ESR Plans $1B Data-Logistics Centre in Japan Casino and More Asia Real Estate Headlines

Hong Kong-listed ESR is ready to help Japan take its integrated resorts to the next level as news of plans by the company to build a combined data centre and warehouse facility in a Nagasaki casino project leads today’s headline roundup.

Also in the news today, a Keppel managed REIT has agreed to buy office properties in Nashville and Denver to add to its US portfolio and India’s Everstone is ready to kick off a data centre initiative with a project in Mumbai.

ESR Ready to Build $1B Data Centre, Logistics Project in Japanese Casino

Hong Kong-listed ESR is ready to work with a Japanese investment consortium which is one of three candidates to develop an integrated resort in Nagasaki, Japan. The logistics specialist proposes to build a US$1 billion data and logistics center in the region should Niki Chyau Fwu (Parkview) Group’s bid for the project prove successful.

Just days after the company added 10 local partners to its Nagasaki IR consortium, NIKI revealed its latest agreement with ESR, a logistics platform listed on the Hong Kong Stock Exchange in 2019. According to NIKI, should it win selection by Nagasaki and Japan’s central government to develop an IR in Sasebo City, ESR would build the data center nearby with the goal of creating “new economy infrastructure” for the prefecture. Read more>>

Keppel Pacific Oak US REIT to Buy Nashville, Denver Assets for $105M

Keppel Pacific Oak US Reit (KORE) is proposing to acquire two office assets in the US for a total of US$105.1 million, the Reit manager announced on Wednesday morning.

The properties are Bridge Crossing in Nashville, Tennessee, and 105 Edgeview in Denver, Colorado. They will be purchased for US$46 million and US$59.1 million, respectively. Both are 100 per cent leased to tenants in the technology sector as at June 30, 2021. Read more>>

India’s Everstone Forms India Hyperscale Data Centre JV

Data center firm Yondr Group has formed a joint venture with private investment firm Everstone Group to develop data centers in India. Operating under the brand name EverYondr, the first facility located in the Mumbai Metropolitan Region,

Land and power for the development have already been acquired, and the data center will deliver 30MW by 2023 and 60MW of IT capacity when fully developed. Read more>>

Hong Kong Home Prices Flat in June After Months-Long Rally

Hong Kong home prices were flat in June after reaching a two-year high, as buyers stayed on the sidelines, apparently taking a breather after months of rising prices buoyed by low-interest mortgage rates and a rebounding economy.

An index measuring the prices of second-hand homes stayed at 394.5, data from the Ratings and Valuation Department shows, just a whisker below the previous peak of 396.9 in May 2019. Read more>>

Pasir Panjang Homeowners Try Again for Collective Sale as SG Market Heats Up

The owners of Flynn Park are taking a second stab at a collective sale of the 72-unit freehold condominium, after its first tender in June 2018 ended without a buyer.

The site, which is about 350m from Pasir Panjang MRT station, has a land area of about 208,443 sq ft. It is zoned for residential use with an allowable gross plot ratio of 1.4 under the Urban Redevelopment Authority’s (URA) 2019 Master Plan. Read more>>

Oxley Completes Pair of Singapore Projects

Real estate developer Oxley Holdings on Tuesday announced that it obtained temporary occupation permits (TOP) for two more Singapore residential development projects, Sea Pavilion Residences and Sixteen35 Residences, last month.

Including private condominium The Addition, which obtained its TOP in April, three out of the group’s 10 residential development projects in Singapore have obtained TOP. Read more>>

Shenzhen Home Prices Drop 15% After Govt Policy Moves

Home prices in Shenzhen, mainland China’s most expensive residential property market, have finally declined, falling by as much as 15 per cent, after about 300 rounds of cooling measures were introduced across the country in the first six months of the year.

Towards the end of June, the average price of a second-hand home stood at 61,500 yuan (US$9,488) per square metre, or about 15 per cent below a peak of 72,436 yuan per square metre recorded in January this year, according to E-House China R&D Institute. Read more>>

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