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Following the results of the auction, the American investment company Blackstone will conclude an agreement with Singapore GLP on the acquisition of a network of industrial warehouses in the United States for $18.7 billion, which includes GLP debt. This was reported to The Wall Street Journal by sources familiar with the situation. Thanks to a deal covering 1,300 pieces of real estate with an area of 180 square feet, Blackstone can become one of the largest owners of logistics facilities in the country. Due to this acquisition, its area will grow by more than a third to 750 million square feet. At the moment, its assets in the field of real estate amount to about 140 billion dollars. Demand for industrial warehouses has recently increased significantly against the backdrop of increased activity of Amazon.com, which is the largest tenant of GLP. Real estate in major cities is of particular value for tenants, because they allow for the delivery of goods the next day.
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
June had seen Singapore’s non-oil domestic products advancing 16.1% from a year earlier. The reading managed to place above estimates backed by strong activity in shipments of pharmaceuticals, specialized machinery, and electronics, ...
Singapore’s economy recorded its sharpest contraction in the second quarter. This placed the trade-dependent city-state into recession as it is also expected to suffer from its worst inactivity this year on virus-beaten businesses. The ...
Singapore said on Monday it is ready to release its developed blockchain-based payments network that would pave the way for faster and cheaper international settlements. The Monetary Authority of Singapore joined forces with state investor ...
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