China’s Ping An Real Estate is seeking to exit its investment in the 55-storey tower
The ongoing Chinese exodus from Australia’s real estate market leads today’s look at news from around the region as Ping An seeks to exit Sydney’s Salesforce Tower. Also in the headlines are a Tokyo office deal and a Hong Kong bad-loan portfolio backed by commercial properties that were once the region’s priciest.
Ping An Marketing Stake in Sydney’s Salesforce Tower for $597M
Global institutional investors are expected to lead the charge for a half interest in the Sydney Place development anchored by the Salesforce Tower, which is being sold off by China’s Ping An Real Estate for more than A$900 million ($597 million).
The company has tapped real estate agencies JLL and Colliers to market its 50 percent interest in the tower, seeking to capitalise on the upswing in prime rental markets and the rise in sentiment towards major office assets globally. Read more>>
Hankyu Hanshin REIT Buying Central Tokyo Office Block for $22M
The manager of Hankyu Hanshin REIT informed the Tokyo Stock Exchange on Wednesday that it has decided to acquire the Hankyu Hanshin Ueno Okachimachi Building for JPY 3.2 billion ($21.7 million).
The listed trust is planning to fund the purchase of the 2,167 square metre (23,325 square foot) office block with the proceeds from the transfer of Shiodome East Side Building and cash on hand. The central Tokyo property was developed by the REIT’s sponsor, Hankyu Hanshin Properties Corp. Read more>>
Hong Kong’s Hang Seng Bank Said Marketing $1B Portfolio of Bad Property Loans
Hang Seng Bank is seeking to sell a property-backed loan portfolio worth at least $1 billion, according to people familiar with the matter, as it looks to unload bad debt that’s piled up during the city’s commercial real estate slump.
The portfolio is backed by assets from borrowers including Hong Kong developers Emperor International Holdings and Tai Hung Fai Enterprise, said the people, who asked not to be identified discussing private matters. The deal is at an early stage and details could change, the people said. Read more>>
Indonesia Sovereign Fund Targets Data Centres, Healthcare and Renewables
The Indonesia Investment Authority is prioritising digital infrastructure, healthcare and renewables as the sovereign wealth fund seeks foreign partners and supports the nation’s economic development, its chief investment officer told Reuters.
INA was established in 2020 and started operations in 2021 with $5 billion in capital from the government and a dual mandate to generate returns and foster sustainable growth. It initially focused on direct equity investments to bring in foreign co-investors. Read more>>
Singapore’s URA Releases Bedok, Cross Street Sites
Singapore’s Urban Redevelopment Authority launched two residential land parcels in Bedok and the central business district for sale on Thursday.
The site at Bedok Rise can be built into 380 homes and falls under the confirmed list of the Government Land Sales programme for the second half of 2025. The Cross Street site in the CBD, which previously housed the Market Street Interim Hawker Centre, is to be developed into 315 units of long-stay serviced apartments. Read more>>
Stoneweg Europe Stapled Trust Sells Italy Asset for $13.5M
The managers of Stoneweg Europe Stapled Trust on Thursday announced the divestment of a non-core office asset in Italy for €11.4 million ($13.5 million) and the completion of a €7.8 million sale in Poland.
Completion of the divestment at Cassiopea 1-2-3 in Agrate Brianza is subject to the customary conditions and is expected in the fourth quarter of this year. The property consists of three interconnected buildings with a total lettable area of 11,503 square metres (123,817 square feet). Read more>>
Hong Kong Allows Cheaper Home Purchases to Qualify for Investment Visas
Hong Kong is lowering its threshold for home purchases by people applying for an investor visa to bolster the city’s property market.
Applicants for the New Capital Investment Entrant Scheme can buy a residential property valued at HK$30 million ($3.9 million) or above, Chief Executive John Lee said in his annual speech on Wednesday. The previous threshold was HK$50 million. Read more>>
Foreign Students Seen Driving Singapore Co-Living Demand
Demand from foreign students — especially from China — is fuelling growth in Singapore’s co-living sector, where the market is maturing and returns are moderating, according to JLL.
Foreign students now account for 25 to 40 percent of residents for some co-living operators, the consultancy said. “Particular growth has been noted from Chinese student tenants in the co-living market.” Read more>>
Singtel’s Nxera Aims for Greener Data Centres
Singtel’s data centre arm, Nxera, is developing a new generation of more sustainable, AI-ready data centres to support the advancement of artificial intelligence in Singapore and the region.
The development of DC Tuas — a high-efficiency, AI-ready data centre — is aligned with Singapore’s National AI Strategy 2.0 and green information and communications technology agenda. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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