Centurion group CEO Kong Chee Min
A successful market debut for a Singapore property trust leads today’s look at real estate news from around the region, as Centurion Accommodation REIT is welcomed to the SGX. Also making the list today are the sale of a Japanese hotel management company and a naughty tycoon buying a superyacht.
Centurion REIT Shares Jump 11% in Singapore’s Second-Largest IPO of 2025
Singapore’s second-largest stock listing of the year debuted with a bang, bringing the city-state’s proceeds from first-time share sales to a six-year high.
Units of Centurion Accommodation REIT, a spinoff from worker and student housing provider Centurion Corp, rose 9.1 percent Thursday from their initial public offering price of S$0.88 each. The IPO raised S$771.1 million ($599 million). Read more>>
Singapore’s IPC Selling Japan’s Nest Hotels to Greenfield for $17.5M
Singapore-listed IPC Corporation announced Thursday that it has agreed to sell Japanese hospitality management firm Nest Hotels to Greenfield Advisory for S$22.6 million ($17.5 million).
Nest manages 19 hotels across Japan, with IPC indicating in a statement to the stock exchange that the disposal would support the company’s efforts to be removed from the watchlist of the SGX-ST. Read more>>
Confidant of Singapore Tycoon Ong Beng Seng Buys Sergey Brin’s Superyacht
A person from billionaire Ong Beng Seng’s inner circle was behind the purchase of a superyacht previously owned by Google co-founder Sergey Brin, according to people familiar with the matter.
The 73 metre (240 foot) Capricorn was transferred to a new holding company in late October, according to filings reviewed by Bloomberg, which did not disclose the ultimate beneficial owner. The people did not identify or give further details about the buyer. Earlier that month, the real estate tycoon had been charged in a political scandal that stunned Singapore. Read more>>
Malaysian Royal Seeks to Sell $2.7B Singapore Site
The eldest son of Malaysia’s billionaire king is seeking to sell a prime Singapore plot, people familiar with the matter said, in what may be one of the city-state’s biggest-ever real estate deals.
Representatives of Ismail Ibrahim, the son of Sultan Ibrahim Iskandar of the Johor royal family, have approached developers in Singapore and other potential buyers, the people said, asking not to be identified discussing private information. The 16.6 hectare (41 acre) parcel in one of Singapore’s toniest residential enclaves is worth at least S$3.5 billion ($2.7 billion), according to two separate estimates by local property analysts. Read more>>
Ares Aims to Raise $8B in Equity for Data Centre Ventures
Ares Management has set fundraising targets for data centre investments, positioning itself to capture a share of the millions of dollars in new fees flowing into the booming sector.
The Los Angeles-based firm is aiming for more than $8 billion of equity fundraising to back data centres in the near term across London, Japan and Brazil, it told investors in a presentation on Thursday. Read more>>
SGX-Listed Prime US REIT to Raise $25M in Private Placement
Prime US REIT plans to raise at least $25 million via a private placement to fund plans to generate organic growth, with the US office market showing signs of recovery. Having held back distribution to unitholders previously, Prime US REIT plans to normalise distribution at 50 percent of its distributable income from the current half year, up from 10 percent now.
The new units will be priced between 19.35 and 20 US cents. At this pricing range, the placement will be priced at a discount of between 7 and 10 percent off the volume weighted average price of 21.5 US cents on 24 September. Read more>>
Frasers Malaysia JV Sells 50% Stake to Local Developer for $43M
Fraser and Neave Holdings Berhad announced Thursday that it will dispose of its 50 percent stake in its Vacaron joint venture, which owns a 5.1 hectare (12.6 acre) leasehold land parcel in Petaling Jaya.
FNHB’s stake in Vacaron will be sold to Tan & Tan Developments for MYR 180 million ($42.7 million), with the project having been a joint venture of FNHB and Frasers Property Holdings Malaysia. F&N Group owns 55.5 percent in FNHB and 27.7 percent of Vacaron. Read more>>
Daiwa House US Unit Buys North Carolina Developer
Stanley Martin Homes, a unit of Japanese developer Daiwa House, announced earlier this month that it has agreed to acquire the assets and operations of Windsor Homes, a homebuilder headquartered in Greensboro, North Carolina. The transaction is expected to close this month.
Windsor Homes currently controls 2,100 lots across North Carolina’s Triad region (including Greensboro, Winston-Salem, High Point and Burlington) and coastal region (around Wilmington) and has 270 homes under construction. The acquisition will significantly expand Stanley Martin Homes’ footprint in the Carolinas and strengthen its position in one of the fastest-growing housing markets in the southeastern US. 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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