Alibaba exploring their expansion in Singapore
Section 51 of the first day of work after Alibaba to approximately NZ 1,680,000,000 (equivalent to 8,400,000,000 Chinese yuan) bought for the price of a Singapore office 50 per cent stake.
Alibaba, which is also in overseas markets so far on the huge amount of real estate transactions.
According to the new announcement, Rayleigh By Peng landmark group to a consortium led by Alibaba to sell Singapore Singapore subsidiary of AXA insurance building (AXA Tower) 50 per cent stake, the deal is expected to be finalised around June this year. The sale of shares at the same time, the consortium will also put the outstanding 50 per cent of the shareholder loan transferred to Singapore subsidiary of Alibaba, but did not disclose loans.
AXA insurance building (Source: The constant media group) was Alibaba wanted exactly what kind of a condo building?
Riley on Pan, according to real estate website Axa Insurance Group building is located in Singapore’s central business district, is a city of about 50, including commercial skirt floor layer of Grade A office building landmark projects with a total gross floor area of approximately 1,029,000 square feet (off contract 95600 square metres).
Building work is being carried out by AXA Insurance industry capital works, including the strengthening of renovation projects, commercial operations for a city of about 32,000 square feet of two storeys high, as well as building a medical suite office lobby renovation skirt and drop-off point. Renovations are expected to be completed in 2021.
AXA insurance building, according to the official website of the main tenant including Axa Insurance, BOC Aviation, Red Software, Lazada, etc.
According to Bloomberg, the current Alibaba is the building’s main tenant. and Lazada is a home owned by Ali Southeast Asian e-commerce platform to Lazada, Alibaba invested up to $4,000,000,000.
This is a great news as Singapore being seen as a great potential in terms of real estate as a form of potential asset, many investors are moving their assets into Singapore, grabbing residential development such as The Florence Residences by Logan Property at Hougang. Investors are also looking in to commercial property as they are expending their businesses in Singapore.