Archive for category: Misc

The Tengah Plantation Close EC is a joint venture between the Singapore Government and major property developer Oxley Holdings, offering one Tengah Plantation EC of the largest executive condominium projects in Singapore. It is set to be completed by 2021 and will provide amenities and transportation links to the Bukit Batok, Jurong East and Clementi MRT stations.

Capitaland Investment (CLI) recently announced an off-market purchase agreement to acquire six multifamily assets located in central Osaka, Japan, for $141.4 million. Entersing into this agreement with an “established Osaka-based residential developer”, was part of CLI’s flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF). This deal marks COREF’s expansion into the multifamily sector and brings total investment of CLI in Japan to about $1.1 billion across 60 properties.

The six assets are conveniently located close to the commercial districts of Umeda and Namba and are situated within walking distance of their respective subway stations.

The portfolio consists of 428 premium one-bedroom apartments that are specifically designed to attract corporate tenants and middle-income couples. These properties are expected to be completed in phases from May 2023 to June 2024.

On the same day, CLI announced two key appointments in Japan and China. Hideto Yamada will assume the role of managing director for Japan from April 17, while Kara Wang has been appointed as Chief Investment Officer for CLI China effective May 5.

Mr Hideto Yamada, a veteran in Japan’s real estate sector, will take over from Tan Lai Seng, who will be appointed as adviser to CLI Japan. Mr Yamada will be tasked with further developing CLI’s partnership with its onshore capital partners, actively grow CLI’s funds under management (FUM) for its private, public and lodging funds, and to identify strategic merger and acquisition opportunities.

Ms Kara Wang, as a senior member of the CLI China leadership team, will be responsible for enhancing CLI’s position in China, a core market for the group. She will look into direct investments for CLI China’s onshore and offshore fund products, develop the group’s onshore capital markets capabilities, and drive inorganic platform acquisitions. Ms Wang will also serve as CLI’s country representative for Hong Kong.

These two appointments signal CLIs commitment to strategically pursuing growth opportunities in Japan and China, accompanied by its expansion into the multifamily sector in central Osaka, Japan.