In today’s roundup of regional news headlines, data centre operator BDx launches its campus in Nanjing, Singapore’s Keppel floats a novel concept for urban development, and Hong Kong retail landlords contemplate rent hikes as the economy recovers.
Pan-Asian data centre firm Big Data Exchange (BDx) has announced the first-phase launch of its NKG Data Center Campus in Nanjing, China.
The Hong Kong-based company began construction on the site early last year. The first phase of the 35MW campus, NKG1, is now live and serving customers. The Tier III certified facility offers 4MW of capacity across 12,500 square metres (134,549 square feet). It can hold 1,000 racks and has a power usage effectiveness of 1.53. Read more>>
A floating city in Singapore may well become a reality, with Keppel Corporation exploring such nearshore urban developments.
Keppel chief executive and executive director Loh Chin Hua disclosed the idea at the World Cities Summit during a panel discussion about how cities can take the lead in responding to climate, social and technological change. Read more>>
With Hong Kong’s economic recovery gathering pace and domestic consumption improving, retail landlords have started mulling rent increases for the first time since the correction started two years ago in the wake of the social unrest.
While landlords of shopping centres and street shops seem optimistic and expect retailers to receive a boost from mainland tourists after the eventual opening of cross-border travel, tenants remain cautious, with many saying that business is yet to recover from levels before the protests started in mid-2019. Read more>>
An influx of mainland Chinese buyers into Hong Kong’s super-deluxe developments since early this year could further fuel home prices in the world’s most expensive property market, and the trend will become more obvious once the border opens.
Buyers who settled in Hong Kong from mainland China, dubbed “new Hongkongers”, have already made their presence felt in the local real estate market. They bought 38 percent of Hong Kong’s luxury homes — each priced at more than HK$100 million ($13 million) — in the first four months of 2021, 2 percentage points more than in the whole of 2020, and more than the 32.9 percent in 2019, according to data provided by Midland Realty. Read more>>
The pandemic may have devastated Singapore’s travel and tourism industry, but green financing for hotel properties has remained buoyant and experts expect even stronger investments ahead.
Major financiers and industry players indicate that sustainability efforts will likely accelerate post-pandemic, and green financing seems on an upward trajectory too. Read more>>
South Indian markets lead the pack in terms of office-leasing demand for the technology sector in the APAC region. Bengaluru has emerged as one of the top five tech centres in the APAC region, while Hyderabad is ranked in the top 10, a Colliers report said.
The report ranks the most attractive technology submarkets within major APAC cities, which should serve as a navigation tool for tech groups as they plan their expansion. Read more>>
South Korea is the fastest-growing property investment destination for Canadian investors among the Asia-Pacific countries, data showed Wednesday.
Canadian investors’ real estate transactions in South Korea from 2016 to 2020, excluding deals smaller than $10 million, came to $3.5 billion, according to data from market intelligence firm Real Capital Analytics. The figure was 12.4 times higher than it was during the previous five-year period, from 2011 to 2015, showing the sharpest uptrend among all Asia-Pacific countries. Read more>>