William Huang, chairman and CEO of GDS Holdings, also chairs DayOne
Data centre IPOs star in today’s look at real estate headlines from around the region, with China’s GDS testing US investor appetite for its offshore business and India set for its first listing of a pure-play operator. A Japan power utility also makes the news with plans to part with a portion of its real estate portfolio, and an Osaka hotel is ready for a makeover by a pair of Hong Kong-based partners.
GDS Tests US Appetite for Chinese-Controlled Data Centres With $20B IPO Plan
DayOne Data Centers is targeting a valuation as high as $20 billion in its planned US initial public offering, people familiar with the matter said, in what would be a substantial increase from recent funding rounds.
The Singapore-based data centre operator is seeking to hire banks for the potential share sale, which may take place as soon as this year, the people said, asking not to be identified discussing private information. DayOne is also considering a dual listing in the US and Singapore as an option, some of the people said. Read more>>
India Data Centre Operator Sify Wins Approval for $400M IPO
Data centre operator Sify Infinit Spaces on Friday received approval from the Securities and Exchange Board of India for a INR 37 billion ($400 million) initial public offering.
The company has 12 months to launch the listing. The subsidiary of Chennai-based Sify Group would be the first pure-play Indian data centre provider to list on the country’s stock exchanges. Read more>>
Japan’s Tepco Looks to Sell $1.3B in Assets With 3 Years
Tokyo Electric Power Co is aiming to sell JPY 200 billion ($1.3 billion) in assets within three years, as it looks to fund its Fukushima clean-up efforts and meet rising power demand.
Japan’s biggest utility has identified 60 or so properties to sell and would also offload some securities holdings and affiliate shares, it said in a business plan that was approved by the government on Monday. Read more>>
Wayfarer Teams With Yi Capital for Osaka Hotel Project
Japan hotel operator Wayfarer is working with fund manager Yi Capital to reposition and operate an Osaka hotel, according to a recent announcement.
The Osaka transaction marks the 14th cooperation between Wayfarer and Yi Capital, according to a post by Wayfarer head Winston Chu, with the partners set to renovate the 34-key Luxcare Hotel near Osaka Castle. Read more>>
SC Capital Breaks Ground on UAE Industrial Park
SC Capital Partners said late last week that it has commenced construction of a Grade A industrial park in Ras Al Khaimah, United Arab Emirates, as the first development under its SC GCC Real Estate Industrial Development Fund with CapitaLand Investment.
Located within Ras Al Khaimah Economic Zone, the 300,000 square metre (3.2 million square foot) industrial park will offer 11 metre (36 foot) ceiling heights and floor loading of five tonnes per square metre. Read more>>
DayOne Takes On 560MW Finland Data Centre Project
DayOne, the offshore unit of Chinese data centre developer and operator GDS, late last week announced early-stage plans for a data centre project in Klaukkala, Finland. The company is in the process of buying a site for the project from the Municipality of Nurmijarvi, with the facility having the potential for up to 560 megawatts of total grid power. Read more>>
Nomura Banker Buys $9.6M Hong Kong House
A Nomura Holdings banker has bought a detached luxury house at Villa Rosa in Hong Kong’s Southern District for HK$75 million ($9.6 million), highlighting the gradual return of foreign professionals and senior executives to the city’s high-end residential market as prices soften.
Sachin Tulshyan, a Hong Kong-based managing director for equity products at Nomura, acquired the four-bedroom house in Tai Tam on 5 December, according to Land Registry records. Nomura did not respond to a request for comment. Read more>>
Singapore’s Ho Bee Land Buys Suburban Queensland Site for $220M
Ho Bee Land has acquired a development site in Queensland for A$318.5 million ($220.2 million) as the group moves to expand its long-term land bank in Australia, the SGX-listed builder announced Monday.
The 181 hectare (447 acre) site in the city of Moreton Bay is expected to accommodate 1,400 residential lots and 64 mixed business and industrial lots. 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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