Thailand and Laos have signed a memorandum of understanding (MoU) on the formation of a strategic partnership that will include broad economic and infrastructure development agreements.
The new partnership will see the two companies explore their shared commitment to ESG for their first joint city living project in Hong Kong’s booming West Kowloon district.
HONG KONG SAR – Media OutReach – 2 June 2022 – WEAVE LIVING, Asia-Pacific’s leading fully-integrated lifestyle rental accommodation provider, and PGIM REAL ESTATE, the leading global real estate asset manager with c. USD210 billion of assets under management and administration, today jointly announce the formation of a USD200 million urban living joint venture (JV) in Hong Kong.
The new JV has completed the acquisition of an en-bloc premises at 86 Tai Kok Tsui Road (the former Rosedale Hotel, Kowloon). This acquisition represents PGIM REAL ESTATE’s first joint investment with WEAVE LIVING in the rental accommodation sector in Hong Kong. While PGIM REAL ESTATE will hold 90% of the JV on behalf of its open-ended Asia Core strategy, WEAVE LIVING will take a 10% stake and be responsible for asset, development and operations management of the JV and its assets under the WEAVE LIVING brand. The partners will also continue to explore opportunities in the burgeoning rental accommodation sector in the region’s key gateway cities.
Over the next 12 months, the JV will invest to undertake an extensive renovation of the West Kowloon property and expect to grow its Gross Development Value to over USD240 million, with the intention to own and operate the repositioned asset on a long-term basis. The property is set to be transformed into the type of all-inclusive urban living concept that has become synonymous with the WEAVE LIVING brand. The work will include a reconfiguration of some of the property’s 435 units to create stylish, well-appointed, and flexible modern living solutions for residents at what will become the largest property in the WEAVE LIVING portfolio to date.
Leveraging the existing green design and practices of the property, the JV partners will also explore more ways to incorporate sustainable features throughout the property. Plans include the setting up of solar panels on the rooftop with electricity generated to support power usage throughout the 19,000 square feet of shared spaces within the property, including the 4,000-square-foot rooftop terrace. In-line with the JV partners’ mutual vision around environment, social and governance (ESG) considerations for this new location, WEAVE LIVING has also secured green financing from The Bank of East Asia, Limited for this collaboration.
Benett Theseira, Head of Asia-Pacific at PGIM REAL ESTATE, said: “Over recent years, we have leveraged three thematic drivers to advance our investment portfolio in Asia-Pacific, namely digital transformation, generational change in living needs, and sustainability. We believe that the demand for real estate is driven within this context, especially in the Asia-Pacific market, which is why we are focusing on potential investment opportunities that incorporate these core elements. We are thrilled to enter into a JV with WEAVE LIVING, one of the leading providers of contemporary and hassle-free rental accommodation, and an ambitious stakeholder in the sector, in Asia-Pacific. It did not take long to realise that our visions are aligned, especially regarding commitment to putting ESG at the forefront of our operations. WEAVE LIVING’s commitment to reducing its carbon and waste footprint to promote sustainable living concurs with our core investment strategies.”
Sachin Doshi, Founder and Group CEO of WEAVE LIVING, said: “WEAVE LIVING is honoured to form a JV with PGIM REAL ESTATE, a partnership which we are confident can further scale the WEAVE LIVING brand and expand our mission to bring together a diverse community of global citizens to reside in our inspiring spaces that raise the standard of modern city living. As far as we are aware, this is the first time a long-term, global, core investor has established a foothold in the fast and institutionalising multi-family living sector in Hong Kong, and we are pleased that WEAVE LIVING has secured this opportunity in partnership with PGIM REAL ESTATE for our newest property.”
Doshi continues: “Since the establishment of WEAVE LIVING in 2017, we have devoted our resources to promoting a sustainable way of living, which forms an integral part of our ESG commitments. We have put together a corporate ESG roadmap and policy framework to ensure our vision is implemented across each of our properties. We are excited to partner with PGIM REAL ESTATE to embrace these shared values and acquire a West Kowloon property which is certified for its sustainability with LEED Gold certification by the US Green Building Council.”
With a total gross floor area of approximately 111,000 square feet, the property will be equipped with generously sized and well-equipped shared spaces that will span three levels, with communal spaces including an entire floor dedicated to work-from-home facilities, recreation areas, wellness spaces, state-of-the-art kitchens and designer living spaces, typifying WEAVE LIVING’s dedication to creating communities of residents within each of its properties. The property will also feature a 4,000-square-foot rooftop terrace with mesmerising views of the Hong Kong skyline. It is targeted to welcome its first residents in mid-2023.
About Weave Living
Founded in 2017 by Sachin Doshi as a response to the gap in the market for beautifully designed and professionally managed living options, WEAVE LIVING currently owns and operates rental accommodation units across the Asia-Pacific region under its three consumer brands — WEAVE STUDIOS, WEAVE SUITES and WEAVE RESIDENCES — catering to a broad and diverse demographic of urbanites and professionals in key gateway cities.
Offering flexible lease terms and move-in-ready homes with all-inclusive prices for a streamlined, stress-free rental process, WEAVE LIVING’s dedication to its residents and neighbourhood is matched by a commitment to the local community via frequent collaborations with artists, brands, and partners, which imbues each WEAVE location with a true sense of place.
With a commitment to ESG (Environmental, Social and Governance), WEAVE LIVING is constantly seeking the best possible ways to reduce environmental impact and carbon footprint of its properties and residents, while ensuring an uncompromised rental experience is delivered to the residents at all times.
As one of the largest real estate managers in the world with US$209.3 billion in gross assets under management and administration1, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the US$1.4 trillion global asset management business of Prudential Financial, Inc. ( NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing2, and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information, visit pgimrealestate.com.
1 As of 31 Dec. 2021, AUM reflected as gross. Net AUM is US$137.9 billion and AUA is US$45.9 billion. 2 Includes legacy lending through PGIM’s parent company, Prudential Financial, Inc.
About PGIM
PGIM, the global asset management business of Prudential Financial, Inc. ( NYSE: PRU), ranks among the top 10 largest asset managers in the world3 with more than US$1.4 trillion in assets under management as of 31 March 2022. With offices in 17 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.
3 Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on 31 May 2021. This ranking represents global assets under management by PFI as of 31 Dec. 2020.
SHENZHEN, CHINA– Media OutReach – 2 June 2022 – Since its launch on May 23, OPPOHack 2022 – ColorOS, has gladly seen the participation of developers around the world. Through intensive high-level competition with international peers, the developers and OPPO are committed to inspiring multi-dimensional insights and presenting innovations that could truly enhance user experiences.
OPPOHack 2022 with participants from 50+ countries & regions
OPPO has invited international professionals and experts from 12 world-leading colleges, more than 20 renowned incubators worldwide, and OPPO Ubiquitous Services as judges and mentors. Highlights include the creation of Chinese entrepreneurs’ association consisting of excellent companies such as Xiaohongshu and Mobvoi, co-sponsorship with industrial mentor and investment expert YEA – a lodestone of developers, and partnership with SFU incubator who has helped over 185 startup businesses and StartupWeekend, the most successful startup practice platform in USA.
The event, centered with the concept of “Ubiquitous Services: Intelligence Linking the World” has attracted developers from more than 50 countries/regions including China, USA, Canada, UK, Singapore and India within 1 week, focusing on unhindered Cross-device Connection and User-centric Intelligent Services, which probes into core capabilities such as unconscious technology, integrated perception, situational awareness, intent-driven, and multi-mode interaction, aiming to work out smart solutions applicable to various fields including smart entertainment, smart education and smart production.
OPPO, as global technology company dedicated to tech innovations, has more than 10,000 scientists and researchers working in its six research institutes and four R&D centers around the globe. Backed by OPPO’s strong R&D resources, ColorOS and its partners keep leading industrial research and making technological breakthroughs. Its industry-leading technologies include bendable screen interaction, HyperBoost frame stabilization technology, and hidden camera detection, among others.
ColorOS aims to make the event a stage where world’s developers showcase their potential, and strengthen cooperation with overseas investors, colleges and research institutions, startup entrepreneurs and industrial experts to boost exchanges and integration of innovative technologies and diversify the tech ecology of ColorOS.
About OPPO
OPPO is a leading global smart device brand. Since the launch of its first mobile phone – “Smiley Face” – in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO also provides its users with ColorOS operating system and internet services such as OPPO Cloud and OPPO+. OPPO has footprints in more than 60 countries and regions, with more than 40,000 employees dedicated to creating a better life for customers around the world.
The European Chamber of Commerce and Industry in Lao PDR (ECCIL EuroCham) and the European Union Delegation in Lao PDR co-organized the Lao-Europe Business Networking and Promotion Event on 26 May 2022 at the Pullman in Luang Prabang.
HANOI, VIETNAM – Media OutReach – 2 June 2022 – Recently, Piggy Go, a popular casual & social mobile game under Forever9 Games’ was launched in Vietnam, and attracted well-known YouTube influencers such as Lâm Vlog , Gãy Media , Nguyễn Minh Trường and Thien Ph to strongly recommend it.
Since its launch, Piggy Go has triggered a download boom in Europe, Malaysia, Thailand, and other regions, ranking first on the Google Play free app download list and game download list in many countries. So far, its total registered users worldwide exceed 12 million. After launching in Vietnam for the first week, Piggy Go soon ranks first on the App Store free download list and Google Play game download list. If you invite friends to play together now, you’ll have an opportunity to get rich rewards in kind!
It upgrades and emulates Monopoly “Dice Board” gameplay, with both nostalgia and novelty
The game’s key component, the dice and board gameplay, awakens the memories of playing Monopoly in our childhood. Players get gold coins from the board by throwing dice. The gameplay is simple and easy to use, allowing players to forget their troubles and get a refreshing gaming experience. In addition, gold coins can be used to build and upgrade your town, while you easily travel around the world at home and enjoy great worldwide scenery.
As a new social venue, it allows players to play with friends and family
Players can interact with friends in the game, and log in through the associated Facebook account. How long has it been since you saw your friends last time? Through this game, players can break through the barriers of reality and interact with their Facebook friends in real time in various ways. Players can get opportunities for attacks, shields, sneak attacks, etc. from the chessboard. And friends can get gold coins by bombarding each other’s towns, sneak attacking each other’s vaults, and defending against attacks through shield skills. Each piggy family member has unique skills. Let’s see whose piggy can earn more coins.
The game also includes cooking, card collection, and guild formation, etc. Players can obtain additional game rewards by exchanging ingredients and cards with friends, and completing recipe ingredients and card group collection tasks. Come play chess with the piggy family, and easily deepen connections between family and friends through interaction, and expand your circle of friends.
Invite friends to join the game and become the winner of life together
In addition to the above-mentioned gameplay, there are more limited-time activities in the game waiting for you to explore! The Piggy has just arrived for the first time in Vietnam and has prepared lots of special treasures for Vietnam players.
Invite your Facebook friends to join the game now to enjoy the gold coin pool in the game together, and with the opportunity to win rich rewards in kind! The piggy family has prepared iPhone13 and GOTIT shopping cards and other gifts for you. Just tap the invite button, and get your friends to join you on the road to wealth. Download “Piggy Go” through the link below, follow its fans’ community, and start the journey of gold coins with the piggy family. Let’s make friends, get rich together in Piggy Go!
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