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Manulife Leads Gaw, Pamfleet Consortium Buying Cityplaza


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Gaw Capital now manages stakes in all three phases of the Cityplaza complex
Hong Kong’s biggest building sale of 2020 closed on one of the last days of the year, with sign-off on the trade of Swire Properties’ Cityplaza One in Taikoo also bringing to light the deal’s largest investor.
While a consortium led by funds managed by Gaw Capital Partners and Schroder Pamfleet had signed the agreement to acquire the 21-storey office building in early November, Canadian insurer Manulife has now joined the deal as the biggest investor, through its participation in the Gaw fund, according to an announcement on 30 December. ....

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Scottish tourism chiefs warn of looming 'devastation' for industry after flood of festive cancellations


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The recent survey of nearly 3000 businesses found that more than a third have made staff redundant in 2022, while more than two thirds expected to have to make cuts in the next few months.
Hospitality businesses in the Highlands, like the Clachaig Inn in Glencoe, will be forced to close on Boxing Day. Picture: VisitScotland / David N Anderson
Some operators are said to have estimated losses of up to £600,000 as a result of the announcement that Level 4 restrictions would be imposed across mainland Scotland from Boxing Day.
The Scottish Tourism Alliance, which has published an open letter to First Minister Nicola Sturgeon on behalf of the industry, said it was already “decimated” by the pandemic and only had the “slimmest prospects of recovery” in the next few months before the latest curbs were announced. ....

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