IOI Properties executive vice chairman and CEO Lee Yeow Seng (Image: IOI Group)
The return of REITs leads today’s look at real estate investment news from around Asia, with a Malaysian developer said to be looking at listing opportunities for its growing portfolio of commercial assets. China’s JD Property also makes the news with its latest UK shed buy, and a Singapore investment manager is said to be marketing a portfolio of community retail assets.
Malaysia’s IOI Properties Explores Potential Listings of $8B in Assets in Singapore, KL
IOI Properties Group is exploring two REIT listings in Malaysia and Singapore with a combined asset value of up to $8 billion, two sources with knowledge of the matter said.
The company, one of Malaysia’s biggest developers, is in talks with advisors and looking to list a Malaysia REIT on Bursa Malaysia in 2026 and a Singapore REIT on the SGX in 2027, the sources said. Read more>>
JD Property Buys UK Warehouse as European Expansion Continues
The property investment division of China’s JD.com has added another asset to its growing UK portfolio through a joint venture with local player Prime Box.
The two companies have teamed up to purchase a 330,000 square foot (30,658 square metre) warehouse in Wigan, midway between Manchester and Liverpool, for an undisclosed sum. The partners are understood to have plans to improve the property acquired from supermarket chain Asda. Read more>>
Mercatus Said Marketing 11 Singapore Retail Properties
NTUC Enterprise unit Mercatus is understood to have put on the market a portfolio of 11 retail assets across Singapore, comprising strata retail space in Coronation Shopping Plaza and Bukit Timah Plaza and nine Housing & Development Board commercial shops.
The total indicative price of the 11 properties, adding up to 172,000 square feet (15,979 square metres) of space, is S$307 million ($236 million), the Business Times understands. The properties have full occupancy, anchored by Singapore’s biggest supermarket chain, NTUC FairPrice, which is set to retain long-term tenancies in the assets. Read more>>
Henderson Land Names Project on Hong Kong’s Site 3 as ‘Central Yards’
Henderson Land Development announced Tuesday that its 1.6 million square foot (148,645 square metre) commercial project on Hong Kong’s harbourfront will be marketed as Central Yards.
The retail-led 300,000 square foot first phase of the project is set to debut in 2027, with the second stage scheduled for 2032, the company said. Plans for Central Yards include the introduction of Hong Kong’s first private Broadway‑calibre theatre. Read more>>
Top Floor of Hong Kong’s BoA Tower on the Market With Office Values Collapsing
Savills said Tuesday that it has been appointed to market the top floor of the Bank of America Tower in Hong Kong’s Admiralty area as investors continue to sell off office properties in the Asian financial hub.
The consultancy is making available the 10,500 square foot (975 square metre) 37th floor of the office building for an undisclosed amount. Late last week local developer Emperor International announced that it had sold an office building in Wan Chai for 27 percent less than it agreed to acquire the property in 2013. Read more>>
CK Asset Said to Have Sued for Losses on Cancelled Hong Kong Condo Deals
CK Asset filed lawsuits against at least eight buyers who defaulted on their purchases at two developments for HK$17.65 million ($2.3 million). The value of eight flats totalled over HK$120 million, and their buyers’ forfeited deposits amounted to HK$8.61 million.
Involving El Futuro in Sha Tin and Lyos in Yuen Long, the developer sought to recover resale losses on the new projects. Three El Futuro defendants have been declared bankrupt for failing to clear their payments, according to local media reports. Read more>>
Philippine Developer Falls 76% as Trading Restarts After Auditor Rejected Valuations
One of the frothiest stocks in the Philippines has plunged in recent days, erasing more than $16 billion of its founder’s fortune and raising new questions about its remarkable ascent and sudden nosedive.
Golden MV Holdings began falling on 13 November after regulators lifted a six-month trading suspension on the stock, continuing through Tuesday morning. So far the shares are down 76 percent, the developer’s worst streak as a public company. Read more>>
Upper Serangoon Shopping Centre Back on the Market in Singapore at $200M
The six-storey strata-titled Upper Serangoon Shopping Centre has been relaunched for collective sale, with an unchanged reserve price of S$260 million ($199.6 million).
The sum translates to S$1,471 per square foot on the existing gross floor area of 176,792 square feet (16,425 square metres), said marketing agent CBRE. 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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