Centuria Buying Victoria Shopping Centre for $61M and More APAC Real Estate Headlines

Australia’s ongoing retail revival leads today’s real estate news from around the region, with Sydney-based Centuria betting on a Victoria mall. Also making the list, a Blackstone data centre platform is said to be planning a Chennai hub and a Hong Kong toy distributor buys an Admiralty office floor.

Centuria Buying Victoria Mall From BWP for $61M

Centuria Capital Group has agreed to purchase a Victoria state shopping centre from BWP Management for A$86 million ($61 million), as Australia’s retail property sector continues to be a target for institutional investors. 

The Sydney-based fund manager is acquiring the Chadstone Homeplus Homemaker Centre at a 1.1 percent premium to a 31 December valuation after major tenant Bunnings extended its lease through 2030. Read more>>

Blackstone’s Lumina CloudInfra Said Planning Chennai Data Centre Hub

Global investment major Blackstone is ramping up its data centre footprint in India, with a plan to invest INR 100 billion ($1.1 billion) to develop a hyperscale hub in Tamil Nadu, according to people familiar with the project.

Blackstone’s data centre platform Lumina CloudInfra has acquired a 16 acre (6.5 hectare) land parcel in Chennai’s Ambattur for INR 5 billion. The hyperscale campus in the Chennai metropolitan region will have an initial IT load capacity of 216 megawatts. Read more>>

Hong Kong Toy Distributor Buys Admiralty Office Floor for $37M

Rui Wah Holdings, the distributor of Japanese Gundam toys, has acquired a floor in Hong Kong’s Admiralty Centre from Kee Wai Group for HK$290 million ($37.2 million).

Rui Wah is acquiring the 16th floor of the Admiralty Centre for the equivalent of HK$14,300 ($1,833) per square foot, with the strata office deal coming after the company earlier this year acquired 8 Gage Street in Central for HK$95 million. Read more>>

Hong Kong Home Prices Rose in 2025 for the First Time in Four Years

Hong Kong home prices recorded their first annual increase in four years, the clearest sign yet that the city’s residential market is beginning to recover from a prolonged downturn.

The price index for private domestic homes rose 3.25 percent in 2025 from a year earlier, the first annual gain since 2021, according to figures released by the Rating and Valuation Department on Wednesday. The gauge also climbed 0.2 percent in December from a month earlier. Read more>>

Singapore Property Agency Roiled by Leadership Romance Scandal

Two senior executives at PropertyLimBrothers, a Singapore real estate agency, have resigned “with immediate effect”, with vice president of operations Marc Chan appointed interim chief executive.

The moves follow online rumours surrounding CEO Melvin Lim and vice president of strategy Grayce Tan. Checks by the Straits Times on PLB’s website on Monday showed that neither Lim nor Tan were listed as employees. Read more>>

South Korea to Fast-Track Seoul Housing Supply to Cool Prices

South Korea will accelerate a boost to housing supply in the Greater Seoul area, broadening its response to a yearlong rally in apartment prices after a raft of earlier measures to curb speculative demand proved insufficient.

The move is part of a housing supply expansion plan announced in early September, under which the government aims to break ground on more than 1.35 million homes nationwide over five years through 2030, according to a government statement released Thursday. Read more>>

Hong Kong Industrial Land Sale Plan Seen Creating Oversupply in Northern Metropolis

Hong Kong’s plan to offer 74 million square feet (6.8 million square metres) of logistics supply in the Northern Metropolis is 1.5 times the city’s existing stock, which may outpace the market’s ability to absorb, property services firm CBRE warned. 

While replacement and consolidation are necessary for the logistics industry going forward, absorption is uncertain in the short term, said Eddie Tsui, valuation and advisory services senior director at CBRE Hong Kong. Read more>>

CapitaLand Malaysia Trust Aims to Expand Industrial Portfolio

CapitaLand Malaysia Trust is eyeing acquisitions in Penang, Johor and the Klang Valley to expand its industrial and logistics segment, as it works towards a 20 percent assets under management mix by 2028.

Yong Su-Lin, CEO of the Singapore-listed REIT’s manager, said the retail-focused CLMT is gradually increasing its exposure to industrial and logistics assets as part of its portfolio diversification strategy. Read more>>

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