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Spending more than $ 1.5 billion, CapitaLand is Asia’s largest M & A deal

Asia Square Tower 2 - CapitaLand's $ 1.53 billion office tower

The CapitaLand Commercial Trust paid SGD 2.09 billion (US $ 1.53 billion) to acquire Asia Square Tower 2 from BlackRock Asia III Real Estate Investment Fund. This is the largest transaction office property in Asia up to the present time.

According to Jones Lang LaSalle (JLL), Jones Lang LaSalle Real Estate Services (JLL), besides CapitaLand, the Asian market also recorded another major deal, GIC – Singapore National Investment Fund – has spent 1.9 billion Singapore dollars ($1.39 billion) to buy shares of Indian developer DLF Cyber ​​City. This is the largest cross-border real estate transaction in the third quarter.

Asia Square Tower 2 - CapitaLand's $ 1.53 billion office tower
Asia Square Tower 2 – CapitaLand’s $ 1.53 billion office tower

According to Myles Huang, Director of JLL’s Asia Pacific Markets Capital Markets Research, these are “extremely important transactions”, which have helped increase the trading volume in Asia Pacific $ 96 billion by the end of the third quarter and up 11% over the same period last year.

Myles Huang also assessed other strong performance from key markets across the Asia Pacific that boosted regional trading volumes.

Indonesia, for example, received $ 2.8 billion from international investors in 2016 and is optimistic about 2017.

“In addition to the ongoing buildup of Chinese-built office floors, Singapore investors have not forgotten the place.” GIC has announced a second joint venture with Intiland. from Indonesia in order to develop the Fifty-Seven Promenade project in August after the first co-operation in April with the South Quarter office complex.

“CapitaLand has also increased its business in Indonesia through an investment of SGD 74.3 million in serviced apartments Ascott Sudirman Jakarta,” said JLL.

According to Myles Huang, cross-border transactions accounted for 30% of total volume in the third quarter. “In fact, the demand for cross-border continues to outstrip supply, especially in Australia, at almost 2: 1.”

In addition, investors are still hunting for package deals, typically in the third quarter, Invesco Real Estate Group spent $ 300 million to acquire all of ESR’s key assets in China. . In the future, the logistics market will continue to attract the attention of investors in both mature markets and emerging markets.

“These are assets that will provide a great opportunity for large-scale real estate investors to benefit from growth in manufacturing and e-commerce,” Myles Huang said.

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