Singapore’s office rents are set to rise as much as 15 percent this year on increased demand and a dearth of new developments, said Lynette Leong, chief executive officer of CapitaCommercial Trust Management Ltd.
Dubai tapped capital markets for the first time in more than a year with the sale of $750 million of 15-year Islamic bonds as the emirate seeks to pay debt and finance its budget amid a property-market recovery.
Malaysian companies converting London’s Battersea Power Station into a luxury apartment complex with sale prices as high as $50 million are part of a record syndicated-loan rush by borrowers from the Asian nation.
Asian stocks fell, with the regional gauge heading for its first drop in four days, led by health-care stocks and information technology shares. Several markets across the region are shut today for a holiday.
Iron ore prices are set to slump in the second half as more steel companies in China will probably go bankrupt, hurting demand in the world’s largest user just as supply expands, according to Standard Chartered Plc.
Nguyen Duc Kien, a founder of Asia Commercial Bank, pleaded not guilty to fraudulently taking assets, tax evasion and other crimes that partly caused losses the Vietnamese lender estimates at 8.67 trillion dong ($411 million).