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Skyscrapers lose lustre for Japanese companies during Covid-19 pandemic

TOKYO (BLOOMBERG) - Japan's decades-long love affair with status-symbol office towers is now fading, as the pandemic upends work styles and puts a strain on company finances. In a country where companies have long taken pride in owning their buildings, advertising agency Dentsu Group and logistics firm Nippon Express are now considering selling their Tokyo headquarters. Avex, an entertainment company, also plans to offload its head office in the Japanese capital. Companies around the world are paring office space as workers stay at home during the pandemic, giving firms an opportunity to save costs and raise cash. In Tokyo, office vacancies have surged to a five-year high and may continue to climb as the government urges people to work remotely to curtail the latest wave of coronavirus cases. "Not many companies in Japan have sold headquarters buildings before, but we may see more of it," said Kakyu Tanaka, a senior researcher at Sumitomo Mitsui Trust Research Institute. Firms that are faced with tough business prospects but have room to reduce office space through remote work may do so, he said. With thousands of its employees working from home, Dentsu is looking to sell its 48-fl...

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China cracks down on fake divorces that let people buy more properties

BEIJING • A surge in real estate prices in Shanghai and Shenzhen has prompted the authorities to rein in speculation, in line with the Chinese government's resolve to keep the property market in check. Shanghai officials unveiled policies late on Thursday to cool the local market, including a measure designed to plug a loophole long exploited by buyers using fake divorces to become eligible to purchase more properties or obtain mortgages. The city will also levy a tax on sales of houses purchased within five years, up from the previous two-year barrier. This is "aimed at resolutely enforcing the decisions of the central committee of the Party" and "firmly upholding the policy stance that houses are for inhabiting, not for speculation", the Shanghai municipal government said in a statement, referring to President Xi Jinping's vow first made in 2017 to boost housing affordability. With the new policy, Shanghai follows big cities including Shenzhen and Hangzhou to crack down on housing speculation via fake divorces since 2018. As most Chinese cities limit home-buying demand by capping the number of properties a family can own, divorce becomes a way to bypass the restriction. In Shangh...

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Greenbriar Capital Corp Appoints Paul M. Morris as CEO of Sage Ranch

Coquitlam, British Columbia, Jan 6, 2021 - (ACN Newswire) - Greenbriar Capital Corp. (TSXV: GRB) (OTC Pink: GEBRF) ("Greenbriar") is pleased to announce that it has appointed Paul M. Morris, as CEO of Sage Ranch and to be the main principal executive officer representing Sage Ranch in the community and beyond including communicating with the City of Tehachapi, collaborating with local vendors, and leading marketing efforts. Stuart Nacht will be the construction advisor to the Greenbriar team.Paul is a significant Keller Williams' Regional Owner and Regional Director for 3 California Regions (Central & Southern California), where he has oversight of 36 offices and more than 7,000 realtors who close more than $18 billion in sales volume per year.In addition, as CEO of Forward Living, Paul has grown his own offices to become Keller Williams' #1 Franchisee outside of Texas with ownership in 9 offices and with more than 3,000 realtors and $7 billion in annual closed volume. Paul and his team have led Keller Williams Realty to the #1 spot for Market Share in Los Angeles.Real Trends 500 ranks Paul's group as the 24th largest real estate brokerage firm by volume in the U.S. and the 202...

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Siamese Asset PCL (SET: SA) Shows High Integrated Real Estate Business Potential

BANGKOK, Dec 28, 2020 - (ACN Newswire) - Siamese Asset PCL (SET: SA) is moving ahead to expand investment following its listing on the Stock Exchange of Thailand (SET), in a bid to become a leading integrated real estate developer in Thailand, fulfilling customer demand for residences and for long-term investment, and promoting continuous growth, despite the national economy in a slowdown mode. The current 9,446 million baht worth of backlog is being realized from 4Q2020 onward.Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset PCL, listed as an "Asset of Life" when the Company had its debut on the Stock Exchange of Thailand on December 25, under the SET designation "SA" in the Real Estate Development Category. This was the last Thai stock to be listed on the SET in 2020. The Company's high and leveraged superior strength compared to competitors will help to ensure interest in SA shares among investors.The Company aspires to become the real estate developer that can satisfy the demand of customers in every target segment with the best locations and at prices that are affordable to all Thai consumers. Through its vast experience as being construction contractor for a...

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Company brief: Ying Li International Real Estate

Ying Li International Real Estate Chinese property developer Ying Li International Real Estate said its group chief executive and executive director Hu Bing was detained by the authorities in Beijing on Dec 4 "due to his involvement in suspected bribery". Mr Hu will cease as group CEO, executive director and a nominating committee member with immediate effect, the mainboard-listed firm said in a Singapore Exchange filing yesterday morning. During the interim period, the group CEO's duties will be temporarily undertaken by Dr Yang Haishan, a non-executive and non-independent director. Wirecard The Singapore authorities added three further fraud charges against the director of a local accounting firm in a case linked to disgraced German payments company Wirecard. R. Shanmugaratnam, a director of Citadelle Corporate Services, was charged with three counts of falsifying letters from Citadelle erroneously representing that the Singapore accounting firm held certain amounts of cash in escrow accounts. BLOOMBERG Japfa Agri-food company Japfa will sell 80 per cent of its South-east Asia-branded dairy business to affiliates of investment firms TPG and Northstar Group for US$236 million (S$3...

99 Group acquires real estate portal SRX

99 Group, which operates property portal 99.co, has acquired property platform and real estate data provider Singapore Real Estate Exchange (SRX) for an undisclosed sum. As part of the acquisition, 99 Group will acquire all the shares in StreetSine Singapore, a subsidiary of Singapore Press Holdings. 99 Group said yesterday that it will retain all SRX employees and integrate the team in the coming weeks. It expects the transaction to be completed by the second quarter of next year. The move will bring SRX under the same umbrella as other Singapore property platforms 99.co and iProperty.com.sg. 99 Group said this will create a widened pool of listings, information and data tools, enabling it to offer consumers and real estate professionals in Singapore better value and more competitive packages. 99 Group chief executive Darius Cheung noted that the industry needs to digitalise to meet evolving consumer needs. "Reliable property data is especially important as property hunting continues to shift online even though physical viewings are now allowed again, suggesting a lasting change in consumer behaviour," he said. SRX chief executive Jason Barakat-Brown said: "Our businesses and team...

RACE (Real Assets Community Economy) Announces a Digital Assets and Real Estate Platform

To Develop a Decentralized Protocol to Facilitate Secure Cross-Border Investments for Investors, Asset Owners and Property Developers in a Post-COVID-19 World - RACE™ (Real Assets Community Economy), a digital real estate ecosystem to facilitate asset and real estate capital transactions for Owners and Developers. - RACE™ plans to provide investors' access to institutional-grade assets while adhering to local and international regulations, and global security standards. - RACE™ expects to facilitate timely rescue capital and private debt to Asset Owners, Developers, and Businesses. London, U.K - November 5, 2020 - With The United States hitting an all-time high of 99,321 new coronavirus cases on Oct. 30, surpassing the previous high-water mark, and cases rising rapidly again in parts of Europe, it seems to be a foregone conclusion that technology will continue to play an accelerating and almost irreversible adoption in all aspects of domestic and cross-border transactions. Additionally, prolonged socioeconomic disturbances have undoubtedly affected some sectors within the global real estate market quite negatively. As an example, barring certain niche hotels, the overall hotel sect...

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Dusit International to manage its first Dusit Thani hotel in Kyoto, Japan

BANGKOK, Nov 2, 2020 - (ACN Newswire) - Dusit International, one of Thailand's leading hotel and property development companies, has signed a hotel management agreement with Yasuda Real Estate Co., Ltd., a community-focused property developer based in Tokyo, to operate the luxury Dusit Thani Kyoto - its first Dusit-branded hotel in Japan.Dusit Thani Kyoto is designed to blend seamlessly with its traditional surrounds in the heart of the citySigned through D&J Co., Ltd., a subsidiary of Dusit International based in Tokyo, the historic deal reflects Dusit's commitment to sustainable expansion by bringing long-term value to its local communities through creating jobs, contributing to the economy, and encouraging responsible tourism.Located in the heart of the city, only 850 metres from Kyoto Station in the Honganji Monzen-machi district, the new property will comprise approximately 150 rooms set over four floors. Facilities will include a Thai-themed all-day dining restaurant, a Japanese specialty restaurant, a lobby lounge and bar, function rooms, a health club equipped for fitness, and wellness facilities. Guests will enjoy easy access to nearby attractions such as Higashi Honga...