GIC, Goldman Marketing Aussie Senior Living Assets


GIC’s Serenitas operates retirement villages in Australia

In today’s regional news roundup, Singapore’s GIC appeals for mighty help in the potential sale of its Australian retirement village business, an ESR fund grabs eight logistics properties Down Under and Chinese data center operator GDS is evaluating an SGX listing.

GIC taps Goldman Sachs to find buyer for Australia’s Senior Living platform

Singapore’s sovereign wealth fund GIC has reportedly hired Goldman Sachs to test market interest in its Australian lifestyle communities company Serenitas.

The company is believed to be worth between A$800 million and A$1 billion ($540 million and $950 million), and it is understood the US investment bank has been canvassing buyers for a potential sale by GIC, although a formal sales process is not underway. Learn more>>

ESR closes fund with $107m in Australian logistics purchases

Hong Kong-listed warehouse giant ESR has once again expanded its Australian logistics empire with a series of purchases across the country in a sign that warehouses are still hot.

ESR Australia Logistics Platform II completed purchases worth A$158.6 million ($107 million), acquiring eight logistics properties in Melbourne, Brisbane and Perth, buying two separate portfolios. Learn more>>

GDS Explores Singapore Listing After Hong Kong, US: Sources

Data center operator GDS Holding is considering a secondary listing in Singapore in addition to the United States and Hong Kong, according to people familiar with the matter.

The Shanghai-based company has held initial talks with potential advisers about a plan to list its shares on the Singapore Stock Exchange, said the people, who asked not to be identified while discussing private information. It has not decided whether it will raise capital through listing, the people said. Learn more>>

Horizon Towers takes another crack in S$1.1 billion joint sale

Horizon Towers, located on a 1.9 hectare (4.7 acre) site with a 99-year lease in Singapore’s main District 9, is back on the market at a reserve price of $1.1 billion Singaporeans ($780 million).

Taking into account an additional rental premium estimated at S$277 million, the land unit rate for collective sale is S$2,049 per square foot per plot ratio for the 204,742 square foot site. (19,021 square meters), according to sole marketer JLL. Considering 10% gross floor area due to high development base, the land unit rate is S$1,862 per square foot per plot ratio. Learn more>>

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Sultan Plaza revived at potentially lower reserve price of S$325m

The Sultan Plaza commercial building in Singapore’s Muslim Quarter will be relaunched again on Friday, after its two previous attempts failed to attract a suitable buyer, exclusive marketing agent Teakhwa Real Estate said on Thursday.

The process to lower the reserve price to S$325 million ($231.5 million) from S$360 million is still ongoing. Currently, only 72% of owners by value per share have signed the supplemental agreement to lower the reserve price. Learn more>>

Frasers Property’s Sky Eden nearly 75% sold on launch day

Nearly 75% of Sky Eden @ Bedok’s 158 residential units sold at an average price of 2,100 Singapore dollars ($1,496) per square foot on the first day of the property’s launch on Wednesday.

The price for the project in Singapore’s District 16 had previously been estimated by developer Frasers Property at S$1,937 per square foot. Learn more>>

Chip Eng Seng’s Celine Tang Considers Possible Stock Deal

Chip Eng Seng said on Wednesday that Celine Tang, non-executive chairman and non-independent, non-executive director of the promoter, was considering a possible transaction involving shares of the group.

However, there is no certainty that any eventual transaction will materialize at this crossroads, Chip Eng Seng noted in a stock exchange filing. Learn more>>

China’s Zhengzhou to start building blockaded housing projects amid boycott

The Chinese city of Zhengzhou has pledged to start building all stalled housing projects within 30 days by making good use of special loans, asking developers to return embezzled funds and encouraging some real estate companies to file for bankruptcy. , said three sources with knowledge of the matter.

“The goal is to achieve sustained construction on all suspended real estate projects in Zhengzhou by October 6,” said a government notice dated Tuesday. Learn more>>

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