Tuhin Parikh, executive chairman of real estate India at Blackstone
India REITs lead today’s look at real estate headlines from around the region, with a Blackstone-backed trust prepping for its market debut. Singapore’s GIC also makes the news with a deal to sell a tower in Midtown Manhattan, and more housing plots are up for tender as the Lion City’s residential market continues to rise.
Blackstone-Backed Indian Developer Said to Seek $3.9B Valuation in IPO
Blackstone-backed Bagmane Prime Office REIT is preparing to launch an initial public offering as soon as next month, seeking a valuation of about $3.9 billion, according to people familiar with the matter.
Bengaluru-based developer Bagmane has secured regulatory approval and begun investor roadshows, the people said, asking not to be identified discussing private information. Read more>>
GIC and Tishman Speyer Selling Manhattan Office Tower for $136M
Tishman Speyer and GIC have agreed to sell the CitySpire, a 70-storey tower in Manhattan, to DelShah Capital and AM Property Holding Corporation for $135.7 million, according to a source close to the deal.
The property is a 377,000 square foot (35,024 square metre) office and condo tower on West 56th Street. Singapore sovereign fund GIC purchased CitySpire’s office floors in 2001, and Tishman Speyer bought a 51 percent share of the office space in 2004. Tishman then purchased the fee interest and residential portion of the building in 2012. Read more>>
Singapore’s URA Releases Prime Condo Sites for Tender
Singapore’s Urban Redevelopment Authority on Wednesday released two prime residential sites in the Core Central Region — one at Holland Plain and another along Morrison Lane in the Robertson Quay area — for sale under the government land sales programme for the first half of 2026.
With new projects in the CCR selling well over the past year, analysts expect to see four to six bids for the site at Holland Plain. The Morrison Lane site in River Valley, which is being released from the reserve list, is also likely to be triggered for sale. Read more>>
Shanghai Eases Homebuying Rules to Boost Housing Market
China’s financial hub of Shanghai eased homebuying rules, the latest attempt by authorities to contain the nation’s prolonged property slump.
The city will allow non-resident homebuyers who have paid social security or individual tax for a year to purchase homes in urban areas, according to a statement Wednesday. Previously it required those without local household registration to pay social security or individual tax for three years before becoming eligible. Read more>>
Quebec’s La Caisse Reports 9.3% Return as Real Estate Disappoints
Caisse de Depot et Placement du Quebec, Canada’s second-largest pension fund, saw its net assets rise to C$517 billion ($378 billion) in 2025 after a 9.3 percent overall return, which compared with 10.9 percent for a benchmark portfolio, the fund said.
Real estate assets continued to weigh on La Caisse, with just a 0.2 percent return, because of high financing costs and poor performance of assets in China, though offices and shopping centres are recovering from the pandemic. Infrastructure gained 9.2 percent, thanks to energy, ports and highway assets. Read more>>
SGX-Listed Stoneweg E-REIT Reports 2.7% Uptick in Net Property Income
Stoneweg Europe Stapled Trust’s distribution per stapled security for the second half of 2025 fell 3.1 percent year-on-year to €0.06837.
Six-month revenue reached €107.2 million ($127 million), up 0.5 percent from a year earlier, the REIT’s managers said Wednesday. Net property income for the period was up 2.7 percent at €67.4 million. Read more>>
Japan Hotel REIT Announces $808M 2025 Tokyo Hyatt Regency Acquisition
Tokyo-listed Japan Hotel REIT announced Wednesday that it had acquired the Hyatt Regency Tokyo hotel for JPY 126 billion ($808 million), confirming a transaction widely reported last year.
The REIT managed by Singapore’s SC Capital Partners purchased the 746-key luxury hotel from KKR and Hong Kong’s Gaw Capital after the two private equity firms had teamed up to purchase the property two years earlier. Read more>>
KKR Japan REIT Announces $69M Ibaraki Office Acquisition
Japan Metropolitan Fund announced Wednesday that it has decided to purchase an office building in Ibaraki prefecture north of Tokyo for JPY 10.7 billion ($69 million).
In its statement, the KKR-managed REIT said the property benefits from proximity to Tsukuba Station on the Tsukuba Express commuter rail line. The REIT’s asset manager had acquired the property via a bridge vehicle in 2024, with the manager having since achieved a 6.7 percent average increase in rents. Read more>>
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