Goodman Operating Profit Drops 1.5% to $850M and More APAC Real Estate Headlines

Australia’s best-known industrial specialist leads today’s roundup of news headlines, with Goodman Group reporting a dip in profit for the second half of 2025. Also making our list today, a shopping centre developer expands into housing and MA Financial finds a new partner from Shenzhen.

Goodman Operating Profit Drops 1.5% to $850M, AUM Grows 6.3%

Goodman Group on Wednesday reported that for the half year to the end of December it achieved an operating profit of A$1.2 billion ($850 million), down 1.5 percent from the same period a year earlier. Work in progress across all developments was A$14.4 billion, of which 73 percent was data centre projects. 

The group’s global power bank expanded to 6 gigawatts across 16 cities, and 500 megawatts of data centre projects were expected to be underway by June 2026, potentially lifting total work in progress towards A$18 billion by year-end. External assets under management grew 6.3 percent to A$75.2 billion, with management earnings of A$325 million and A$7.2 billion raised from third-party capital for data centre and logistics ventures. Read more>>

Australia’s Vicinity Centres Expands Into Residential Development

Mall owner Vicinity Centres is riding the recovery in spending and has flagged it will undertake a major new mall development in Brisbane, and will push into Sydney’s booming luxury apartment market.

The property group flagged a major shift into residential developments with projects planned in Chatswood and Bankstown in Sydney. Vicinity is in the latter stages of designing at Chatswood Chase where it has 480 luxury apartments next to the mall planned. Read more>>

MA Financial Teams With China Merchants for $600M APAC Credit Fund

CMBI, a wholly owned subsidiary of Shenzhen-based China Merchants Bank, and Australian global alternative asset manager MA Financial Group have signed an agreement to jointly manage the MA CMBI APAC Credit Opportunities Fund.

The fund aims to provide institutional and ultra-high-net-worth investors across the globe with unique access to Asia Pacific’s growing private credit market by focusing on senior secured leveraged loans to sponsor-backed corporate borrowers in APAC. The partners are targeting a fund size of $600 million, including equity commitments of $250 million, and an internal rate of return of 9 to 11 percent before fees. Read more>>

Dexus Confident in Office Bets in Face of AI Worries

Dexus CEO Ross Du Vernet doused concerns that artificial intelligence technology will hurt real estate demand, saying the market for premium office space remains strong.

The Australian real estate and infrastructure manager was speaking after a swath of commercial-property-related stocks fell last week on fears that AI applications would weaken demand for offices. Dexus manages office portfolios across Australian cities including Sydney and Melbourne. Read more>>

India’s Yotta Data Services Set to Spend Over $2B on Nvidia Chips

India’s Yotta Data Services will spend over $2 billion on Nvidia’s latest chips to set up an artificial intelligence computing hub as it prepares to float its shares, it said Wednesday, delivering a boost to the country’s fledgling AI drive.

Yotta is aiming to raise up to $1.2 billion from investors to fund its expansion ahead of an initial public offering, potentially due to happen as soon as this year, CEO Sunil Gupta told Reuters on the sidelines of the India AI Impact Summit in New Delhi. Read more>>

Sydney’s HMC Capital Sells Queensland Shopping Centres for $66M

Sydney fund manager HMC Capital has closed on the sale of a pair of Queensland retail properties for A$93.5 million ($65.9 million), with Centennial Asset Management having acquired one of the HomeCo home improvement mall locations. 

Centennial picked up HomeCo North Lakes on behalf of its Daily Needs REIT for A$52 million, according to a statement. HomeCo Bundall was acquired by a private investor for A$41.5 million. Read more>>

Mandarin Oriental Opens Malaysia Resort in Southeast Asia Expansion

With the official opening of Mandarin Oriental, Desaru Coast in Malaysia this month, the hotel group marked not only its first resort in the region, but also its first Southeast Asian contribution to its goal of more than doubling its global footprint by 2033.

The resort will soon be joined by a property in Bali that is set to open in 2027. And there are many other, as-yet-unannounced properties in “advanced stages” of discussion, said Anthony Tyler, area vice president of operations at the Hong Kong-based group. Read more>>

Real Estate Secondary Trades Reach Record $20B in 2025, Says Ares

The real estate secondaries market continued to grow in 2025, reaching a record $20.3 billion in total volume. The expansion was driven by rising demand for liquidity solutions across private real estate, stabilising valuations and improving real estate fundamentals, according to Ares Management.

In 2025, Ares Secondaries Group recorded 189 real estate secondaries transactions representing $20.3 billion of net asset value that closed or were placed under contract. This new high-water mark in both transaction count and NAV surpassed the previous 2024 records of 163 transactions and $14.6 billion of NAV by 39 percent and 16 percent respectively. Read more>>

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