Metro Holdings CEO Yip Hoong Mun
Preparations for a Singapore industrial REIT lead today’s look at real estate news from around the region as Macquarie Asset Management consolidates ownership of the REIT portfolio ahead of an IPO. Also making the list are a Hong Kong land sale and an Aussie REIT buying a half-stake in a Sydney shed.
Macquarie’s UIB REIT Buys Out Metro Fund Stake for $158M
Singapore’s Metro Holdings announced Tuesday that it has agreed to sell its 26 percent stake in a portfolio of industrial properties to Macquarie Asset Management-controlled Boustead Industrial Fund amid preparations for a Singapore-listed REIT.
The deal values the set of 15 properties at S$766 million, with Metro set to receive S$199 million ($157.6 million) for its stake in Boustead Singapore-managed funds holding the assets. Also Tuesday, Boustead Singapore announced that UIB Holdings Ltd, a Macquarie-controlled fund manager, had received an eligibility-to-list letter from the Singapore Exchange for its SGX-listed REIT. Read more>>
China Overseas Land Wins Hong Kong Condo Project With $230M Bid
Hong Kong-listed mainland Chinese developer China Overseas Land & Investment won a bid for a 3,132 square metre (33,712 square feet) residential plot in Kowloon East, beating some of the city’s largest developers with a higher-than-expected tender.
The state-backed developer beat eight rivals to secure a 50-year grant for the parcel in Ngau Tau Kok with its bid of HK$1.8 billion ($230 million), according to a statement from the Lands Department on Tuesday. The site is expected to yield 470 homes. Read more>>
Dexus REIT Buys Half-Stake in Sydney Industrial Property for $35M
Dexus Industria REIT announced Tuesday that it has acquired Dexus’s remaining 50 percent stake in 12 Church Road in Moorebank, New South Wales, for A$49.6 million ($35.3 million), consolidating full ownership of the Sydney industrial asset. The deal implies a 5.25 percent cap rate and matches the December 2025 valuation.
The small-unit estate is 63 percent occupied with a 2.8-year weighted average lease expiry. Funded by existing debt, the acquisition lifts gearing by 2.3 points but keeps it below target. Read more>>
Malaysia’s Khazanah Reports 5.2% Return for 2025
Malaysian sovereign wealth fund Khazanah Nasional on Tuesday reported higher operating profits, with its investment portfolio seeing a return of 5.2 percent in 2025, weathering uncertainties arising from US tariffs and geopolitical risks.
Khazanah is a major shareholder in some of Malaysia’s biggest companies, including its second-largest lender, CIMB Group, power utility Tenaga Nasional and the Malaysia Aviation Group, the national carrier. Read more>>
Singapore’s City Plaza Could Go on the Market for $768M
Owners at City Plaza, a freehold mixed development in Geylang, are edging closer to the 80 percent mandate required to launch a third collective sale attempt with the reserve price set at S$970 million ($768.2 million), the Business Times has learned.
The development’s collective sale committee has secured 78.37 percent support from owners by strata area and 76.57 percent by share value — putting it within reach of the threshold needed to formally launch the en bloc process. Read more>>
Wing Tai Net Profit Surges on Singapore Condo Sales
Property and retail company Wing Tai recorded a net profit of S$40.3 million ($32 million) for its first half to the end of 2025, up sharply from S$10.1 million in the year-ago period.
Earnings per share for the half-year stood at S$0.0528, up from S$0.0132. Revenue jumped 140 percent to S$270.2 million. Wing Tai in a bourse filing on Tuesday attributed the surge mainly to a higher contribution from development properties in Singapore. Read more>>
LaSalle Logiport REIT Completes Northern Japan Warehouse
Tokyo-listed Logiport REIT said Tuesday that it has completed Sendai Izumi Logistics Center, a 49,912 square metre (537,248 square foot) warehouse in northern Honshu island’s Miyagi prefecture.
The trust sponsored by LaSalle Investment Management had agreed to acquire the four-storey property in 2023, with the logistics property now more than 86 percent leased, per the stock exchange announcement. Read more>>
Former Advance Business Park London Project Sold
Colliers announced this week that it has brokered the sale of an office portfolio on East London’s Royal Albert Dock for an undisclosed sum.
The office portfolio was the product of what had been planned as a $1.5 billion redevelopment project awarded to Beijing-based Advance Business Park in 2013, with the scheme having stalled after losing financing in 2015. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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