Latest news with #CPGroup
Forbes
3 days ago
- Business
- Forbes
Side Hustles Take Offices Buildings Beyond 9-To-5
Bankrate report from July of last year revealed about one-third of Americans are working a side hustle, with the Millennial and Generation Z cohorts the most likely to be pulling extra hours at a second job. By the time a more recent survey of side hustles was revealed by MarketWatch in April, it appeared the portion of Americans toiling at part-time second jobs had surged to half, with 72% of Generation Z and 62% of Millennials logging overtime at jobs that weren't their primary vocations. The seemingly growing American predilection to take on side gigs has helped recraft conventional assumptions about the workforce. But it's not just people tackling part-time jobs after the close of regular business hours. It's more and more common for the nation's office buildings to moonlight for extra income on an after-hours basis. With return-to-office mandates helping revive demand for office square footage at the same time retail's recent 4.1% vacancy rate signals a supply shortage, office building owners savor a rare opportunity. They can ride new revenue streams by leasing space for retail pop-ups, brand-propelled activations and private gatherings. Turning available space over for multiple uses not only brings landlords greater revenue from the same square footage, but generates greater foot traffic, a boon to both landlords and tenants. Popular choices Florida's largest office property owner, CP Group, is among the owner-operators leveraging this concept. At The Center (formerly CNN Center) in Atlanta, branded pop-ups and a proposed entertainment hub heralding the 2026 World Cup are both intended to lure members of the community while also attracting additional corporate tenants. Miami Tower's rooftop pool and Skydeck terrace high above central Downtown Miami are popular choices for private events. And in Boca Raton, a former IBM research facility turned 1.7-million-square-foot Boca Raton Innovation Campus (BRIC) has seen its sprawling conference and event space become host site for weddings, mar mitzvahs and charity events. 'Our business is evolving to change the traditional office building environment from one that has been cloistered from the broader community to one that has been integrated within it,' says Angelo Bianco, managing partner, CP Group. 'This has had a significant positive impact on our office buildings, increasing rental rates, tenant retention and leasing velocity.' National real estate owner-developer AmTrust RE now offers several rentable amenities spaces at One East Wacker, its freshly refurbished trophy office tower on the northern border of Chicago's Loop central business district. Following its renovation, the tower offers state-of-the-art technology and contemporary interior design attracting private and public events. An event hall, sky lounge with bar and large conference rooms host both corporate and personal events, with booking through platforms like PartySlate. An added inducement to rent space in the 63-year-old, 41-floor marble-clad building is its location near the center of downtown Chicago, steps from the increasingly popular Chicago Riverwalk, and a short stroll from Millennium Park and North Michigan Avenue. 'Opening amenity spaces for non-tenant uses creates a more vibrant workplace environment and can also introduce cost savings opportunities for tenants of the building,' says Jonathan Bennett, president, AmTrust RE. 'The added stream of revenue for property owners can offset costs and allow them to offer tenants access to these spaces at a discounted rate, enabling another means for businesses to take advantage of their office community.' First 'metroburb' In a class by itself is Holmdel, N.J.'s Bell Works, a masterpiece designed by Eero Saarinen as the Bell Labs campus, which opened the same year One East Wacker did. The 2-million-square-foot building, dubbed the nation's first 'metroburb,' is now home to businesses, shopping, dining, lodging and the arts. Among its side hustles is serving as a shooting site for film and TV productions, such as Law & Order: Organized Crime, The Crowded Room, and the extolled Apple TV series Severance, as well as TV commercials. A second Bell Works, this one originally constructed as the AT&T research facility and now a destination for business and culture, stands in the northwest Chicago suburb of Hoffman Estates, Ill. and is termed Bell Works Chicagoland. Both the New Jersey and Chicago complexes host community functions and private gatherings. For instance, the ballroom at Bell Works New Jersey can be booked for galas and weddings, and a sprawling rooftop deck provides a scenic milieu for outdoor corporate clambakes and private throngs. The last few years have seen little more than bad news for the office sector. But the extra hours of work some office structures are logging supplies hope of brighter days ahead.
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
CP Group tycoon predicts limited impact of US tariffs on ASEAN
TOKYO -- Dhanin Chearavanont, advisory chairman of Thailand's CP Group, says that while ASEAN countries will not be immune to Trump's tariffs, the levies won't have "a big impact." In a keynote address to Nikkei's annual Future of Asia conference in Tokyo on Friday, Dhanin also said Chinese manufacturers will feel the U.S. tariffs.
Korea Herald
23-05-2025
- Business
- Korea Herald
CP Group and Global Infrastructure Partners Establish Strategic Partnership with True IDC To Accelerate Thailand's Digital Infrastructure Growth
BANGKOK, May 16, 2025 /PRNewswire/ -- Mr. Suphachai Chearavanont, CEO of Charoen Pokphand Group (CP Group) and Chairman of True Corporation Public Company Limited, announced a strategic partnership with Global Infrastructure Partners (GIP), a part of BlackRock and True IDC, Thailand's number one data center provider. The collaboration is designed to accelerate and elevate Thailand's digital infrastructure to world-class standards, supporting the rapid growth of AI and cloud computing and helping to drive Thailand to become ASEAN's leading digital economy hub. Mr. Suphachai Chearavanont, CEO of Charoen Pokphand Group (CP Group) and Chairman of True Corporation Public Company Limited said that the transition to the Giga Data Center Age presents a critical opportunity for Thailand. Countries with strong data center infrastructure will emerge as global digital economy hubs. For this reason, CP Group, through True IDC, Thailand's No.1 data center and cloud service provider, is establishing this major strategic partnership with GIP, the world's premier infrastructure investing platform. This partnership is designed to drive the expansion of Thailand's digital infrastructure and help support the growth of global technology businesses. "GIP's global expertise in infrastructure management, combined with True IDC's strengths in data centers and cloud services, network connectivity, and renewable energy solutions, will enhance True IDC's capabilities and drive its expansion across ASEAN," said the CP Group CEO. The executive further stated that the global economy is now entering the "Giga Data Center Age", where data is the "New Oil", making it the most valuable resource that requires data centers for processing. "Data centers will be the heart of the new economy" the CP Group CEO emphasized. Mr. Bayo Ogunlesi, Founding Partner, Chairman, and CEO of GIP, and Senior Managing Director at BlackRock, expressed that "The growth of data consumption and AI requires significant amounts of private capital to fund investments to help the world's leading data center developers and operators provide this essential infrastructure to their customers," said Bayo Ogunlesi. "We are very pleased to establish this strategic partnership with CP Group and True IDC to accelerate digital infrastructure capabilities across Thailand and, more broadly, Asia in order to serve growing demand." Mr. Thanasorn Jaidee, President of True IDC, affirmed that "True IDC has always been committed to driving Thailand to become the digital hub of ASEAN. This collaboration with GIP will accelerate the realization of that goal. Currently, the hyperscale business and AI technologies are growing at an exponential rate. This partnership will strengthen True IDC's business expansion and help maintain our position as Thailand's No.1 data center leader amid intense competition. We are confident that GIP, with its expertise in managing and investing in global infrastructure, will enhance True IDC's capability to fully expand its business across ASEAN. This collaboration is therefore a key strategy to support the growing digital ecosystem and digital transformation across the region." This partnership is expected to significantly accelerate True IDC's growth. Over the next three to five years, True IDC plans to exponentially grow investment in data center business, targeting the deployment of over US$ 1billion in capital. In addition, True IDC plans to increase clean energy implementation, invest in R&D for technological and sustainability innovations in data centers, enhance operational standards and corporate governance, and broaden its service footprint across ASEAN. True IDC, CP Group and GIP are committed to strengthening Thailand and ASEAN's leadership in digital infrastructure, laying the foundation for sustainable technological growth across all sectors. The partnership between True IDC and GIP-BlackRock is not merely a business expansion; it marks a pivotal step in transforming Thailand into the digital hub of ASEAN. As the world rapidly enters the era of AI and cloud, this collaboration unites Thailand's No.1 data center leader with a global infrastructure powerhouse to drive the nation's digital economy forward and attract major technology investments from around the world. This is a defining moment for Thailand's digital industry, laying a strong foundation for the country to enhance its global presence. True IDC and GIP are committed to building a stable, sustainable, and influential future in the global digital economy—because Thailand will no longer be just a "technology user," but will rise to become a true center of innovation and digital infrastructure in the region.
Yahoo
22-05-2025
- Business
- Yahoo
Ashita Group Secures USD 155M in Growth Capital from CPFam-LDA Asia Growth Fund and AEI Capital Group to Fuel Regional E-Commerce and Social Commerce Expansion Post-Listing
KUALA LUMPUR, Malaysia, May 22, 2025 /PRNewswire/ -- Ashita Group, a rising leader in the B2B2C, e-commerce, and social commerce sectors, proudly announces a transformative commitment of growth capital investment up to USD 155 million by CPFam-LDA Asia Growth Fund and AEI Capital Group into Ashita Group, as it is gearing towards its upcoming public listing. This milestone follows a recent pre-listing strategic investment in Ashita Group at USD 1 billion valuation led by AEI Capital Group in partnership with 3 other institutional investors, namely (i) Vynn Capital, a top VC firm focused in SEA and backed by prominent sovereign wealth funds and conglomerates, (ii) VisionGain Capital, a prominent hedge fund firm focused in China and Asia, known for its active participation in China unicorn investments space, and (iii) the strategic investment arm of Fonixtree Technology, Alibaba Cloud's overseas associated company for global digitalisation business riding on AliCloud technologies. This investment underscores the strong market confidence in Ashita Group's vision to redefine digital commerce across Southeast Asia and beyond over the next 5 years. The CPFam-LDA Asia Growth Fund, a strategic joint venture between LDA Capital, a global alternative investment firm, and CP Group, Thailand's largest and most diversified conglomerate, has committed USD 55 million to support Ashita Group over a three-year period following its public listing. Launched in 2023 with a USD 2 billion mandate, the fund is focused on backing high-growth, pre-IPO and publicly listed companies across Southeast Asia. By leveraging CP Group's deep regional relationships and LDA's cross-border investment expertise, the CPFam-LDA Asia Growth Fund aims to unlock transformational growth opportunities and deliver long-term value across the region. "Ashita Group is redefining how social commerce and digital distribution scale across Southeast Asia," said Warren Baker, Managing Partner at LDA Capital. "Their tech-enabled B2B2C platform, robust logistics infrastructure, and data-driven approach uniquely position them to capture growth across underserved markets. We believe Ashita is on the cusp of exponential expansion, and we're proud to support their public listing and long-term vision through the CPFam-LDA Asia Growth Fund." AEI APAC Growth Equity Flagship Fund under AEI Capital Group with groupwide AUM exceeding USD2 billion, a long-standing partner of Ashita Group for the past 8–9 years, shall also commit to invest up to USD 50 million + 50 million over a 2+2-year period upon Ashita Group's public listing, reinforcing AEI Capital's role as Ashita's public listing cornerstone investor during the listing phase. "Having supported Ashita Group for nearly a decade, we've witnessed their incredible potential firsthand," said John Tan, Chairman & CEO of AEI Capital Group. "This investment underscores our confidence in their ability to lead the next wave of digital commerce innovation in the region." Ashita Group's CEO, Sherly, expressed her enthusiasm for the partnerships, stating, "These USD 155 million investment commitments by CPFam-LDA Asia Growth Fund and AEI APAC Growth Equity Flagship Fund, mark a transformative chapter for Ashita Group. With the backing of such a diverse and strategic group of investors, we are well-positioned to scale our operations, innovate at an unprecedented pace, and deliver exceptional value to our partners and customers across the region." The combined capital commitments will fuel Ashita Group's regional expansion in the B2B2C, e- commerce, and social commerce sectors over the next 4 years. The company plans to leverage this funding to enhance its platform capabilities, drive technological innovation, and capture new market opportunities across Southeast Asia, China, and beyond, with a focus on global digitalisation trends. Ashita Group's public listing is poised to be a game-changer, enabling the company to tap into new growth avenues while building on its strong foundation in the digital commerce space. With a clear focus on innovation and customer-centric solutions, Ashita Group aims to set new benchmarks in the industry over the coming years. The digital investment banking consortium formed by CapForce International Holdings Ltd. and European Credit Investment Bank is the financial advisor and placement agent for Ashita Group in the aforesaid transactions. For more information about LDA Capital and AEI Capital Group, please visit the following respective websites: - LDA Capital: AEI Capital Group: View original content to download multimedia: SOURCE AEI Capital Group Ltd; Ashita Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
CP Group and Global Infrastructure Partners Establish Strategic Partnership with True IDC To Accelerate Thailand's Digital Infrastructure Growth
BANGKOK, May 16, 2025 /PRNewswire/ -- Mr. Suphachai Chearavanont, CEO of Charoen Pokphand Group (CP Group) and Chairman of True Corporation Public Company Limited, announced a strategic partnership with Global Infrastructure Partners (GIP), a part of BlackRock and True IDC, Thailand's number one data center provider. The collaboration is designed to accelerate and elevate Thailand's digital infrastructure to world-class standards, supporting the rapid growth of AI and cloud computing and helping to drive Thailand to become ASEAN's leading digital economy hub. Mr. Suphachai Chearavanont, CEO of Charoen Pokphand Group (CP Group) and Chairman of True Corporation Public Company Limited said that the transition to the Giga Data Center Age presents a critical opportunity for Thailand. Countries with strong data center infrastructure will emerge as global digital economy hubs. For this reason, CP Group, through True IDC, Thailand's No.1 data center and cloud service provider, is establishing this major strategic partnership with GIP, the world's premier infrastructure investing platform. This partnership is designed to drive the expansion of Thailand's digital infrastructure and help support the growth of global technology businesses. "GIP's global expertise in infrastructure management, combined with True IDC's strengths in data centers and cloud services, network connectivity, and renewable energy solutions, will enhance True IDC's capabilities and drive its expansion across ASEAN," said the CP Group CEO. The executive further stated that the global economy is now entering the "Giga Data Center Age", where data is the "New Oil", making it the most valuable resource that requires data centers for processing. "Data centers will be the heart of the new economy" the CP Group CEO emphasized. Mr. Bayo Ogunlesi, Founding Partner, Chairman, and CEO of GIP, and Senior Managing Director at BlackRock, expressed that "The growth of data consumption and AI requires significant amounts of private capital to fund investments to help the world's leading data center developers and operators provide this essential infrastructure to their customers," said Bayo Ogunlesi. "We are very pleased to establish this strategic partnership with CP Group and True IDC to accelerate digital infrastructure capabilities across Thailand and, more broadly, Asia in order to serve growing demand." Mr. Thanasorn Jaidee, President of True IDC, affirmed that "True IDC has always been committed to driving Thailand to become the digital hub of ASEAN. This collaboration with GIP will accelerate the realization of that goal. Currently, the hyperscale business and AI technologies are growing at an exponential rate. This partnership will strengthen True IDC's business expansion and help maintain our position as Thailand's No.1 data center leader amid intense competition. We are confident that GIP, with its expertise in managing and investing in global infrastructure, will enhance True IDC's capability to fully expand its business across ASEAN. This collaboration is therefore a key strategy to support the growing digital ecosystem and digital transformation across the region." This partnership is expected to significantly accelerate True IDC's growth. Over the next three to five years, True IDC plans to exponentially grow investment in data center business, targeting the deployment of over US$ 1billion in capital. In addition, True IDC plans to increase clean energy implementation, invest in R&D for technological and sustainability innovations in data centers, enhance operational standards and corporate governance, and broaden its service footprint across ASEAN. True IDC, CP Group and GIP are committed to strengthening Thailand and ASEAN's leadership in digital infrastructure, laying the foundation for sustainable technological growth across all sectors. The partnership between True IDC and GIP-BlackRock is not merely a business expansion; it marks a pivotal step in transforming Thailand into the digital hub of ASEAN. As the world rapidly enters the era of AI and cloud, this collaboration unites Thailand's No.1 data center leader with a global infrastructure powerhouse to drive the nation's digital economy forward and attract major technology investments from around the world. This is a defining moment for Thailand's digital industry, laying a strong foundation for the country to enhance its global presence. True IDC and GIP are committed to building a stable, sustainable, and influential future in the global digital economy—because Thailand will no longer be just a "technology user," but will rise to become a true center of innovation and digital infrastructure in the region. View original content to download multimedia: SOURCE True Internet Data Center Co., LTD. (True IDC) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
