Commercial Property

Investment volume in APAC commercial properties reach US$83.5b in the same period.

This is up from $6.36b in the same period last year.

ESR Cayman Limited is set to acquire ARA Asset Management for US$5.2b.

This was mainly due to the increase in corporate tax in the UK.

This is compared to a net loss of $2.53b in the same period last year.

This could also drive the tourist and business sector in Macau.

This followed a net loss of $92.5m in 2020.

The company recorded a US$1.07m loss in the same period last year.

The Zhangyuan district in the city will be turned into an international cultural and commercial landmark.

The new project will be the newest large floor plate building in Central in 18 years.

This is thanks to rents that are expected to drop in the next 12 months.

A total of 89 deals were recorded during the period and is expected to reach 200 by year-end.

The Grade A office market is seen to record a net withdrawal in the second half. 

If passed within the legislative session, it will likely be in effect by late 2021 or early 2022.

Rents rose 1.2% quarter-on-quarter in the second quarter of the year.

CBRE reported office and retail sectors are likely to be the biggest gainers.