Chow Tai Fook, FEC Agree to $2.4B Brisbane Casino Deal and More Asia Real Estate Headlines

High stakes gambling leads today’s review of real estate headlines from around Asia Pacific, with a pair of Hong Kong investors reaching a $2.4 billion deal to buy a stake in a Brisbane casino after some hardball negotiations. Also making the list is more Singaporean investment in India and a return to profit for one of Hong Kong’s biggest developers.

Chow Tai Fook, FEC Agree to $2.4B Deal for Stake in Brisbane Casino

Troubled Australian casino company Star Entertainment said Tuesday that it had revived a sidelined deal with its Hong Kong-based partners to sell a half-stake in its A$3.6 billion ($2.35 billion) Brisbane resort, sending its shares soaring.

Star is selling its interest for A$53 million, of which A$45 million was paid in March. The company had cautioned that it risks collapse owing to a perfect storm of heightened regulation, lack of tourists and elevated living costs. Read more>>

CapitaLand Vows to Invest $2.2B in India’s Maharashtra State

Singapore’s CapitaLand Investment signed an agreement with the state government of Maharashtra, India to invest INR 192 billion ($2.2 billion) by 2030 to drive the company’s growth in Mumbai and Pune, the real estate asset manager said Tuesday.

The planned investments are part of a broader growth strategy for India, where CapitaLand Investment aims to increase its funds under management to S$15 billion ($11.7 billion) by 2028 from more than S$8 billion, the company said. The investments will cover business parks, data centres, logistics and industrial parks in the western state of India, where the firm has had operations since 2013, it said. Read more>>

Hong Kong’s Wharf Returned to Profit in H1

Hong Kong developer Wharf Holdings swung to a profit in the first half, supported by lower borrowing costs and a recovery in the city’s luxury housing market that offset weaker demand in its mainland China operations.

Attributable profit came in at HK$535 million ($68.2 million), reversing a HK$2.64 billion loss a year earlier, according to a filing with the Hong Kong stock exchange on Tuesday. Read more>>

Hong Kong Developer Parkview Said to Seek Extension on $940M Loan

Hong Kong developer Parkview Group is seeking a three-month extension on a $940 million loan due this Friday, in a bid to get more time to negotiate a refinancing deal with banks, according to sources familiar with the situation.

The loan, backed by the Parkview Green complex in Beijing’s Chaoyang district, is set to mature on 15 August, the sources said, asking not to be identified discussing private matters. Read more>>

Mainland Influx Driving Hong Kong Residential Rents to Historic High

Hong Kong’s rental housing market is expected to hit a record high by October, fuelled by a wave of Chinese students and professionals moving to the city.

A steady inflow of mainlanders is bolstering rents in pockets of Hong Kong, with North Point jumping 8.8 percent compared with a year ago due to its convenience in location. Read more>>

NZ’s Spark Agrees to Sell Data Centres for $347M 

Spark New Zealand finalised a deal to sell 75 percent of its data centre business to Australia-based Pacific Equity Partners for up to NZ$584 million ($346.9 million), including performance-based incentives, with the proceeds going to reducing debt.

In a filing, the operator said the deal values the business at NZ$705 million. Spark expects to receive NZ$486 million in cash, as well as NZ$98 million if it achieves certain objectives by the end of 2027. Read more>>

Australia’s CDC to Invest $270M in Perth Data Centre Campus

Australian data centre operator CDC is planning a new campus outside Perth, aiming to invest A$415 million ($270.2 million) in the first stage of the development in Maddington, 20 kilometres (12.4 miles) southeast of central Perth. The site will be operational in 2026.

The 200-megawatt campus will offer support for liquid cooling and use CDC’s closed-loop system that features zero water consumption for primary cooling. Read more>>

La Caisse Reports 4.6% Return for H1

Caisse de Depot et Placement du Quebec reported a 4.6 percent return for the first half of the year amid turmoil in equity markets, and its head is cautious about the rest of the year due to the impact of US tariffs.

The Montreal-based pension fund, Canada’s second-largest, boosted its assets under management to C$496 billion ($360 billion) as of 30 June, up C$23 billion from the end of the year. Read more>>

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