Bain, CPPIB Near Close of RMZ $750M Fund and More APAC Real Estate Headlines

In today’s review of real estate news from around the region, Bain Capital and CPPIB near the final close of a fundraise for India’s RMZ Group, a Sino Land-led consortium clinches Hong Kong’s most competitive rail-plus-property tender in years, and OUE REIT posts a standout first quarter on the back of strong hospitality growth and its new Sydney foothold.

Bain and CPPIB Near Final Close of RMZ Group’s $750M Fundraise

Bain Capital and the Canada Pension Plan Investment Board are in the final stages of a fundraise for Bangalore-based RMZ Group targeting between $500 million and $750 million, according to Moneycontrol. 

The fundraise forms part of RMZ’s broader plan to deploy over $35 billion across real estate and digital infrastructure in India over the next five years, including a partnership with CPPIB within its office portfolio. Read more>>

Sino Land-Led Consortium Wins Tender for $1.7B New Territories Project

A consortium led by Sino Land, alongside state-backed China Overseas Land & Investment and China Merchants Land, has won the tender for the Kam Sheung Road Station Phase Two development in Hong Kong’s New Territories. The group, which also includes Great Eagle Holdings, plans to invest more than HK$13 billion ($1.7 billion) to build a mixed-use residential and retail complex.

The project will feature a maximum residential gross floor area of 71,338 square metres (767,882 square feet) and up to 40,763 square metres of commercial space. The consortium beat seven rival bids from CK Asset Holdings, Henderson Land Development, Sun Hung Kai Properties and Wheelock Properties. Read more>>

Vanke Wins Backing for Bond Delay Plan, Easing Default Risk

China Vanke has secured enough creditor support to delay payment on an onshore bond due on 23 April, according to Bloomberg, easing the distressed developer’s risk of imminent default. The terms follow Vanke’s earlier playbook of repaying 40 percent of principal upfront while deferring the remainder by one year.

The reprieve buys time as the company works towards what could be one of China’s largest-ever debt restructurings. Vanke has been steadily negotiating extensions across multiple domestic bonds since late 2025, amid a prolonged liquidity crisis rooted in China’s property downturn. Read more>>

Hillhouse Taps Investors, Own Cash in Bid to Raise $8B

Hillhouse Investment Management is returning to the fundraising market after a five-year hiatus, targeting $8 billion across a new Asia-focused buyout fund and a growth strategy vehicle, Bloomberg reports. The firm is targeting $7 billion for the buyout fund and $1 billion to $1.5 billion for the growth strategy, with Hillhouse itself contributing between $1 billion and $2 billion.

Founder Zhang Lei and co-chief investment officer Michael Yi outlined the plans during a March webinar, with a first close potentially targeted for October. The firm is engaging backers including Middle East investors, endowments and family offices. Read more>>

Marprop Sells Police Training Facility in Canberra for $62M

Sydney-based fund manager Marprop has divested the Australian Federal Police College at 9 Brisbane Avenue in Barton, Canberra, for A$86 million ($61.6 million) to an Australian Capital Territory property syndicate led by Aegis Capital. The deal reflects a passing yield of 5.73 percent on the 10,252 square metre (110,352 square foot) property, which the AFP has occupied since 1979.

Marprop acquired the property in 2021 for A$60.5 million. The AFP recently extended its lease at the site for a further nine years to June 2036, and the sale marks the first long weighted average lease expiry transaction in Canberra’s parliamentary precinct since 2022. Read more>>

China Merchants Shekou Pays $923M for Two Shanghai Residential Sites

China Merchants Shekou acquired two Shanghai residential sites on 21 April. In Xuhui, it paid RMB 3.3 billion ($483.8 million) after 82 bids, implying a 25 percent premium and RMB 87,000 per square metre floor price, reflecting strong competition among nine developers.

In Putuo, a consortium including China Merchants Shekou secured a second site for RMB 3.029 billion at reserve price, with a floor price of RMB 62,077 per square metre, indicating more measured demand outside core locations. Read more>>

Wu Family’s Causeway Bay Building Biz Aura Listed as Mortgagee Sale at $511M

A Causeway Bay commercial building held by the family of Wu Zhike, founder of Chun Fai Group, has emerged as a mortgagee sale through public tender, carrying an asking price of HK$4 billion ($510.8 million). The property will be sold with existing tenancies in place.

The 36,100 square foot (3,354 square metre) building at 13 Pennington Street was purchased by the Wu family in 2010 for HK$390 million and converted from a hotel to offices. Colliers, JLL and Jumbo Capital are handling the tender, which closes on 9 June 2026. Read more>>

OUE REIT Posts 8.4% Rise in Q1 NPI to $45M on Hospitality Surge

OUE REIT posted a net property income of S$57.6 million ($45.2 million) for the first quarter of 2026, an 8.4 percent rise year-on-year, driven by strong growth in its hospitality portfolio and resilient commercial performance, the trust’s manager said. Revenue rose 6.7 percent to S$70.5 million over the same period.

The hospitality segment led the gains, with NPI rising 16.8 percent year-on-year to S$24.3 million, supported by events including the Singapore Airshow and the maiden voyage of the Disney Adventure cruise ship. OUE REIT’s Singapore office portfolio maintained a committed occupancy of 95.2 percent, while the REIT completed its A$357.2 million ($255.5 million) acquisition of a 19.9 percent stake in Sydney’s Salesforce Tower in March. Read more>>

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