William Huang, chairman and CEO of GDS Holdings and chairman of DayOne
More cash for data centres leads today’s real estate headlines from around Asia as the offshore unit of China’s GDS seeks to raise additional capital for its global expansion. Also in the news, a US private equity giant is said to be facing off with a top mainland player for Starbucks’ China operation and Tokyo’s rising home prices are forcing tough decisions for local buyers.
GDS’s DayOne Seeks to Raise $1B in New Funding
DayOne, a global data centre operator affiliated with GDS Holdings, one of China’s largest data centre operators, is seeking to raise more than $1 billion in a new funding round, four people with knowledge of the matter said.
DayOne, formerly known as GDS International, has tapped new and existing shareholders for the Series C fundraising, which will support its growth plans in Southeast Asia and Europe, said the people, who declined to be named as the information was confidential. Read more>>
Carlyle, Boyu Said to Lead Bidding for Starbucks China
Private equity groups Carlyle and Boyu Capital are the leading contenders to acquire a majority stake in Starbucks’ China business, as the US coffee chain seeks a local partner to help steer it through an increasingly competitive market.
Three people close to the deal process said the two groups were seen as Starbucks’ preferred partners, with a valuation for the full China business likely to come in at about $4 billion, excluding royalties, which are still being negotiated. Read more>>
Tokyo’s Rising Home Prices Disrupt Household Planning
Japan’s bout of inflation is cutting both ways in the Tokyo housing market.
Potential homebuyers in Tokyo are divided on their property purchasing plans as surging living costs add to affordability concerns, according to a Bloomberg Intelligence survey. Some are delaying purchases while others are wary of missing out on opportunities posed by rising home prices. Read more>>
Bank of Japan Seeks More Data Before October Rate Decision
Bank of Japan governor Kazuo Ueda said Thursday that the central bank will scrutinise various data, including information he collects during his stay in Washington, in deciding whether to raise interest rates in October.
He repeated his view that the central bank will hike rates if the likelihood of its growth and price forecasts materialising increases. Global and US economies are showing resilience, though the impact of US tariffs will likely emerge ahead, Ueda told a news conference after attending the G7 and G20 finance leaders’ gatherings in Washington. Read more>>
UOL Group Awarded Singapore Residential Site
A consortium led by UOL Group, which submitted the highest bid of S$524.3 million ($404.6 million) for a tender at Dorset Road, has been awarded the tender by the Urban Redevelopment Authority.
The consortium, made up of a 60:20:20 joint venture of UOL, SingLand and Kheng Leong, submitted its bid for the parcel of land on 9 October. The tender sale price amounts to S$14,405 per square metre of gross floor area. The Dorset site is a leasehold of 99 years and has a land area of 10,399 square metres (111,934 square feet). Read more>>
UOB Expects Singapore Property Restrictions to Stick Around
Property cooling measures in Singapore are expected to remain in place for the foreseeable future as key demand drivers continue to support the housing market, said UOB head of research Suan Teck Kin.
Speaking at the RICS-REDAS Conference 2025 on Thursday, Suan pointed to the strong correlation between the property price index and the size of the Singapore economy. Read more>>
S&P Sees China Property Downturn Lasting at Least One More Year
China’s vast property market is expected to continue to decline at least through the next year, according to S&P Global Ratings.
“We estimate nationwide primary property sales will fall 8 percent in 2025 and between 6 to 7 percent in 2026, as overall demand remains soft,” Edward Chan, director at S&P Global Ratings, said at a webinar on Thursday. Read more>>
Mysterious Manila Land Deal Puts Spotlight on Filipino Tycoon
Nothing about the largely empty stretch of land on the outskirts of Manila hints at how it produced a vast overnight fortune. Or a staggering write-down.
But that’s what unfolded after Manuel Villar, the richest man in the Philippines, moved the land from one part of his corporate group to another and announced its value had shot up to $23.3 billion from a mere $93 million. Read more>>
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