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First Sponsor in JV to develop mixed-used site in Guangdong

The Business Times

MAINBOARD-LISTED First Sponsor Group has entered into a joint venture agreement with Poly Bay Area Investment Development Co (Poly Bay Area) and Shoucheng Dongguan Real Estate Co (SDRE) to develop three plots of land in Guangdong, China, that was acquired for some three billion yuan (S$592 million), the Hong Leong-linked property developer announced on Monday morning.

ESR-Reit to buy warehouse, enhance 2 assets and raise funds

The Business Times

ESR-REIT opened the new week by unveiling a slew of initiatives: It will acquire a warehouse for S$225 million under a newly formed joint venture (JV) and undertake asset enhancement initiatives (AEIs) at two of its existing assets; it will also raise up to S$150 million in an equity fundraising to finance these transactions and to service existing debt.