Boustead Singapore chairman Wong Fong Fui
In today’s real estate news from around the region, Boustead Singapore teams up with UI Boustead REIT to develop an aerospace facility, Japan’s NTT Docomo sells off a pair of Tokyo plots and Mapletree Industrial Trust offloads a Philadelphia data centre for $14.5 million as Vietnam auctions designer handbags seized from convicted real estate tycoon Truong My Lan.
UI Boustead REIT JV to Build Aerospace Facility in Singapore
Boustead Singapore has formed a joint venture with UI Boustead REIT to develop a build-to-suit aerospace facility at Seletar Aerospace Road 1. A Boustead subsidiary holds a 49 percent stake, with the REIT holding 51 percent. The 29,986 square metre (322,767 square foot) site carries a 24.5-year JTC lease.
A leading global aerospace corporation has signed as tenant. Total new contracts since the start of fiscal 2027 stand at S$461 million ($360.9 million), the company said. Read more>>
NTT Docomo Sells Tokyo Sites to Sumitomo, Japan Post for $371M
NTT Docomo Inc. sold two plots of land in central Tokyo for about ¥59 billion ($371 million), according to people familiar with the matter, the latest large deal in Japan’s booming real estate market.
The mobile phone operator sold the land surrounding the Hitotsubashi building in the Chiyoda ward to Sumitomo Corp. for around ¥50 billion, land registry records show. It also sold land under a building in Shinjuku district to Japan Post Real Estate Co. for about ¥9 billion. Docomo will continue to own the two buildings, said the people, asking not to be identified discussing confidential information. Read more>>
Mapletree Industrial Trust Divests Philadelphia Data Centre for $14.5M
Singapore-listed Mapletree Industrial Trust has agreed to sell a two-storey data centre in Philadelphia for $14.5 million, a 4.3 percent premium to its $13.9 million independent valuation. The property spans 124,190 square feet (11,538 square metres).
The manager said leasing interest since the lease expiry in December 2024 has been limited, making divestment the most prudent course to optimise capital allocation and portfolio performance. Read more>>
Vietnam Auctions Pair of Tycoon Truong My Lan’s Hermes Bags for $539,000
Vietnam has auctioned two Hermes handbags belonging to convicted real estate tycoon Truong My Lan for VND 14.2 billion ($539,000), as authorities accelerate efforts to claw back assets linked to the country’s largest fraud case. Courts have ordered Truong to repay $27 billion in damages.
The government is auditing assets owned by Truong and her affiliates to fund the recovery effort after the businesswoman allegedly led her Van Thinh Phat Group in a spree of fraudulent borrowing. Read more>>
Kowloon Development’s Or Family Pays $35M for Site in Hong Kong’s Central
Or Pui Kwan, executive director of Hong Kong-listed Kowloon Development Company, bid HK$277 million ($35.6 million) at a compulsory auction on Thursday to consolidate the family-controlled developer’s ownership of a Gough Street site in Central, setting the stage for a mixed-use tower in one of the city’s most tightly supplied neighbourhoods. The winning bid reflects a buildable floor rate of HK$7,246 per square foot.
The site at 35 to 39A Gough Street carries a permitted gross floor area of approximately 38,100 square feet (3,540 square metres) and can be developed into a 25-storey mixed-use tower of around 69 residential units. Or Pui Kwan is the son of Or Wai Sheun, who has served as Kowloon Development’s chairman and controlling shareholder since acquiring the listed vehicle in 2002. Read more>>
Charter Hall Funds Under Management Tops $53B on Record $4.6B Inflows
Charter Hall has upgraded its fiscal 2026 earnings per security guidance by 3 percent to A$1.03 ($0.74), a 26.5 percent increase on fiscal 2025, after securing a record A$6.5 billion in gross equity inflows, the strongest capital-raising year in the group’s 35-year history, the company said.
Funds under management rose to A$74.7 billion, up from A$71.7 billion six months earlier, with 25 new institutional investors added in 18 months. Recent activity included a new A$1.2 billion institutional mandate and the A$1.15 billion acquisition of the O’Connell Precinct in central Sydney as a new office partnership. Read more>>
Japan Regulator Urges Listed Companies to Redirect Cash Towards Growth
Japan’s Financial Services Agency is urging listed companies to redirect cash reserves towards long-term business investment rather than buybacks and dividends. Senior official Tatsufumi Shibata said executives should also consider deploying cross-shareholdings and real estate for growth.
Japanese companies tend to prioritise shareholder payouts regardless of where they stand in the growth cycle, Shibata said, adding that a shift in approach could unlock greater long-term value. Read more>>
Korea Post Eyes AI Data Centres and Multi-Family in Overseas Real Estate Push
Korea Post, which manages KRW 157 trillion ($103.9 billion) in savings and insurance funds, is seeking to invest in AI data centres, logistics and multi-family housing in North America and Europe, its president told Reuters. In-hwan Park said the state-run group sees opportunity in developed-market real estate after the pandemic-era slump.
Korea Post remains cautious on offices but is targeting secondary funds focused on data centres and logistics. Read more>>
Fairfax Family Sells Sydney Pub for $30M After 27-Year Hold
The Fairfax family has sold The Regent Hotel in Kingsford, south Sydney, to Thomas Hotels for A$42 million ($30 million) after holding the asset for 27 years. The pub sits on 2,864 square metres (30,828 square feet) at the corner of Anzac Parade and Middle Street, with 30 electronic gaming machines and 24-hour trading approval.
Colliers and JLL brokered the off-market deal. Read more>>
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