Sherman Kwek, chief executive of City Developments Ltd (Image: CDL)
In today’s review of real estate news from around the region, City Developments Ltd reports a quieter quarter for Singapore property sales as Newport Residences leads its latest launches, Hong Kong’s Sogo operator races to refinance a $861.8 million loan with less than a month to spare, and a veteran UBS analyst declares that China’s property slump is finally turning a corner.
CDL Q1 Property Sales Decline to $476M
City Developments Ltd sold 242 units worth S$609.6 million ($476.4 million) in the first quarter of 2026, down from 795 units worth S$1.9 billion a year earlier. The January launch of freehold Newport Residences drove activity, averaging S$3,200 per square foot with 78 percent sold, the company said.
Global hotel RevPAR rose 4.3 percent to S$144.80, led by Australasia, Singapore and Europe. CDL held S$2.1 billion in cash reserves, backed by S$4.3 billion in cash and undrawn facilities. Read more>>
Sogo Operator Races to Refinance $862M Loan With Less Than a Month to Go
Lifestyle International Holdings, operator of Hong Kong’s Sogo department stores, has less than a month to refinance a loan coming due, according to people familiar with the matter. The company still needs to secure HK$2 billion ($255.3 million) to meet its refinancing target of HK$6.75 billion, with bank negotiations stretching over four months.
The situation adds Lifestyle to a growing list of Hong Kong firms pushed into last-minute talks following the city’s property downturn. Read more>>
Veteran UBS Analyst Says China Home Prices Set to Stabilise
UBS real estate analyst John Lam, who flagged problems at China Evergrande ahead of his peers, now believes that China’s prolonged property downturn is turning a corner. Lam, who turned bearish last year as home prices fell, expects prices in major cities to stabilise, used home sales to rise and share prices of select developers to soar.
His view aligns with government signals that targeted stimulus measures are beginning to take effect in the residential market. Read more>>
Mapletree Logistics Trust Revenue Dips 2.6% as Portfolio Rejuvenation Continues
Mapletree Logistics Trust reported gross revenue of S$708.3 million ($553.4 million) for its fiscal year, down 2.6 percent, as divestments and currency weakness offset acquisition gains. Occupancy held at 96.9 percent across 175 properties in nine markets, the trust said.
MLT has earmarked S$1 billion for divestment — about half from China and Hong Kong — and acquired a Grade A warehouse in Mumbai for S$53.2 million, fully leased to two listed food delivery firms. Read more>>
Guangzhou R&F Faces Court Action Over $43M Chongqing Loan Default
Guangzhou R&F Properties disclosed that a Chongqing creditor has sued its local subsidiary over an unpaid loan, with claims totalling RMB 310 million ($45.6 million). The plaintiff is seeking repayment of principal, interest and penalties, the company said.
The creditor is also seeking a lien over two land parcels in Chongqing’s Shapingba district to secure the debt. The case is before the court of first instance and no judgment has been issued. Read more>>
Goldman Sachs Raises Hong Kong Home Price Forecast to 15% Growth in 2026
Goldman Sachs has raised its Hong Kong residential price growth forecast for 2026 from 12 percent previously to 15 percent, citing better-than-expected gains in home values and office rents, according to the bank. Residential prices are up 8 percent year-to-date, and new home sales volume has surged 48 percent.
In the office sector, the bank lifted its rental growth forecast to 3 percent for the full year, with core Central upgraded from 3 percent to 10 percent. Its 2027 and 2028 forecasts remain at 7 percent and 4 percent. Read more>>
Morgan Stanley Warns of 10% Drop in Aussie Home Prices After Tax Changes
Morgan Stanley has warned that Australian home prices could fall 5 to 10 percent following the federal budget’s axing of negative gearing and tougher capital gains tax rules. The bank cited housing weakness as a key driver of a broader economic slowdown expected in the second half of 2026.
Chief economist Chris Read said the changes fundamentally alter household asset allocation, reducing returns and borrowing capacity for investors who make up around a third of marginal demand. Read more>>
Marriott, Fern Hotels Reach 75 Signings and 50 Openings for India Brand in Six Months
Marriott International and Concept Hospitality’s The Fern Hotels and Resorts have reached dual milestones for Series by Marriott in India, with 75 hotels signed and 50 open since the brand’s November 2025 launch.
The 50 properties bring over 3,556 rooms to Marriott’s India portfolio across 43 cities. Senior vice president Kiran Andicot credited the conversion-friendly model backed by Marriott Bonvoy, describing India as the brand’s global growth foundation. Read more>>
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