PGIM to Invest $2B in APAC Property This Year and More Asia Real Estate Headlines

Asset manager PGIM reaffirms its commitment to Asia Pacific real estate despite trade turmoil, with that story leading today’s headline roundup. Also in the news, Singapore-listed Keppel DC REIT reports rising revenue and Hong Kong’s Link completes its solar power programme.

PGIM to Invest $2B in APAC Real Estate This Year Despite Tariffs

PGIM Real Estate, the property arm of Prudential Financial’s asset manager, expects to invest about $2 billion across Asia Pacific this year even as Donald Trump’s trade policies fuel concern about economic growth.

The firm invested about $900 million in real estate in the region in the first quarter, with most of that in Japan, said David Fassbender, PGIM Real Estate’s deputy head of Asia Pacific. It’s on course to meet the total even as the US tariffs potentially impact real estate investment and fundraising broadly. Read more>>

Keppel DC REIT Reports 22.6% Revenue Jump on Expanded Portfolio

Singapore-listed Keppel Data Centre REIT recorded a distribution per unit of S$0.02503 for the first quarter, up 14.2 percent year-on-year, the trust’s manager said. Distributable income for the period rose 59.4 percent to S$61.8 million ($47 million).

The rise in DPU and DI was driven by contributions from acquisitions and a robust portfolio performance, the manager said Thursday. It added that the DI included capital expenditure reserves, which were set aside for computing the DPU based on eligible unitholders’ entitlements. Read more>>

Link REIT Completes Solar Power Initiative in Hong Kong

Link Asset Management has completed a HK$78 million ($10 million) solar panel installation programme in Hong Kong with an estimated return of nearly 20 percent.

The company, which manages Link REIT, revealed that the programme spanning 53 properties involved 58 solar power systems, with the total installed capacity reaching 4,500 kilowatt-peak. It is now one of the largest private solar power system operators in Hong Kong, Link said. Read more>>

BlackRock, CK Restructuring Port Deal in Face of Mainland Pressure

Italian billionaire Gianluigi Aponte’s family-run business will be the lead investor of a group seeking to buy 43 ports from Hong Kong tycoon Li Ka-shing, people familiar with the matter said, shedding more light on a deal that’s been fiercely opposed by China over US involvement.

The deal was originally described as a consortium that included the Aponte family’s Geneva-based Terminal Investment Ltd (known as TiL), Global Infrastructure Partners and BlackRock. As details of the consortium trickle out, however, it’s emerged that TiL will take on ownership of all but two of the ports, the people said, asking not to be identified discussing previously unreported details of the transaction. Read more>>

Philippine Snack Maker Adds to Hong Kong Retail Portfolio

A company linked to Philippine tycoon Carlos Chan and the producer of Oishi snacks bought two ground floor shops in Hong Kong’s Wan Chai district for HK$128 million ($16.5 million), according to official documents, adding to the group’s real estate holdings in the city.

Miyazaki Development bought the properties in York Place at 22 Johnston Road last week, documents from the Land Registry showed. Private companies linked to Chan Hoi-wan, the 45-year-old CEO of Chinese Estates Holdings, and her sister Chan Sze-wan sold two shops in York Place on 18 March, according to property agents. The asking price was HK$140 million, local media reported. Read more>>

Stockland to Transform Sydney’s Waterloo Estates

ASX-listed property companies are stepping up and backing solutions to the housing crisis, with residential giant Stockland signing a multibillion-dollar deal to transform Sydney’s Waterloo estates. That transaction, alongside consortium partners Link Wentworth, City West Housing and Birribee Housing, will see it develop more than 3,000 homes, including an affordable component.

The developer beat interest from a rival consortium led by Lendlease. The job involves revamping the 1970s public housing estate into an apartment precinct. It will become a key part of the city’s response to the housing crisis due to its huge scale. Read more>>

Wharf High-End Residential Project Set to Test Hong Kong Luxury Market

When fear grips the markets and it looks like there’s nowhere to hide, luxury property might be an enticing investment option for the ultra rich. One of Hong Kong’s most prestigious developers is testing whether that holds true even in a city that’s been struggling with a property downturn for years.

The proof of concept is a clutch of new mansions on a historic site — at one of the world’s swankiest addresses. The properties at 1 Plantation Road stand out, even among the villas of the Peak, one of the most expensive neighbourhoods on the planet. Read more>>

Swire Properties Hunting for Shenzhen Retail Assets Despite Shopping Slump

Hong Kong developer Swire Properties is “very positive” about opportunities in mainland China and expects to see improvements in rental income despite dampened consumer and business sentiment amid a tariff war between China and the US, according to its CEO.

“Volatility and uncertainty are never good for business, and anything which undermines consumer confidence is not good for business,” Tim Blackburn said at a media event in Chengdu. “But there is evidence that even under the current tariff scenario, there are positive opportunities and positive consequences for our businesses.” Read more>>

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