NTT Global Data Centers president and CEO Doug Adams
Japan’s NTT seeks to raise $864 million from a data centre REIT IPO in Singapore, with that story leading today’s headline roundup. Also in the news, Star Entertainment’s Hong Kong investors threaten to terminate a casino deal and Indian builder Anant Raj expands its data centre portfolio.
NTT Singapore Data Centre REIT IPO Aims to Raise Up to $864M
Japanese telecom giant NTT is seeking to raise roughly $864 million in a Singapore IPO for a data centre REIT if an overallotment option is included, according to a term sheet that marked the start of the bookbuilding process.
NTT DC REIT’s portfolio comprises six data centre assets located in the US, Austria and Singapore, according to a preliminary prospectus filed Friday. The value of the base offering is between $772 million and $812 million while the overallotment option would add another $51.5 million, the term sheet showed. Read more>>
Chow Tai Fook, FEC Threaten to Walk Away From Brisbane Casino Deal
Star Entertainment’s Hong Kong investors have threatened to walk away from a deal for Brisbane’s new Queen’s Wharf casino and hotel complex in a move that would again put the struggling casino group under extreme financial pressure.
Hong Kong’s Chow Tai Fook Enterprises and Far East Consortium, which each own 25 percent of the Brisbane complex, said in March that they would buy Star’s 50 percent stake and the Treasury hotel and carpark. Read more>>
Indian Developer Aims to Invest $2.1B in Data Centre Initiative
Anant Raj Ltd plans to spend INR 180 billion ($2.1 billion) on data centres as it joins a growing list of Indian companies looking to ride the boom in demand for AI and business-process-led services in the country.
The Delhi-based developer with a market value of $2.3 billion will launch two more data centres or server farms in the northern Indian state of Haryana. This is in addition to the one already operational, as it aims for a capacity of a little over 300 megawatts by 2032. Read more>>
Actis India Industrial JV Launches First Project in Chennai
Ample Parks, a joint venture of infrastructure-focused private equity firm Actis and Mahindra Group’s Mahindra Lifespace Developers, has announced the launch of its first industrial and logistics park in Chennai on a 71 acre (29 hectare) land parcel, with an initial investment of INR 8 billion ($93.4 million).
The land parcel is in the domestic tariff area of the Mahindra World City integrated development in the Oragadam Industrial Corridor-Maraimalai Nagar micro-market. Read more>>
Hong Kong Developer CSI Reports $220M Loss
Hong Kong-listed developer and fund manager CSI Properties said in its annual results that it suffered an attributable loss of HK$1.7 billion ($220 million) for the 12 months to the end of March.
The shortfall came after the company led by financier Mico Chung had fallen to a loss of HK$425.6 million the year before, with CSI attributing its recent challenges to changes in the fair value of its investment properties, write-down of properties held for sale and impairment on joint ventures. Read more>>
Hong Kong’s Golden Harvest Shuts Remaining Cinema Locations
Golden Harvest shut down all four of its remaining cinemas in Hong Kong on Sunday, including one that will not be leased to a new operator, leaving residents disappointed by the loss of another venue.
GH Galaxy in Shau Kei Wan ceased operations, while Golden Harvest’s other three cinemas — Sky at Olympian City, StagE in Tuen Mun and GH in Tai Po — will all be leased to a new operator from Monday. Read more>>
Hong Kong Home Prices Not Expected to Rebound This Year
The improving sentiment in Hong Kong’s property market has spurred hope for a sustainable recovery in home prices, but analysts suggest the rebound is unlikely to come this year due to an uptrend in mortgage rates and a nagging supply glut.
As of Friday, 9,150 first-hand transactions had been recorded so far this year, a 3.9 percent increase from a year earlier and a six-year high since 11,580 transactions were recorded in the first half of 2019, according to agents. Read more>>
Industrial Properties in Singapore’s Bukit Merah to Make Way for Housing
An industrial estate and a row of warehouses at Depot Lane in Singapore’s Bukit Merah area will be vacated by the fourth quarter of 2025 to make way for housing. JTC Corporation, which manages the industrial estate, said the plot will be returned to the state for future residential development.
Under the Urban Redevelopment Authority’s master plan, the Depot Lane industrial estate is part of a 7.3 hectare (18 acre) site zoned for residential use. Its plot ratio, which determines the intensity of the development, is subject to detailed evaluation. Read more>>
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