Tuesday, October 13
A Tokyo penthouse developed by Swedish buyout firm EQT AB has sold for about ¥9.5 billion ($67 million), shedding light on the cost of buying into the city’s booming high-end property market.The four-bedroom apartment at Marq Omotesando One, a luxury low-rise development near the bustling shopping district of Harajuku, went for more than ¥50 million per tsubo, the highest on record in Japan by that measure, EQT said in a statement. A tsubo is a Japanese unit of measurement that equates to 3.3 square meters, amounting to a sale price of about ¥9.5 billion for the 625-plus square-meter property, according to Bloomberg calculations. The Marq One penthouse stretches across the entire fourth floor of the property, with a spa room, three terraces and a private rooftop and pool. The condo is
Abhishek Gaoshinde, Deputy Vice President Research, Mirae Asset Sharekhan, says for Aegis Vopak IPO, he will give a 3.5 out of 10. For Schloss, it will be 4 because of its presence in this luxury hotel segment and for Scoda and Prostarm, he will give 2.5 because of their working capital intensive business model. What are the concerns for Aegis Vopak Terminals IPO?Abhishek Gaoshinde: Prima facie, this company caters to the oil and gas segment. Largely it is a third party owner and operator of tank storage terminals. So, almost its business is spread across the five major ports with 18 storage terminals. Aegis Vopak is largely a joint venture company between Aegis Logistics and Royal Vopak. Aegis owns almost 50% stake in the company and Vopak has a 47% stake. Broadly the company is raising f
