Warburg Pincus into Indonesia
US private equity giant Warburg Pincus has committed $125m (£81.4m) to a new retail joint venture with Indonesian developer Nirvana Development. The jv will focus on developing hypermarket-anchored malls in second- and third-tier Indonesian cities.
UAE resi holds up for Aldar
Abu Dhabi’s biggest developer Aldar this week said leasing in the tallest residential tower in Abu Dhabi had reached 90%, three months after launching. The group said demand for prime residential property remained strong. The 382m Burj Mohammed bin Rashid comprises 474 flats over 92 floors. Aldar plans to build 7,300 homes in the city over the next five years.
Cordea opens in Copenhagen
Cordea Savills is to open an office in Copenhagen after transacting €560m (£415.7m) in the Nordic region in 2014. Of the 18 Nordic properties Cordea bought in 2014, 11 were Copenhagen retail assets. It follows the launch in December of Cordea’s Nordic Logistics Fund, which comprises 10 sheds valued at a total of €300m.
Goodman agrees EPF jv
Australian sheds giant Goodman Group has formed a joint venture with the Malaysian Employees Provident Fund to develop logistics properties across South East Asia with an end value of RM1.4bn (£255m). The deal marks Goodman’s return to South East Asia after a near seven-year hiatus.
Facebook expands in Seattle
Facebook has signed a lease for a new 275,000 sq ft office at Capstone Partners’ Dexter Station development in Seattle. The company already leases 100,000 sq ft in the city and is among a wave of tech occupiers expanding in the area, which has a deep talent pool and lower rents than San Francisco.
