axa tower alibaba
Write to P.R. AXA Tower is home to Lazada, Alibaba’s Southeast Asia e-commerce platform, which takes up over 15 per cent of the space, South China Morning Post reported. Colliers Research projected that Singapore investment sales volumes will grow on average by 5% per annum in longer-term, over 2019-2024 despite a 24% forecasted drop year-on-year (YOY) in 2020 as Singapore’s strong policy response to the coronavirus (COVID-19) pandemic is reinforcing its safe haven status.Jerome Wright, Senior Director of Capital Markets at Colliers International, said, “The global disruption to economic activity caused by COVID-19 will mean challenging times in the short-term.
Corrections & Amplifications. The stake in AXA Tower is being viewed as solidifying Alibaba’s commitment to the city state. Venkat at venkat.pr@wsj.com . Perennial to redevelop AXA Tower with help from Alibaba Singapore May 7, 2020 Craig Gambol Zephyr Perennial Real Estate Holdings has formed a new consortium for the transfer of shares in, and the redevelopment of, AXA Tower for SGD 1.68 billion (USD 1.18 billion). This question is for testing whether or not you are a human visitor and to prevent automated spam submissions. should it integrate hotel and residential usage under the CBD incentive scheme.The transaction comes after Perennial Real Estate Holdings and a consortium of investors, including Singapore Press Holdings, Subscribe to our free newsletter for the latest in Asia Pacific real estate and REIT news and intelligence.Stay up to date with our daily newsletter for the latest Asia Pacific REIT news and intelligence.APAC Real Estate tracks real estate investment trusts (REITs) listed in markets throughout Asia Pacific. E-commerce giant Alibaba recently agreed to acquire a 50 percent stake in Singapore’s AXA Tower, a sign that technology and e-commerce companies are well-positioned to weather the COVID-19 pandemic. dollar slides, on pace for worst weekly stretch in a decadeSingapore regulator warns of more bank job losses in second halfCOVID-19 Impacts: Global K-12 Instruction Material Market Will Accelerate at a CAGR of Almost 7% Through 2020-2024 | Increasing Demand for Adaptive Learning to Boost Growth | Technavio$2.6 Million in Legal Cannabis Product to Be Destroyed, Temescal Wellness Destroys All Quarantined Vape CartridgesExclusive: China ramps up U.S. oil purchases ahead of trade deal review - sourcesShareholder Alert: Robbins LLP Announces It Is Investigating Vaxart, Inc. (VXRT) for Misleading ShareholdersEU agrees first COVID-19 vaccine deal with AstraZeneca in WHO blowGlobal Irrigation Automation Market Insights and Forecast 2020-2027 - ResearchAndMarkets.comSome four in 10 AmCham members considering leaving Hong Kong over national security law fears, survey finds The Axa Tower is already houses a number of Alibaba employees and is the headquarters of its Lazada subsidiary, one of the region’s leading online retailers. JLL says purchase of AXA Tower, Singapore shows that investor appetite for CBD assets remains strong. "Singapore is an important market for Alibaba Group," a spokesman said.
You must have JavaScript enabled to use this form. AXA Tower currently has an existing gross floor area (GFA) of approximately 1.05 million square feet. “As a result of increased demand for their services and strong capital positions, tech and ecommerce giants have remained active in their expansion and investment plans, with global … The information provided on this site is general in nature, not financial product advice, so you should see a financial expert before making any investment decision. Alibaba is acquiring a half stake in Singapore’s AXA Tower Alibaba has agreed to acquire a 50 percent stake in Singapore’s AXA Tower in a deal that values the landmark office property at S$1.68 billion ($1.2 billion) in one of the few major transactions the city has seen this year. JLL on May 6 announced that it acted as the real estate advisor to Alibaba Singapore, part of Alibaba Group Holding Limited, in its 50% share purchase agreement (SPA) of AXA Tower from Perennial Real Estate Holdings Limited (“Perennial”) through Perennial Shenton Investors Pte. If you continue to use this site we will assume that you are happy with it. Cross Street Exchange (formerly known as China Square Central) and Alexandra Technopark, which respectively transacted at S$648m and S$606m, were transactions between Frasers Commercial Trust and Frasers Logistics & Industrial Trust.Bucking the trend, however, the GLS programme awarded five residential sites in Q1 2020, up from only one award in Q4 2019, and collectively accounted for some S$1.4bn.U.S. "This investment will help fulfil our projected business needs across the Alibaba digital economy, as … AXA Tower has secured an approved uplift in its gross plot ratio, based on the Urban Redevelopment Authority's Master Plan 2019.
When completed in 1986, it was the tallest skyscraper in Singapore. Our coverage includes major share price movements, capital raisings, M&A, debt, property acquisitions, and more.APAC Real Estate accepts no responsibility for any claim, loss or damage as a result of information provided or its accuracy. The 50-storey office development with a retail podium is located in Singapore's central business district (CBD). This transaction will provide a confidence boost to the Singapore market and reaffirm investor appetite for CBD assets,” said Ting Lim, Executive Director, Head of Capital Markets, Singapore, JLL.AXA Tower, located at 8 Shenton Way, is a grade-A office development in Singapore’s central business district with 50 stories and an attached podium of retail space. Upon completion of the deal, PRE 13 will enter into a joint-venture agreement with Alibaba Singapore to redevelop AXA Tower.
The Perennial-led consortium had purchased AXA Tower in 2015 for $1.17 billion, or $1,735 psf of net lettable area (NLA). 中国のEC最大手アリババグループが、同社シンガポール法人の入居する中心部タンジョン・パガーの50階建て高級オフィスビル「AXAタワー」の権益50％を取得することがわかった。
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