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Fifth Wall’s team have invested in scooters and trendy shoes, as well as proptech
Proptech investment firm Fifth Wall this past week celebrated the closing of the $345 million IPO for the venture capital firm’s first special purpose acquisition company (SPAC), the built-world-oriented Fifth Wall Acquisition Corp I.
Trading on the NASDAQ exchange under ticker symbol FWAA, the SPAC is a blank-cheque company incorporated for the purpose of achieving a future merger, asset acquisition or similar deal.
Fifth Wall co-founder and managing partner Brendan Wallace said the initial public offering was increased from the original target of $287.5 million because of “extraordinarily high public market demand”.
THE past one year saw a remarkably high number of hotel owners making the tough decision to shut down their business for good. While hotels including G City Club Hotel Kuala Lumpur and Holiday Inn Resort Penang in Penang were shuttered permanently, several others were closed temporarily, until people are allowed to travel again.
Just last week, Hotel Equatorial Penang, citing huge losses, announced that it planned to cease operations before March 31.
“Since last year, we have tracked about 90 hotels that had closed either temporarily or permanently,” says The Malaysian Association of Hotels CEO Yap Lip Seng. MAH’s data is from announcements or based on third-party reports.
Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement.
SINGAPORE: Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state.
Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement.
The government is trying to minimise the risk of transmission at offices after some cases in the workplace led to community clusters.
The move adds to headwinds for developers and REITs, amid questions over what the future holds for offices worldwide even after the pandemic.
(Feb 3): Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state.
Shares of commercial developers and real estate investment trusts have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimize the risk of transmission at offices after some cases in the workplace led to community clusters.
The move adds to headwinds for developers and REITs, amid questions over what the future holds for offices worldwide even after the pandemic. It will be harder to lease out vacancies and there will be pressure to lower rents if the work-from-home arrangement persists, said Terence Chua, an analyst at Phillip Securities Research Pte.
Singapore may act to stall rising home prices thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.