Guo Jin, chief investment and asset management officer of China Merchants Commercial REIT
The growing appeal of Hong Kong’s student housing market leads today’s look at real estate headlines from around Asia Pacific, with a hotel in the Tsim Sha Tsui area snatched up to provide more beds for scholars from out of town. “Pig butchering” also makes the list as Hong Kong authorities seize assets from an alleged scammer, and SoftBank is making another attempt at an IPO for India’s Oyo Hotels.
China Merchants REIT Buys Hong Kong Hotel for $26M in Student Housing Play
The manager of China Merchants Commercial REIT announced to the Hong Kong stock exchange on 29 December that it has agreed to purchase the Austin Avenue Hotel in Hong Kong for HK$205.9 million ($26.4 million).
The REIT managed by Shenzhen’s China Merchants Land is understood to have plans to convert the 29-unit hostelry next to Hong Kong Polytechnic University in the Tsim Sha Tsui area for use as student housing. Read more>>
Hong Kong Police Freeze $350M in Assets Tied to Alleged Cambodia Scam Kingpin
Recently sanctioned Chinese-born Cambodian businessman Chen Zhi has been linked to a network of entities in Hong Kong, with the move triggering regulatory measures and prompting auditors and directors to quit those firms.
Company documents reviewed by the South China Morning Post reveal an interconnected group of firms sharing directors and addresses tied to Chen, luxury real estate and previously appointed international business figures, raising questions about the depth of his operations in Hong Kong and the potential exposure of associated entities. Read more>>
SoftBank-Backed Oyo Hotels’ Parent Firm Files for $742M India IPO
Oyo Hotels parent Prism has confidentially filed for an initial public offering in India, three people familiar with the matter told Reuters on Wednesday, marking a fresh push by the homegrown hospitality brand to tap public markets.
The confidential filing comes days after the SoftBank-backed firm received shareholders’ approval to raise up to $742 million via a fresh issue of shares. One person said the company is seeking a valuation of $7 billion to $8 billion. Read more>>
Hong Kong Arrests 21 People for Corruption Linked to Fatal Residential Fire
Hong Kong’s anti-graft agency arrested 21 people on suspicion of corruption in relation to renovation work at two residential estates, it said Friday.
Hong Kong has stepped up a crackdown on corruption linked to building renovation after a fire in late November that ripped through seven high-rise towers and killed more than 160 people. John Lee, the city’s leader, last month set up an independent committee to investigate the fire and the construction industry, as well as determine whether there was any bid-rigging in the award of contracts. Read more>>
Hong Kong Housing Site Draws 8 Bids
A residential site in Hong Kong’s Jordan Valley drew eight bids when the tender closed at noon on Friday, the city’s Lands Department said.
Henderson Land Development, Sun Hung Kai Properties, K Wah International, Kerry Properties and CK Asset were said to have submitted their bids for the plot. New Kowloon Inland Lot 6674 at Choi Hing Road in Kowloon has a site area of 3,830 square metres (41,226 square feet) and is designated for non-industrial purposes. Read more>>
Katong Residential Site on the Market in Singapore
A residential site in Singapore’s Katong area is on the market with prospects for a boutique residential project on the location between East Coast Park and East Coast Road.
The 11,956 square foot (1,111 square metre) site at 17 Seraya Road is zoned to allow for development of up to 16,738 square feet of housing by gross floor area and is less than 15 minutes’ walk from Marine Parade MRT station. Read more>>
Seoul Apartment Prices Rose an Average 8.7% in 2025
Seoul apartment prices rose by 8.7 percent in 2025, marking the highest increase in 19 years, according to data from the Korea Real Estate Board. Despite continued strong regulations from the government, demand in Han River Belt areas such as Songpa, Seongdong and Mapo drove the overall price surge.
Seoul apartment prices rose by 0.21 percent compared with the previous week during the fifth week of December, maintaining the prior week’s upward momentum, the board said. Read more>>
Keppel REIT Investment in Singapore’s MBFC Restricted by Leverage Cap
Keppel REIT, which recently bought a one-third stake in Marina Bay Financial Centre Tower 3 from Hongkong Land for S$1.45 billion ($1.1 billion), was keen to snap up even more of the Grade A commercial project, but it was held back as its gearing neared the regulatory limit.
The acquisition brought Keppel REIT’s pro forma aggregate leverage up to 49.9 percent, which is just below the Monetary Authority of Singapore’s limit of 50 percent. 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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