Foreign Property News | Posted by Aye Myat Thu
Located about 50 miles north of Hong Kong in Dongguan, China, the New South China Mall is the largest abandoned mall in the world by gross leasable area. Twice the size of United States’ Mall of America, it was opened with room for 2,350 stores in 7.1 million square feet of leasable space. No mall in the world can rival New South China in any category, except perhaps number of tenants. Despite having every amenity a shopper could want, the mall has been 99% vacant since it’s opening in 2005. (Artist Rendering Concept for New South China Mall) Design Plans to build the New South China Mall were spearheaded by food billionaire Alex Hu Guirong. It was to be built in...
Local Property News | Posted by Shwe Zin Win
[Unicode] ဒဂုံဆိပ်ကမ်းမြို့နယ်ရှိ မြေ၁၇ ဧက တွင် ဂျပန် AEON ၏ ပထမဦးဆုံးဈေးဝယ်စင်တာ AEON Mall ကို ၂၀၂၃ ၌ စတင်ဖွင့်လှစ်သွားမည်ဟု ဩဂုတ် ၄ ရက်တွင် ထုတ်ပြန်ကြေငြာသည်။ AEON ကုမ္ပဏီကြီးက ဒေါ်လာသန်း ၁၈၀ ကုန်ကျမည့် ရှော့ပင်းမောကြီးကို ပြည်တွင်းရှိ ရွှေတောင်ဆောက်လုပ်ရေး...
Foreign Property News | Posted by Si Thu Aung
Retail News Asia revealed that during the first quarter of the year, retailers have experienced a substantial decline in sales of around 50 to 80 percent, prompting tenants to request for rent relief from their landlords. Data published by global property firm Savills indicated that several shopping centre landlords have already provided 30 to 60 percent temporary financial assistance for tenants affected by the various crisis throughout the year, including the political protests and now the public health crisis. Nevertheless, there are still some mall landlords who are hesitant to offer rental assistance even though the number of tenant vacancies are rising. The retail rents in...
Local Property News | Posted by Zarni Kyaw
### Unicode Version ### ဂျပန်ကုမ္ပဏီ AEON က ၂၀၂၃ အစောပိုင်းတွင် မြန်မာ နိုင်ငံ၌ဈေးဝယ်စင်တာများ ဖွင့်လှစ်မည်ဖြစ်ပြီး လူလတ်တန်းလွှာကို ဦးတည်ရောင်းချမည်ဟု ဂျပန် Nikkei Asia View တွင် ဖော်ပြထားသည်။ ဂျပန်နိုင်ငံ၏ အကြီးစား လက်လီရောင်းချသည့် AEON ကုမ္ပဏီက ပြည်တွင်းရွှေတောင်...
Local Property News | Posted by Zarni Kyaw
The construction of the upper four floors of the high-class new Mingalar Market has been completed and it is planned to open it April, 2021, according to the state-run newspaper. The new market project is a new 15-storey building which will include two floors of basement and the ground floor will contain banks, restaurants, and a high-class supermarket, according to reports. The upper five floors of the new market is still under construction and the two-storey basement will be completed by the end of March. By the end of November, the construction of the entire floor of the building will be completed. Written by iMyanmarHouse.com Team Credit: iMyanmarHouse.com
Local Property News | Posted by Si Thu Aung
### Unicode Version ### စင်ကာပူဘဏ်နှစ်ခု ဖြစ်သည့် OCBC နှင့် UOB ဘဏ် မြန်မာရုံးခွဲများက ရွှေတောင်ကုမ္ပဏီကို အစိမ်းရောင်ချေးငွေဒေါ်လာ ၄၄ သန်းပေးခဲ့ကြောင်း သတင်းထုတ်ပြန်သည်။ ထိုချေးငွေသည် ၂၀၁၇ တွင် ဖွင့်လှစ်သည့် Junction City ဈေးဝယ်စင်တာကို သဘာဝပတ်ဝန်းကျင်...
Foreign Property News | Posted by Shwe Zin Win
Privately owned international schools looking for space to expand into Hong Kong are being forced to open campuses in places like converted shopping malls because of a lack of land, according to property agents. John Mortensen, senior director for education services, Greater China, at JLL, said school providers and investors in education still want to come to Hong Kong despite the political crisis that has rocked the city and damaged its reputation. There is strong demand from local families able and willing to pay for their children to enjoy a high-quality education from a respected overseas school. “But the problem is availability of spaces,” he said. There are at least 11...
Foreign Property News | Posted by Hnin Ei Khin
The Thailand and Malaysian operations of Britain’s largest supermarket chain Tesco Plc are on the shopping lists of two of the country’s biggest conglomerates. The Charoen Pokphand Group and Central Group are among the companies that are weighing bids for the Southeast Asian business that could fetch more than US$7 billion, according to people with knowledge of the matter. CP Group and Central Group are holding discussions with financial advisers preparing for separate bids, said the sources, who asked not to be identified as the information is private. TCC Group, controlled by billionaire Charoen Sirivadhanabhakdi, has also expressed interest, they said. Tesco said...
Foreign Property News | Posted by Zarni Kyaw
Dongguan, China can boast the world’s largest mall when measured by total leasable area. It is three times the size of The Mall of America, the largest mall in the United States. However, South China Mall was designated a “ghost mall” even the ten years it was open since it had so little custom. The first owner and initiator of the project was the millionaire Hu Guirong, known for the wealth he’d accrued through the instant noodle industry. Dongguan was his hometown, and he wanted to make it more memorable in some way, so he decided to build an immense shopping center. In 2005, the South China Mall hosted its official opening. The total area available to rent...
Foreign Property News | Posted by Si Thu Aung
CapitaLand has announced that it is selling a shopping mall for S$296 million ($217 million) to a Singapore megachurch that generated S$143 million in income last year and is led by one of the world’s richest pastors. The Singapore-listed developer said that it had agreed to sell the seven-year-old Star Vista mall, which forms the base of the 15-storey New Creation Church’s place of worship and performing arts centre, to the church’s business entity Rock Productions. The church, which already owns the rest of complex, said it had acquired the mall to protect the interests of the congregation, after hearing that CapitaLand had been in talks with other prospective buyers,...