Investment News

A pair of Singaporean groups, Roxy Pacific and Tong Eng. Group, are set to become the latest owners to cash in on Sydney’s office boom as they bring a Clarence Street building to market that could sell for than $160 million.

Chinese investment in Australian commercial property tumbled by 60% to just $2.83 billion last year, according to real estate agency Cushman & Wakefield, and there are warnings it could come under pressure as mainland regulators crack down on insurance companies.

More Asian and institutional cash is expected to flow to the Geelong region as major property investors seek to reap the rewards of strong population growth and higher retail spending. 

Middle Eastern airline Qatar Airways has expanded its international hotel portfolio, buying the landmark Sheraton Melbourne for about $135 million.

Singapore’s Wee Hur Holdings continues its aggressive expansion into the booming student accommodation market with a $700 million plan to develop 3250 beds across Melbourne, Adelaide and Brisbane. 

Singapore-listed infrastructure and civil engineering company OKP Holdings has made its maiden property acquisition in Australia, buying a Perth office tower for $43.5 million.

The value of commercial property transactions reached record levels last year but the volume of sales is unlikely to be repeated in 2018, while yields could be set to move up. 

Ex-bookmaker and Betstar founder Alan Eskander has pocketed a more than 100% windfall on the sale of a South Melbourne office he bought less than five years ago.

Manulife Real Estate, the global real estate arm of Canada’s biggest insurer, Manulife Financial, has bought Myer’s headquarters at Victoria Harbour in the Docklands for close to $300 million.