Daily Briefing: Asia Partners's maiden fund hits final close at $514m; GuocoLand to launch Midtown Modern on 20 March

And more roads to be converted for pedestrians and cyclists.

From e27:

Asia Partners, a Singapore-based growth equity investment firm, has made the final close of its inaugural fund at $514m (US$384m) in commitments.

The Limited Partners (LPs) in the fund include institutional investors, family offices, corporations, and individual investors across six continents. The US International Development Finance Corporation and the Deutsche Investitions - und Entwicklungsgesellschaft from Germany are amongst its LPs.

The VC firm has already invested more than $121m (US$90m) across its first three investments, which collectively have operations across every major economy in Southeast Asia.

Asia Partners has six co-founders, namely Jill Cheong Hsi Min, Pitra Ciputra Harun, Nicholas Avinash Nash, Oliver Minho Rippel, Kien Nguyen, and Vorapol Supanusonti.

Read more here.

From PropertyGuru:

Midtown Modern, a luxury residential project at mega integrated development Guoco Midtown on Beach Road and Tan Quee Lan Street, is set for launch on 20 March.

Comprising two 30-storey towers and a retail podium, the 558-unit development features one- to four-bedroom apartments measuring between 409 sq ft and 1,808 sq ft. It will also offer two penthouses, one of which is a 3,272 sq ft four-bedroom penthouse while the other is a 3,520 sq ft five-bedroom penthouse.

GuocoLand revealed that it is also “offering the flexibility for larger families to purchase two four-bedroom premium units and use it as a duplex multi-generation apartment”.

Midtown Modern is a joint venture between GuocoLand, Hong Leong Holdings, and Hong Realty (Private).

Read more here.

From ChannelNewsAsia:

About 60 projects across Singapore have been identified for roads to be possibly converted into footpaths, cycling paths and bus lanes, as part of efforts to make these modes of transport more convenient.

Announcing this in Parliament on 5 March, Senior Minister of State for Transport Amy Khor said engagement for five of these projects have already started, adding that the authorities will seek the views of residents, town councils, and businesses to identify potential enhancements.

“These views will shape key project details, such as the length of the stretch being repurposed, or when permanent infrastructure enhancement works will commence or even if the project should proceed at all,” said Dr Khor.

These efforts will begin with projects to enhance walkability in areas such as the Civic District.

“Over the years, we have worked with arts and civic groups and premises owners to realise their aspirations for greater walkability within the Civic District,” she said.

Read more here.

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