The Grand Hyatt Incheon’s 500-room West Wing was added in 2014
A Korean hotel deal leads today’s look at real estate headlines from around Asia Pacific, as a casino operator adds half of a Hyatt to its Incheon footprint. Also in the news are a Gaw Capital logistics JV in the UAE and a Dash Living deal to open a new location in Hong Kong’s Wan Chai district.
Korean Casino Operator Closes on $145M Purchase of Grand Hyatt Incheon West Wing
In a regulatory filing this week, South Korea’s Paradise Co said it planned to complete the acquisition of the West Wing at the Grand Hyatt Incheon on 6 January after all closing conditions for the deal were fulfilled.
The KRW 210 billion ($145.2 million) acquisition by the foreigner-only casino operator had first been announced in September, with the hotel located adjacent to the firm’s flagship Paradise City integrated resort. Read more>>
Gaw Capital Launches UAE Industrial JV
Hong Kong’s Gaw Capital Partners and Dubai-based real estate investment firm GFH Partners have established a UAE-focused industrial and logistics joint venture, according to a statement on Monday. Gaw will hold a majority stake in the company, which will serve as a gateway for Asian capital to be deployed at-scale into UAE real estate.
The joint venture will target high-quality industrial development projects comprising pre-identified seed assets across Dubai, Abu Dhabi and Ras Al Khaimah, the Emirates’ fast-growing industrial zones. The developments will be led by Manrre Developments, a joint venture of GFH and the UAE’s Palmon Group. Read more>>
Dash Living to Open Johnston Road Location in Hong Kong
Dash Living announced Monday that it plans to open a new location on Johnston Road in Hong Kong’s Wan Chai district through a partnership with KHI Holdings Group, the parent firm of HKEX-listed Kwong Hing Investment.
The 120-unit property at 138 Johnston Road is set to open in the second half of this year and follows an earlier cooperation between the two companies for a project in Kowloon’s Mong Kok area. Read more>>
Australian Hospitality Operator Merivale Left Out of Lendlease Sydney Project
Billionaire Justin Hemmes won’t be part of a newly unveiled project in which two of Sydney’s biggest-ever office blocks will be built above a new Metro station, amid ongoing court action over the New South Wales government’s purchase of part of the site.
The tycoon’s Merivale operation was originally part of a consortium with heavyweights Lendlease and Mirvac to build the two towers above Hunter Street station in the Sydney CBD. But the over-station development will be set on a smaller site after a long-running tender for the project, which began in early 2022, was officially awarded. Read more>>
Japan’s Hulic Invests in MBK Seattle Senior Living Project
Japan’s Hulic Co has added another senior living project to its US portfolio, with the Tokyo-based developer announcing this week that it has invested in a Bellevue, Washington property with Mitsui & Co’s MBK Real Estate.
The suburban Seattle deal marks Hulic’s fourth investment in a senior living project operated by MBK Senior Living, a wholly owned unit of MBK Real Estate. Earlier cooperations between the companies include Hillcrest of Loveland, Savanna House and McDowell Village. Read more>>
Singapore’s Frasers Wins Approval for Brisbane Apartment Project
The Brisbane City Council has approved Frasers Property Australia’s exclusive Newstead apartment project, which is connected to the James Street precinct via a tree-lined laneway.
Located on the corner of Chester and Morse Streets, the project will deliver 70 two-, three- and four-bedroom apartments across two 16-storey towers, plus three terraced homes rising three storeys from the ground level. It will also feature a leafy public plaza, private residents’ garden and ground-floor retail. Read more>>
Hong Kong Developers Sold $750M in Luxury Homes in Late December
Developers in Hong Kong were kept busy during the holiday season as rich buyers went on a shopping spree for luxury homes.
The city’s high-end residential market had one of its busiest periods in years over the past two weeks, with transactions totalling more than $750 million at nine projects alone, according to Bloomberg calculations based on filings. That bodes well for the luxury sector this year, following a prolonged slump that was exacerbated by distressed owners dumping properties cheaply. Read more>>
Hong Kong Home Sales Hit 6-Month High in December
Hong Kong’s residential property market closed 2025 on a strong note, with transactions climbing to a six-month high in December, fuelled by demand for low-priced units even as values fell.
A total of 5,883 deals were completed last month, up 5.3 per cent month on month and an increase of 43.4 per cent year on year, according to Land Registry data released on Monday. Read more>>
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