Dexus to Sell Assets Worth A$383.2 Million

28 Jun 2024 CW Team

Dexus, an Australian real estate firm, announced its decision to sell three assets, including a 25% stake in the premium Sydney office building 5 Martin Place. The combined proceeds from these sales are expected to be A$383.2 million (US$254.67 million).

Following the announcement, shares of Dexus fell by as much as 4.1%, marking the company's worst trading day since October 25, 2023.

The 25% stake in 5 Martin Place is valued at A$148.1 million and is jointly held with the Canada Pension Plan Investment Board, local media reports. The property boasts a high occupancy rate of 97% and a weighted average lease expiry of 2.9 years as of May 31.

Dexus plans to use the proceeds from the sales primarily to repay its debt. This move comes after the company flagged a decline in the book value of its portfolio for the six months ending in June, highlighting an accelerated downturn in the office real estate market.

Real Estate

02 Jun 2026

Dash Square Adds Ashley Study Furniture

Dash Square has expanded its furniture portfolio with a curated study furniture collection from Ashley Furniture Homestore. The range is designed for contemporary homes where work, study and creative activities increasingly require dedicated and well-planned spaces.The collection includes writing desks, executive workstations, storage-led study units and display shelving. It combines practicality, comfort and design to create workspaces that are functional as well as visually appealing.One setting features a light-toned desk with coordinated bookcases and storage cabinets, creating a bright an..

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-med..

AGNI Launches Industry Benchmarking Drive

The Association of Global NICMARians (AGNI), the alumni body of NICMAR, hosted ASPIRE 2026 in Mumbai under the theme ‘Innovation to Transformation’. The symposium brought together professionals from construction, infrastructure, real estate and project management to discuss technology, AI, sustainability and data-led decision-making.At the event, AGNI announced its vision to emerge as an industry think tank and launched initiatives including an Industry Benchmarking Programme. It also proposed a digital ecosystem with tools for innovation impact assessment, salary benchmarking, company ben..