CICT Closes on $810M CapitaSpring Deal in Singapore and More Asia Real Estate Headlines

A pair of Singapore consolidations lead today’s review of real estate news from around Asia, as a CapitaLand-managed REIT completes its purchase of the remaining stake in the CapitaSpring tower and Frasers Property buys the remaining units in a suburban shopping complex from a trust under its supervision. Also making the news is word of GIC talks with Goodman on data centre investment.

CICT Completes $810M Buy of CapitaSpring Stake in Singapore

The manager of SGX-listed CapitaLand Integrated Commercial Trust announced Tuesday that it has completed the purchase of a 55 percent stake in the commercial component of Singapore’s CapitaSpring in a deal first announced earlier this month.

The REIT managed by CapitaLand Investment had agreed to pay S$1.05 billion ($810 million) to take full ownership of the 51-storey tower from joint venture partners CapitaLand Development and Mitsubishi Estate. Read more>>

Frasers Property Buying Remaining Space in Suburban Shopping Complex From REIT

Frasers Property is proposing to buy the remaining properties at the Yishun 10 complex that it does not yet own from Frasers Centrepoint Trust.

This comes after Frasers Property, FCT’s sponsor, acquired a cinema at the shopping and entertainment development from Golden Village Multiplex earlier this year. Read more>>

Singapore’s GIC Said Exploring Data Centre Tie-Up With Goodman

Singapore sovereign wealth fund GIC is considering a proposal to invest in data centre assets owned by Australian property firm Goodman Group, the Australian Financial Review reported.

Dealmakers at GIC have in recent weeks discussed options with Goodman’s internal team over a potential investment in part of its data centre portfolio, the AFR reported, citing unidentified sources. The talks were at an early stage and no agreement has been reached, according to the report. Read more>>

Hong Kong’s Pure Fitness Gets $50M Lifeline

Pure, the Hong Kong gym chain frequented by the city’s financial elite, has secured commitments for new funding to help it pay down debt, according to people familiar with the matter.

The gym operator, which tends to lease large spaces in premium locations in the city, is set to receive more than $50 million from investors including Primavera Capital and some existing shareholders, such as FountainVest Partners, as soon as paperwork is completed, the people said. Read more>>

Swire Prices Eastern Hong Kong Project at 11-Year Low

Hong Kong’s Swire Properties has priced the first 120 units of a new residential project in Chai Wan at an average of HK$17,565 ($2,249) per square foot, an 11-year low for Hong Kong island’s Eastern district, according to agents.

The price list, released Tuesday, covers more than a fifth of the 592 units in the second and third towers of the Headland Residences. The average discounted price for the Swire project was lower than the first list for units in New World Development’s State Pavilia project in North Point, which was released in February. The price was an eight-year low for the Eastern district. Read more>>

Wing Tai Trims Half-Year Loss to $55M as Revenue Rises

Singapore-listed developer Wing Tai narrowed its net loss in the second half of fiscal 2025 to S$71.1 million ($55.1 million) from S$99.2 million a year ago.

Revenue jumped 64.4 percent year-on-year to S$117.5 million, the group said. The revenue growth was due to higher contributions from development properties, in particular the progressive sales from The LakeGarden Residences in Singapore and Jesselton Hills in Malaysia. Read more>>

Malaysia’s IOI Sets Up Manager for KLSE-Listed REIT

IOI Properties Group has incorporated a new wholly-owned subsidiary, IOIPG REIT Management, to serve as the proposed management company for a REIT the group is planning to establish and list on the Main Market of Bursa Malaysia.

In a filing with Bursa Malaysia, IOIPG said the proposed REIT establishment and listing remain subject to several conditions, including assessment of the suitability and valuation of properties to be injected, as well as the finalisation of the REIT structure and its terms. Read more>>

OUE Bayfront JV Nabs $465.5M Green Loan in Singapore

The manager of OUE REIT announced to the Singapore Exchange on Wednesday that its joint venture company holding the OUE Bayfront office complex has secured a S$600 million ($465.5 million) green loan facility.

OUE Allianz Bayfront, a joint venture with Pimco Prime Real Estate, obtained the facility from a club of banks with DBS and OCBC having served as joint coordinators for the green loan. Read more>>

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