Frasers Hospitality
Frasers Hospitality is investing $250 million in a project to develop a new serviced residence in Tokyo's Ginza district.
The property will be launched under the group's millennial-focused hotel residence brand Capri by Fraser.
Sitting on prime freehold land, Capri by Fraser, Ginza/Japan will have nearly 200 rooms. It will complement Fraser Suites Akasaka, which will offer studio and one-bedroom apartments at a central downtown location in Tokyo.
Both properties are scheduled to open in 2020.
ESR-Reit
ESR-Reit said its trustee, RBC Investor Services Trust, has agreed to sell a warehouse in Bukit Batok to MSS Bukit Batok for $23.9 million.
The transaction, which is subject to approval by JTC Corp, is expected to take place in the first half of the year.
Proceeds from the sale, ESR-Reit said, will be used for debt repayment, potential acquisition opportunities, asset enhancement initiatives and general working capital.
The property is a five-storey industrial building, with ancillary office and basement carpark. It is sited on a triangular piece of land, which has an area of about 67,360 sq ft. It has a gross floor area of about 157,860 sq ft, with a remaining tenure of about 35 years.
ESR-Reit, in a statement, said that due to its small land area, there is "limited redevelopment potential" for the site to increase the gross floor area from its current plot ratio of 2.3 to the maximum of 2.5.
CWG International
Elidom Investment, jointly owned by Sinway Investment, H&H Wealth and Floriland Co, said it has amassed a 90.19 per cent stake in international real estate group CWG International, and is taking steps to delist the firm from the Singapore Exchange.
Elidom will dispatch a letter to compulsorily acquire the remaining shares from non-assenting shareholders.
Elidom Investment had made a cash offer for CWG International at 19.5 cents apiece.