Vulture funds set their sights on Asia's property market

Article Abstract:

New York-based Greenwich Group International LLC is financing Hong Kong real estate developers through vulture funds from US investors. Investors are now purchasing properties in Hong Kong through partnerships forged by Greenwich Group. The firm has already generated $200 mil from the New York investment bank Blackstone Group and Hong Kong real estate company Hsin Chong Construction Group for the Orient Realty Inc. Greenwich Group has several other transactions with various US investors to finance vulture property funds throughout the Asian region.

Management, Real estate investment, Real estate investments, Greenwich Group International

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Residential vacancies shrink; prices rise above peak levels from '94

Article Abstract:

Hong Kong's residential vacancy declined to 3.7% compared to 4.1% in 1995. 56,000 apartment units will be available in addition to the 34,050 vacant apartment buildings in 1997. While 19,870 new apartments have already been completed, there will be 22,000 more to be completed for the rest of 1997 and 33,000 are expected to reach completion by 1998. New offices declined to 269,000 square meters which is down by 24 % compared to 1995 figures while its vacancy figures increased to 11%. Inflation rate for 1997 is predicted to be at 7%.

Apartment Management, Real Estate Property Managers, Statistics, Contracts, Apartments

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Asia's real-estate markets show some signs of recovery

Article Abstract:

Real-estate prices and rents for the majority of Asian cities remained stable during the second quarter of 1997, reports Jones Lang Wootton Ltd. However, the currency turmoil experienced by a number of Asian economies, as well as a perceived oversupply in office real-estate are feeding the market's anxiety. The median price of rents in Thailand declined by 3.9% during the first quarter of 1997, while those in Indonesia, Malaysia and the Philippines remained stable.

Prices and rates, Thailand, Indonesia, Malaysia, Rents (Property)

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