GIC chief executive Lim Chow Kiat
Mini-sheds lead today’s look at real estate news from around the region as Brookfield and GIC are said to be organising nearly $2 billion in financing for their purchase of Australia’s National Storage REIT. Also making headlines are Centennial’s purchase of a Sydney warehouse and Singapore’s housing market going quiet on a dearth of project launches.
Brookfield, GIC Seek $2B Loan for National Storage REIT Buy
Brookfield Asset Management and Singapore’s GIC are seeking a A$2.77 billion ($1.96 billion) loan to back the purchase of Sydney-listed National Storage REIT, according to people familiar with the matter.
Half a dozen banks — including DBS, National Australia Bank and UOB — have been appointed as underwriters for the borrowing, which comprises several tranches split across three- and five-year tenors, said the people, who asked not be identified discussing private matters. Read more>>
Sydney Fund Manager Centennial Buys Wetherill Park Warehouse for $30M
Centennial Property Group has closed out its A$780 million Enhanced Value Partnership fund after spending A$42.1 million ($29.8 million) on an industrial site in Sydney’s central west.
The Sydney-based fund manager acquired the 7,500 square metre (80,729 square feet) warehouse in Wetherill Park in an off-market transaction, with the property fully leased to wheelchair maker Sunrise Medical until early 2027. The site includes 8,000 square metres of land with development approval in place for a multi-tenanted industrial estate with a completion value of A$74 million. Read more>>
Singapore New Home Sales Dip 57% as New Launches Drop
Developers sold 466 private homes (excluding executive condominiums) in Singapore in January, down 57 percent from the year-ago period, as 2026 opened with two projects launched in the first month.
January sales were up 136 percent from the 197 units sold in December, according to data released Monday by the Urban Redevelopment Authority. Read more>>
Singapore’s OUE to Book Loss on China Holdings
Singapore developer OUE expects to book a net loss for 2025, the group said Friday in a stock filing.
The expected losses are mainly due to the share of results of equity-accounted investees, which are the estimated losses from Gemdale Properties and Investment Corporation. The investee company, which is 29.07 percent owned by OUE, has business in China and was hurt by the ongoing property market slowdown and the current economic environment in the country. Read more>>
Henderson Land Boss Sues Hong Kong Movie Star Over Romance Rumours
Martin Lee, chairman of Hong Kong’s Henderson Land Development, has taken an actress to court over allegedly defamatory remarks that suggested they had an illicit relationship, while also seeking damages from US tech giant Google and five YouTube channels for failing to remove “false” content.
The 54-year-old mogul on Friday sued Chrissie Chau in the High Court for allegedly spreading baseless and malicious rumours about their “relationship” for personal fame. Read more>>
Singapore’s Centurion Eyes Middle East Expansion
2025 was a landmark year for Singapore property player Centurion Corp, marked by the listing of its accommodation trust in one of the SGX’s biggest initial public offerings of the year.
The group is now laying the groundwork for its next growth phase: its first foray into the Middle East. The region is ripe with opportunity, given its heavy reliance on migrant labour and largely expatriate workforce, Centurion CEO Kong Chee Min told the Business Times. Read more>>
Phoenix Mills in Talks to Raise $170M for Thane Project
Phoenix Mills, India’s largest mall operator, is looking to raise INR 15 billion ($170 million) for its upcoming mixed-use project in Thane near Mumbai and is in discussions with investors including Singapore sovereign giant GIC, the Canada Pension Plan Investment Board and other potential backers, according to sources familiar with the matter.
The talks are ongoing and are expected to be finalised soon, a source said. Given Phoenix Mills’ existing partnerships with GIC and CPPIB, the two funds are seen as preferred partners, though the developer is also engaging with other investors, the sources said. Read more>>
Melbourne Builder Goldfields Wins Approval for Richmond Project With Dexus
Goldfields Property Development has secured permit approval and appointed residential builder Ironside to begin work on The Brightly, an 11-storey, wellness- and lifestyle-focused mixed-use development in Melbourne’s inner suburb of Richmond.
Goldfields partnered with Dexus Real Estate Partnership Fund 1 as co-investor and delivery partner on the Brighton Street project. The Brightly will feature 100 apartments, a resident-only wellness space, a private dining room, a rooftop garden lounge and ground-floor retail. 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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