacific International Lines (PIL), joins the board on Nov 1.
NUS, Keppel and SLNG tie-up to develop better cooling technology for data centres
The National University of Singapore’s Faculty of Engineering, Keppel Data Centres Holdings and the Singapore LNG Corporation (SLNG) have partnered to develop novel, energy-efficient and cost-effective cooling technology for data centres. The innovation could further pave the way for more sustainable and compact data centres, the partners said in a joint statement on Monday.
GIC buys grade-A office tower in Paris
GIC has acquired a grade-A office tower in Paris, France, which will present opportunities for value creation, the sovereign wealth fund said. Located in the La Défense business district in Paris, PB6 is a 40-storey asset with 60,000 square metres of prime office space, and is fully leased to French utility company EDF. It did not disclose the price tag for the acquisition.
Singapore Reits going on a record fundraising spree
Singapore real estate investment trusts (Reits) are back for more cash, pushing secondary share sales to record levels. Keppel Pacific Oak US Reit launched a private placement of up to US$75.6 million on Thursday, a day after Mapletree Commercial Trust raised S$918.5 million through a private placement and a preferential offering.
honestbee eyes co-working play, beefs up management team
Honestbee may be in the thick of rebuilding its fallen house, but it is also eyeing a real estate play. The startup plans to sub-lease about half of its Delta House office space for co-working, pending approval from its landlord. In a recent interview with The Business Times, honestbee chief executive Ong Lay Ann said that the co-working space, called b. at Delta, would be able to seat up to 100 tenants. It would comprise…
Stamford Land unit wins appeal in Australia for development consent
Stamford Property Services, a unit of Stamford Land, has won an appeal against a firm that objected to the Mainboard-listed company’s application for consent to redevelop a site. Stamford had applied for development consent to redevelop its site at 93 Macquarie St in Sydney, Australia, where its Sir Stamford at Circular Quay hotel is located.
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Forum: Redesign housing estates to encourage mingling
Gone are the days when someone could live all his life in one place, with few things changing during his lifetime. Rapid and affordable mobility permanently altered the landscape of human settlement.
Global Economy & Global Real Estate
China’s economic growth hits 27-year low in third quarter
China’s Sept property investment resilient, buoyed by new construction
Crowded Hong Kong goes underground to overcome land crunch
Japan’s inflation hits 2½-year low, raises stimulus chance
Japan’s September exports fall 5.2% y-o-y: MOF
South Korea exports set for another plunge in October as trade woes drag on
EU begins talks on divisive 1.1 trillion euro post-Brexit budget
US imposes tariffs on EU goods; targets Airbus, wine and whisky
Brexit will happen by Oct 31 despite letter to EU: UK
Moving Indonesia’s capital opens up fresh options in real estate
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