Evergrande’s liquidators are seeking $8.4 billion from PwC entities
Evergrande’s liquidators arrive in a Hong Kong court with a record-breaking claim against PwC in today’s regional roundup, while New World Development pursues urgent rent relief at its stalled airport mall and Jane Street moves into a new Singapore office.
Evergrande Liquidators Seek $8.4B From PwC in Hong Kong Court
Evergrande’s liquidators are seeking RMB 57 billion ($8.4 billion) from PwC International and its Hong Kong and mainland China affiliates, in one of the largest corporate claims brought before a Hong Kong court. The suit centres on PwC’s audit work for Evergrande, which defaulted in 2021 carrying more than $300 billion in liabilities.
Liquidators allege negligence and misrepresentation in PwC’s audits for 2017 and the first half of 2018. PwC’s Hong Kong entity has separately agreed to pay HK$1.3 billion ($166 million) in fines and compensation to settle regulatory investigations into its Evergrande work. Read more>>
New World Said Seeking to Waive $230M Annual Rent at 11 Skies Mall
New World Development is seeking to waive its HK$1.8 billion ($230 million) annual guaranteed rent obligation to the Airport Authority Hong Kong for its 11 Skies mall beside Hong Kong International Airport, according to people familiar with the matter. The developer has invested over HK$20 billion in the 3.8 million square foot (353,032 square metre) project.
New World confirmed that discussions with the authority are ongoing but stressed that no deal has been reached. Under any revised arrangement, the developer would continue sharing a portion of the mall’s revenue with the authority. Read more>>
Jane Street Doubles Singapore Capacity With New City Centre Office
Jane Street Group moved into a new Singapore office this month, doubling seating capacity to 250 people. The market-maker has taken 24,000 square feet (2,230 square metres) at IOI Central Boulevard Towers in Singapore’s central business district, with an option to lease additional floor space.
Jane Street employs almost 600 people across Asia Pacific and is a top market maker in Taiwan, Hong Kong, Australia and Japan. The firm is recruiting in Singapore for software, cybersecurity and data centre roles. Read more>>
Blackstone Commits $5B to Google Data Centre Joint Venture
Blackstone has formed a joint venture with Google to create a US-based company offering data centre capacity and Google Cloud’s Tensor Processing Units as a compute-as-a-service platform for AI workloads. Blackstone will make an initial equity commitment of $5 billion from funds it manages.
The venture aims to bring the first 500 megawatts of capacity online in 2027. Google will supply Tensor Processing Unit hardware, software and services to the new company, according to the announcement. Read more>>
Investment Bank Barrenjoey Pitching Ideas to Troubled Lendlease
Australian investment bank Barrenjoey is said to be pitching ideas to Lendlease — the precise nature of which remains unclear, but the very existence of such conversations has raised eyebrows and fuelled speculation that the company may have corporate activity on its agenda. And it comes at a moment when the listed property sector is alive with corporate manoeuvring.
One theory doing the rounds is that the pitch relates to the capital release unit, the vehicle Lendlease established to house non-core assets earmarked for divestment as part of its strategic retreat from offshore markets. The unit contains projects with long-dated liabilities, and selling them down has proved difficult. Read more>>
Heiwa Real Estate REIT Acquires Three Japan Office Buildings for $84M
Japan’s Heiwa Real Estate REIT announced the acquisition of three office buildings in Tokyo, Sapporo and Chiba for a combined JPY 13.4 billion ($84.3 million), the trust said. The assets include a fully occupied eight-storey building near Ueno Station in Tokyo, acquired for JPY 9.1 billion.
The remaining two assets are a 2024-built office building near Sapporo Station acquired for JPY 1.8 billion, and a nine-storey Chiba city centre office acquired for JPY 2.6 billion. All three acquisitions are scheduled to close by 5 June. Read more>>
Coliwoo Posts 17% Revenue Rise With $179M Asset Sale Underway
Coliwoo Holdings, Singapore’s biggest co-living operator, reported revenue of S$26.9 million ($21 million) for the half year ended 31 March 2026, up 16.6 percent year-on-year, with average occupancy of 97 percent across 3,568 rooms. The group expanded to 28 properties during the period.
Coliwoo has launched a S$218.5 million sale of seven freehold assets to fund further growth, with several parties submitting expressions of interest. The group targets 4,000 rooms in Singapore by end-2026. Read more>>
Lendlease REIT Reports 12% Retail Rent Reversion and 95% Occupancy in Q3
Lendlease Global Commercial REIT recorded retail rental reversion of 12.2 percent for the year to 31 March 2026, with portfolio occupancy rising to 95.3 percent. Tenant sales grew 17.6 percent year-on-year, partly driven by PLQ Mall.
The trust completed the acquisition of the remaining 30 percent stake in PLQ Mall in March 2026. Post-quarter, it issued S$120 million ($93.8 million) in perpetual securities at 4.28 percent to refinance an upcoming maturity, the manager said. Read more>>
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