Hong Kong’s Parkview Wins $940M Refinancing Deal and More Asia Real Estate Headlines

A major refinancing deal for a Hong Kong developer leads today’s look at real estate headlines from around the region as Parkview Group buys some time to pay its bills. Hillhouse also makes the news again as competing bidders for asset manager IGIS question the sale process, and Guangdong-based builder Agile is hit with a wind-up petition.

Hong Kong Builder Parkview Wins $940M Refinancing Backed by Beijing Asset 

Parkview Group has secured a $940 million loan refinancing deal backed by a key Beijing asset, according to people familiar with the matter, ending a months-long saga that had weighed on the Hong Kong developer amid China’s prolonged property crisis.

The new loan has a one-year tenor and carries an additional extension option of up to two years, said the people, who asked not to be identified discussing private matters. The facility, backed by the Parkview Green complex in Beijing’s Chaoyang district, refinances an identical-sized borrowing that underwent two extensions — in August and November — this year. Read more>>

Hillhouse Says It Followed the Rules as Competitors Question IGIS Deal

Hillhouse Investment, a Chinese private equity fund manager selected as the preferred bidder for the acquisition of IGIS Asset Management, has responded to criticism from Heungkuk Life Insurance, but the firm remains silent on the most contentious issue: the bidding process itself.

“We have strictly adhered to the standards and regulations set by the sale manager throughout the entire process,” Hillhouse said in a prepared statement. Heungkuk Life, which offered a lower bid for IGIS, criticised the selection of the preferred bidder, claiming it was a joint effort between the sale managers (Goldman Sachs and Morgan Stanley) and the Chinese private equity firm. Read more>>

Chinese Developer Agile Hit With Wind-Up Petition

Chinese developer Agile said it has received a winding-up petition and will oppose the petition vigorously.

The request was filed by Melco (Zhongshan) Business Management at Hong Kong’s High Court in relation to certain alleged outstanding payments in the aggregate amount of $18.6 million (HK$145 million) and RMB 2.2 million (HK$2.4 million), according to a filing. The first hearing date for the petition is set for 25 February 2026. Read more>>

Australian Retirement Trust in Due Diligence for $2.9B Westfield Sydney Mall

One of Australia’s top super­annuation funds is in due diligence to take a stake in the Westfield Sydney complex in the heart of the central business district, with the deal set to value the entire property at A$4.4 billion ($2.9 billion).

The move would likely see Australian Retirement Trust take a 25 percent interest in the huge complex in a sign of its confidence in the resurgence in city retail, with the A$1 billion-plus cheque making it one of the country’s largest-ever retail property deals. Read more>>

CapitaLand Ascendas REIT Completes $69M Sale of Brisbane Warehouse

CapitaLand Ascendas REIT on Wednesday announced that it has completed the sale of a warehouse complex in suburban Brisbane for S$90 million ($69 million), finalising a deal first announced one month ago. 

The Singapore-listed trust sold the property at 95 Gilmore Road in Berrinba to Cadence Property Group in a burst of divestments by the CapitaLand Investment-managed REIT. Read more>>

China Sovereign Fund CIC Says Profit Jumped 40% in 2024

Sovereign wealth fund China Investment Corp on Tuesday said its 2024 net profit rose 30.4 percent from a year earlier as returns on overseas investments exceeded targets and domestic financial capital under management grew.

In its annual report, the firm said net profit rose to $140.64 billion from $107.86 billion a year earlier. Its annualised cumulative net investment return on overseas investments for the decade ending in 2024 was 6.92 percent, beating the fund’s target, it said. Read more>>

Hong Kong Home Prices Could Jump 5% in 2026, Driven by Mainland Buyers

Hong Kong home prices are likely to see up to a 5 percent boost in 2026 on the back of mainland Chinese buyers, interest rate cuts and fewer unsold new flats, according to analysts.

In addition, the stamp duty adjustment and Hong Kong’s resurgent stock market were also expected to help sustain stability in the city’s residential property market, according to JLL and Cushman & Wakefield. Read more>>

India’s Welspun One to Invest $61M in Pune Logistics Park

Welspun One said Tuesday that it will invest INR 5.5 billion ($61 million) to develop a 1.2 million square foot (111,484 square metre) logistics park in Pune, where it has been allotted a 46 acre (18.6 hectare) land parcel.

The land is located in Talegaon MIDC Phase IV, marking the company’s debut in Pune. Welspun Group chairman Balkrishan Goenka said the company’s expansion across major logistics hubs reflects its commitment to building critical infrastructure for India’s manufacturing and consumption economy. Read more>>

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