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Impact of low interest rates on Asia-Pacific commercial property prices likely to be limited, says UBS

The pause in US Federal Reserve interest rate increases is unlikely to boost commercial property prices in Asia-Pacific, according to a new report from UBS.Citing historically low rental yields, driven in part by high pricing, the report noted that in Asia-Pacific cities outside Australia, the “marginal benefit from an extended period of low interest rates is very limited”.“Yields across most APAC markets are at their lowest in the last 10 years. Obviously, that does not mean prime yields… Source link

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China 

US hotel giant Marriott’s goal of 1,000 properties by 2020 in Asia-Pacific to be led by China and India

Marriott International is ramping up its presence in Asia-Pacific as it targets 1,000 properties in the region by 2020, with the US hotel operator identifying China, India and Southeast Asia as its growth drivers.This year alone the company expects to add about 100 new hotels or close to 20,000 rooms in the region.Marriott said it well positioned to capitalise on global travel trends in China, India, and Indonesia, three of the world’s four most populated nations.“As the world’s leading… Source link

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Singapore 

Uber launches Asia-Pacific hub in Singapore, no plans to restart in South-east Asia, Singapore News

SINGAPORE – Just a little over a year after it announced its exit from Singapore and the South-east Asian market, Uber now says it is in the Republic to stay. The American ride-hailing giant officially launched its Asia-Pacific hub here on Tuesday (April 2), occupying about 2,000 sq m at Fraser’s Tower on Cecil Street, overlooking the Central Business District. The new office, which is headed by Uber’s international chief business officer Brooks Entwistle, oversees the firm’s operations in nine countries across the region, including Australia, Bangladesh and Japan. While…

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US investors remain top buyers of Asia-Pacific commercial property

Investors from the United States continued to be the biggest spenders on commercial property in Asia-Pacific in the first quarter of 2019, according to New York-based data provider Real Capital Analytics, having surpassed their Asian counterparts in 2018. According to the company, as of Monday, US investment in the region’s property markets this year amounted to US$3.2 billion. Hong Kong was second with US$3.1 billion, followed by Singapore at US$636 million, Australia at US$528 million and… Source link

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Under Armour to use Hong Kong as its launching pad for Asia-Pacific growth and competition with bigger sportswear rivals

New York-listed sportswear brand Under Armour is scaling up in Asia as it competes with global industry giants. But it will do so, on its own terms.The company, which will open a regional headquarters in Hong Kong later this year, will not change its products to fit in with the global “athleisure” trend, senior management said in an interview.President and chief operating officer Patrik Frisk admitted Under Armour was much smaller than the likes of Nike and Adidas, but said the company would… Source link

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World Bank arm IFC sees US$20 trillion worth of green investment opportunities in India, Asia-Pacific

International Finance Corporation (IFC), a private equity and venture capital arm of the World Bank Group, is set on climate related investments, with US$20 trillion worth of opportunities in Asia-Pacific and India by 2030. According to the IFC, 60 per cent of the area expected to be urban worldwide by 2030 is yet to be built, as emerging countries develop and migration to cities heightens. This will provide opportunities for US$29.4 trillion of climate-related investments in sectors from renewable energy to electric vehicles, of which nearly 70 per cent will…

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Lufax’s international unit eyes Asia-Pacific expansion, 10,000 customers in a year

Lu International, the Singapore unit viewed as crucial to the global ambitions of Chinese online wealth management giant Lufax, aims to expand in Asia-Pacific and grow to 10,000 customers in about a year, with private equity and exchange-traded funds to be added to its product offering soon, according to its chief executive. The company was set up in Singapore in 2017 as Lufax’s first international arm. Lufax said back then it marked the first time a Chinese financial technology company had set up its international head office in Singapore under…

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Investment 

Samsonite shrugs off short seller attack as it plans to add more stores in Asia-Pacific

Two months since the surprise short seller attack on Samsonite, which wiped out more than US$1 billion from its market value at the end of May, the company says that the incident has had no major impact on its operations and that it was still looking to expand. The Hong Kong-listed shares of the world’s largest luggage maker by volume lost more than 22 per cent of its value at the end of May after Blue Orca questioned its accounting practices. “The [short seller] attack hasn’t impacted our business at…

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