William Huang, chairman and chief executive of GDS Holdings also chairs DayOne
Chinese data centre operators may be ready for a return appearance on US stock markets, with the story of GDS boss William Huang’s DayOne picking banks for a $5 billion US IPO leading Mingtiandi’s news roundup today. Also making the list is a US logistics specialist making its first Japanese acquisition and a New Zealand investor buying a Singapore cold chain operator.
GDS’ DayOne Data Centres Said Picking Banks for $5B US Stock Listing
DayOne Data Centers Ltd. has selected banks to help arrange a US initial public offering that may raise about $5 billion, according to people familiar with the matter.
The Singapore-based data center operator has chosen JPMorgan Chase & Co. and Morgan Stanley to work on the share sale, the people said, asking to not be identified because the information is private. Bank of America Corp. and Citigroup Inc. are also working on the deal, the people said. DayOne, backed by Chinese data center operator GDS Holdings Ltd., has been targeting a valuation as high as $20 billion in a listing that may take place as soon as this year, people familiar with the matter have said. Read more>>
Cabot Properties Buys Osaka Warehouse as First Japan Investment
Logistics real estate specialist Cabot Properties has announced its entry into the Japanese market with the acquisition of a warehouse in Osaka’s Kansai region. The four-storey property in Minoh City, completed in 2021, spans 20,502 square metres (220,682 square feet) and is operating at full capacity.
Cabot’s new shed is located in Minoh Logistics Park, within 25 kilometres (15.5 miles) of central Osaka. Having invested more than $17 billion in logistics real estate globally, Cabot has made its first Japanese acquisition after opening an office in Sydney in 2020. Read more>>
Kiwi Infrastructure Manager Morrison Buys Singapore Cold Chain Operator
New Zealand infrastructure investment firm Morrison this week announced its establishment of Polaris, an APAC cold chain platform, through the completion of its acquisition of SuperFreeze Singapore, a cold chain logistics provider serving the food and pharmaceutical sectors.
The acquisition includes an automated cold storage facility in Tuas, with Morrison pointing to Singapore’s heavy reliance on imported food, and the refrigerated storage it requires, in explaining the rationale for the deal. Read more>>
Japan’s Hulic Invests in Mitsui Logistics Project in Las Vegas
Hulic Co Ltd announced Thursday that it has invested in a Las Vegas logistics facility operated by Mitsui & Co’s MBK Real Estate unit.
The 7,880 square metre (84,820 square foot) warehouse facility is at 6535 East Tropical Parkway in Las Vegas and was completed in 2024. Hulic previously invested in four MBK senior housing facilities in the US. Read more>>
Keppel DC REIT Completes Purchase of Singapore Data Centre Stakes
Keppel DC REIT announced Thursday that it has completed its purchase of a 10 percent interest in Keppel DC Singapore 3 and a 1 percent interest in Keppel DC Singapore 4 from Keppel Ltd, following up on a December agreement.
The SGX-listed REIT paid a total cash consideration of S$50.5 million ($39.2 million) for the interests in the data centres in Tampines Industrial Park and now holds 100 percent of the two properties. Read more>>
China Second-Hand Home Prices Fell More Slowly in January
China’s second-hand home prices fell at a slower pace in January, providing a glimmer of hope that the prolonged property crisis is easing.
Resale home prices in 70 cities dropped 0.54% from December, the smallest decline in eight months, figures from the National Bureau of Statistics showed on Friday. Values of new homes, excluding state-subsidized housing, slid 0.37%, the same pace as a month earlier. Read more>>
China’s JD Launches European Express Delivery Service
JD.com announced this week that it will launch JoyExpress, an express delivery service under its Jingdong Logistics unit, in March of this year, with operations in Britain, Germany, the Netherlands and France.
JoyExpress will support JD’s JoyBuy European e-commerce platform while leveraging the group’s more than 60 warehouses and depots across Europe, the company said. Read more>>
China Pushes State-Owned Companies to Buy Foreclosed Properties
Chinese state-owned companies are buying foreclosed property projects, in a sign that long-promised government efforts to reduce massive oversupply in the crisis-hit housing sector are finally getting traction, albeit at a slow pace.
Analysts say the involvement of state firms may cushion the pace of further home price falls and ease the drag that the property slump has had on China’s economic growth since 2021. But they say it could also prolong the process of the housing market finding a bottom, as distressed assets change hands at deep discounts instead of being fully written off. Read more>>
Singapore’s CDL Puts Brisbane BTR Project on the Market
After entering Australia’s evolving build-to-rent sector with much fanfare three years ago, Singapore-listed real estate conglomerate City Developments Ltd is marketing one of the two sites it had earmarked for its debut.
CDL had acquired the 1,571 square metre (16,910 square foot) site at 58 High Street in Toowong in 2022 for A$12 million (now $8.5 million), with approval in place for a 26-storey, 326-apartment build-to-rent scheme. The Singaporean developer has engaged Knight Frank and CBRE to market the undeveloped plot. Read more>>
Sun Hung Kai Said Marketing IFC Cinema in Hong Kong
Hong Kong could see another cinema shut down in a prime retail district after the management of IFC Mall began informally sounding out potential tenants for the roughly 20,000 square feet (1,858 square metres) occupied by Palace IFC, whose lease expires at the end of the year, according to people familiar with the matter.
Sun Hung Kai Properties, which manages the mall in Central, had been reaching out to select industry contacts to explore options as the struggling cinema business had generated weaker foot traffic, the people said. 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.
Leave a Reply