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  • BMW cafe says Hello to Korea

    BMW cafe says Hello to Korea

    A BMW cafe in Korea has opened inside a Lotte department store in Incheon.

    Lotte Department Store’s Premium Outlet allows visitors to enjoy the BMW motorcycles and related accessories such as clothing and helmets. The cafe open today, May 27.

    Free consultations about motorbikes and other products are also offered to customers.

    BMW Cafe Korea 1

     

    “We tried to make a store that targets men who are interested in motorcycles,” said a Lotte spokesman.

    “We’ll try to expand our shopping spaces that cater to male customers.”

    The number of Korean motorcycle fans has increased in recent years, doubling the number of imported high-capacity motorbikes from 10,300 in 2012 to 20,800 in 2015.

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  • Changi makes it four as World’s Best Airport

    Changi makes it four as World’s Best Airport

    For the fourth year running Singapore Changi Airport has been voted the World’s Best Airport by air travellers at the Skytrax 2016 World Airport Awards, held at the Passenger Terminal EXPO in Cologne, Germany.

    The Skytrax awards are the most comprehensive on the planet, based on 13.25m ‘customer nominations’ across 106 nationalities of air travellers using 550 airports worldwide. The survey evaluates customer satisfaction across 39 key performance indicators for airport service and product – from check-in, arrivals, transfers, shopping, security and immigration, to departure at the gate.

    Changi Airport was also voted Best Airport in Asia, as well as the Best Airport for Leisure Amenities, with the latter award recognising the airport’s music bar lounges, cinemas, music deck, swimming pool, napping and rest areas – plus its in-terminal Transit Hotel.

    In order, the Skytrax best airport ranking 2016 placed Singapore Changi first, ahead of second placed Incheon, Munich Airport (3); Tokyo Haneda (4); Hong Kong (5); Chūbu Centrair Nagoya (6); Zürich Airport (7); Heathrow (8); Kansai (9); and Hamad International Doha (10).

    Mr Lee Seow Hiang (left), CEO of Changi Airport Group, receiving the World’s Best Airport award from Mr Edward Plaisted (right), CEO of Skytrax. This is the seventh time that Changi Airport has picked up this top title at the World Airport Awards.

    Commenting on the award to Changi, Edward Plaisted, CEO of Skytrax said: “To be voted by customers as the world’s Best Airport four years in succession is a most remarkable achievement for Changi Airport Singapore, and is clear testament to the airport’s popularity amongst air travellers.

    “Changi Airport continues to innovate in both product and service options for its customers and focus on making the customer experience at the airport as enjoyable and relaxing as possible.

    “To be named by global travellers as the world’s favourite airport for the 6th time in ten years is great reward not only to Changi Airport management, but for staff across every section of the airport who contribute in every little way to Changi Airport operations.”

    Adding his comments, Mr Lee Seow Hiang, Changi Airport Group CEO said: “To be named the World’s Best Airport by Skytrax for the fourth year running is a significant achievement for Changi Airport and a clear affirmation that we continue to hit the right notes in our pursuit of service excellence.”

  • M&G makes first retail acquisition in South Korea

    M&G makes first retail acquisition in South Korea

    M&G Real Estate has acquired three retail assets in South Korea at a combined value of US$230 million, representing an average yield of 6.5%. The acquisition was made on behalf of its core Asia real estate strategy, managed by Singapore-based Erle Spratt.

    Under the terms of the deal, M&G Real Estate has acquired two hypermarkets: the first in Daejeon, South Korea’s fifth largest city; the second in Jeju, the capital of the Jeju Province and the nation’s premier tourist destination. The third asset is an outlet mall in Incheon City, the country’s third largest city after Seoul and Busan. All three assets are highly sought after retail outlets in prime locations and are leased to South Korea’s largest retailer, Lotte Shopping.

    Hyesik Ryu, Managing Director, M&G Real Estate Korea, comments: “We were one of the first non-domestic institutional investors to invest in South Korea when we bought into the country’s commercial office sector in 2004. M&G Real Estate has developed a deep understanding of the market, enabling us to make this latest investment in the retail sector, which will strengthen the strategy’s long term income stream.”

    Erle Spratt adds: “We’re seeing strong capital flows, particularly from global pension funds and insurance companies in the UK and Europe. With responsibility for more than US$2 billion in assets, we are well positioned to pursue property investments across the region to further improve our risk adjusted returns and sustain the outperformance of our portfolio.”

    Stefan Cornelissen, M&G’s head of institutional business, Benelux, Nordics and Switzerland, says: “The Asia Pacific real estate market is now the second largest in the world and rivals the US and Europe in terms of its maturity, transparency and liquidity. European investors in search of diversification can now benefit from Asia’s strong economic growth and attractive long term returns without going higher up the risk curve.

    “We have recently had a significant commitment from Dutch investor, Blue Sky Group, which has invested on behalf of its recently launched Core Asia Pacific Fund. We expect further capital to follow from other UK and European investors. Asian real estate has come of age and is earning itself a strategic place in a diversified core real estate portfolio.”

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