Fund Management Helps Fuel Mirvac’s 5% Profit Jump and More APAC Real Estate Headlines

Rising property valuations and a recovering market are helping to drive some encouraging results for Australian property players, with Mirvac reporting a 5 percent earnings increase on Wednesday. Also delivering some positive news is Sydney’s GPT Group, which saw partnerships with global investors grow its holdings, while India’s Adani sees a green AI future in India. 

Mirvac Profit Rises 5% With Boost From Fund Management Business

Mirvac Group reported a 5 percent increase in operating profit to A$248 million ($175.3 million) for the half year to the end of December, with group earnings before interest and tax rising 10 percent to A$398 million.

Earnings for the company’s fund management business contributed to the profit increase, with EBIT rising to A$19 million from A$14 million a year earlier. Growth was driven by improved asset valuations, higher leasing activity and additional asset completions within the LIV Mirvac build-to-rent platform. The company also raised A$432 million for the Mirvac Wholesale Office Fund since its launch last April. Read more>>

Sydney-Based GPT Reports Boost in Income as Partnerships Expand

Sydney’s GPT Group this week reported funds from operations of A$650.5 million ($432 million) in 2025. Adjusted funds from operations totalled A$494.4 million and statutory net profit after tax reached A$981 million, including a A$308.5 million rise in investment property valuations. Assets under management increased to A$39.8 billion

Partnership deals contributed to the improving results, with GPT having established its A$1 billion GPT QuadReal Logistics Trust 2 during the period, seeding the vehicle with A$460 million in logistics assets and retaining a 20 percent interest. Separately, GPT acquired a 50 percent interest in Sydney’s Grosvenor Place alongside Commonwealth Superannuation Corporation for A$860 million. The GPT Wholesale Shopping Centre Fund raised A$280 million through equity issuance during the year. Read more>>

India’s Adani Promises to Invest $100B in Sustainable, AI Data Centres

Adani Group plans to invest $100 billion by 2035 to develop green-powered, AI-ready data centres, as billionaire Gautam Adani seeks to capitalise on India’s bid to emerge as an artificial intelligence and cloud computing hub.

The investment will likely “catalyse” an additional $150 billion investment across server manufacturing, advanced electrical infrastructure and related sectors over the next decade, flagship Adani Enterprises said Tuesday. The company’s shares closed 2.7 percent higher in Mumbai. Read more>>

KKR, EQT Said Competing to Buy Victoria Land Title Registry

Private equity giants could wind up as owners of one of Australia’s largest property settlements businesses, with Manhattan-based KKR and Swedish rival EQT positioning themselves to secure a major stake in Victoria’s land titles registry.

The business is believed to have a price tag well over A$3 billion ($2.1 billion), and Aware Super is thought to be keen to sell at least 50 percent through investment bank Barrenjoey. First-round bids are believed to be due in three to four weeks, and EQT and KKR are positioning to bid, say sources. Read more>>

Hong Kong Court Dismisses Country Garden Wind-Up Petition 

Chinese developer Country Garden said Monday that the Hong Kong High Court has dismissed the winding-up petition filed by Ever Credit Ltd against the property developer in 2024.

Ever Credit, a unit of Hong Kong-listed Kingboard Holdings, filed the petition in February 2024 against Country Garden for non-payment of a $205 million loan. The petition was filed a month after the now delisted China Evergrande, once one of China’s top-selling developers, was ordered to be liquidated by a Hong Kong court in a blow to Beijing’s efforts to restore confidence in China’s property sector. Read more>>

Sydney Suburb Faces Fight Over Plan for 10,000 Homes

In the leafy streets of Woollahra, an affluent Sydney enclave home to some of Australia’s priciest real estate, locals haven’t been this riled since 1976.

Half a century after residents helped kill off a train station they feared would shatter the suburb’s calm, workers returned to the abandoned site last month to resurrect the plan. This time, it’s linked to the construction of 10,000 new homes in and around Woollahra as the state government scrambles to boost supply in one of the world’s least-dense and most expensive housing markets. Read more>>

India’s DLF, Phoenix Mills Shelve REIT Plans 

Indian developers DLF and Phoenix Mills have both shelved plans to list REITs based on their commercial portfolios, according to sources. The reasons include strong cash flows and REIT regulations (such as distribution of 90 percent of income and requirement of completed 80 percent portfolio), which these companies are averse to adhere to, the sources said.

The Securities and Exchange Board of India recently eased regulations for REITs, including measures to boost liquidity and encourage institutional participation, and the RBI will let banks lend to them directly, which is expected to widen their funding avenues and bring in incremental funds. Read more>>

Multinationals Seen Driving Record Leasing of Indian Business Parks

Leasing by India’s global capability centres touched a record 31.3 million square feet (2.9 million square metres) in 2025, marking a structural shift in how multinational corporations are embedding India into their global operating models, according to JLL.

GCCs are offshore units set up by multinationals to provide support services. Over the past two years, more than 200 new GCCs have entered India, taking the total operational footprint past 263 million square feet of Grade A office space. They account for nearly 40 percent of India’s total office leasing over the last decade, making them the single largest structural demand driver in commercial real estate. Read more>>

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