Mingtiandi - Paragon, RealVantage reach first close for $50M fund and more asia real estate headlines

SINGAPORE, Jun. 19 2024 / Mingtiandi /- Singapore-based firms Paragon Capital Management and RealVantage lead Mingtiandi’s headline roundup today as they form a consortium for a new real estate private equity fund. Hong Kong and Singapore also make the news as the world’s most expensive cities for expats and Vietnam’s Nam Long Group sells a 25 percent project stake to a Japanese partner.

Paragon, RealVantage Reach First Close for $50M Real Estate Fund

Paragon Capital Management, a Singapore-based asset management firm, and RealVantage, a real estate fractional investment platform, have formed a consortium for a new property-focused private equity fund.

The fund, named the Global Real Estate Alternative and Tactical Fund (GREAT), has a target fund size of $50 million. It completed its first close on 31 May with a 75 percent subscription volume within a month of its launch. Read more>>

Hong Kong, Singapore Lead as World’s Costliest Cities for Expats

Regional finance rivals Hong Kong and Singapore have retained their unwanted crowns as the world’s most expensive cities for expatriates, an annual survey shows.

The Mercer ranking comes on the heels of news that Hong Kong is also the world’s most “impossibly unaffordable” city in 2024 for housing. Read more>>

Vietnam’s Nam Long Sells 25% Project Stake to Japanese Partner for $26M

Vietnam real estate major Nam Long Group has sold a 25 percent stake in its 45 hectare (111.1 acre) Nam Long Dai Phuoc project to Japanese partner Nishi Nippon Railroad for VND 662 billion ($26 million).

In a Monday statement, the group said it can earn a post-tax profit of VND 200 billion in the second quarter of this year from the transaction. Read more>>

WeWork Approved to Exit India Venture

The Competition Commission of India has cleared co-working space giant WeWork to sell its entire 27 percent ownership in its Indian unit.

The sale is a two-step process wherein WeWork and WeWork India’s parent, Embassy Group, would jointly sell a roughly 40 percent share in the local co-working subsidiary. A detailed order from the antitrust regulator is expected later. WeWork would withdraw from the Indian market as a result of the agreement. Read more>>

Hong Kong Topples Tokyo as Asia’s Costliest City for Construction

Hong Kong surpassed Tokyo as the most expensive city to build anything in Asia, as a post-pandemic labour shortage exacerbated the scarcity of skilled workers in an ageing society, inflating construction costs.

The city’s average building cost this year is projected to rise by 4.8 percent to $4,500 per square metre, according to a survey by UK-based consultancy Turner & Townsend. Read more>>

China Property Bulls Keep Faith in the Market

The few investment houses that are bullish on China’s property sector are holding on to their optimistic bets in defiance of a faltering stock market and a dominant view that Beijing’s latest support package was not enough.

The positive calls, including from Citi and Bank of America, were made in the lead-up to easing measures announced Monday, based on expectations that the package would offer more than the piecemeal steps taken in the past two years. Read more>>

Singapore’s Sabana REIT Prices Sustainability-Linked Bonds

Sabana Industrial REIT has priced S$100 million ($74 million) in sustainability-linked bonds due in 2029, the trust’s manager said Tuesday in a bourse filing.

The bonds will be issued in the denomination of S$250,000 and will bear a coupon rate of 4.15 percent. If the REIT fails to meet its sustainability performance target, there will be a coupon step-up for the bonds. Read more>>

China Property Policies Boost Big Cities, Secondary Locations Lag

China’s latest property support measures have boosted transactions in its biggest cities, but activity in smaller localities is struggling to get off the ground, pointing to more pain ahead for most of the country’s real estate market.

On Monday, China cut minimum mortgage rates and down payments and instructed municipalities to buy unsold apartments to turn them into social housing, sparking dozens of announcements from cities easing policies under the new guidelines. Read more>>

About RealVantage

RealVantage is a leading real estate co-investment platform, licensed and regulated by the Monetary Authority of Singapore (MAS), that allows our investors to diversify across markets, overseas properties, sectors and investment strategies.

The team at RealVantage are highly qualified professionals who brings about a multi-disciplinary vision and approach in their respective fields towards business development, management, and client satisfaction. The team is led by distinguished Board of Advisors and advisory committee who provide cross-functional and multi-disciplinary expertise to the RealVantage team ranging from real estate, corporate finance, technology, venture capital, and startups growth. The team's philosophy, core values, and technological edge help clients build a diversified and high-performing real estate investment portfolio.

Get in touch with RealVantage today to see how they can help you in your real estate investment journey.

Disclaimer: The information and/or documents contained in this article does not constitute financial advice and is meant for educational purposes. Please consult your financial advisor, accountant, and/or attorney before proceeding with any financial/real estate investments.