Li Ka-shing’s CK isn’t rushing into its BlackRock deal (Getty Images)
Li Ka-shing’s CK Hutchison reportedly hits the pause button on the group’s sale of port operations to BlackRock, with that story leading today’s headline roundup. Also in the news, Singapore’s RealVantage buys a Glasgow hotel and Sun Hung Kai’s data centre arm starts the second phase of a Hong Kong campus.
CK Hutchison Puts Brakes on BlackRock Ports Deal
Hong Kong’s CK Hutchison will not sign a deal this week to sell its two port operations near the Panama Canal to a BlackRock-led group, two people with direct knowledge of the matter said, amid growing pressure from Beijing.
China’s market regulator said it will carry out an antitrust review on the Panama port deal in accordance with law to protect fair competition and safeguard public interests, its official WeChat account showed late Friday. Read more>>
Singapore’s RealVantage Buys Glasgow Hotel for $15.5M
Singapore property firm RealVantage has joined forces with a London company to buy the Arthouse Hotel in the Scottish city of Glasgow for £12 million ($15.5 million).
RealVantage owns 85 percent of the 59-room hotel, with its British partner Oberland, a London-based real estate investor and asset manager, accounting for the rest. The deal was struck in January, and RealVantage is now overseeing extensive interior renovations, including to the hotel’s birdcage lift and other heritage aspects. Read more>>
Sun Hung Kai Data Centre Division Starts Second Phase of Hong Kong Project
SUNeVision, the technology arm of Sun Hung Kai Properties, has announced the start of construction at Phase II of its “mega campus” in Hong Kong.
Located in Tseung Kwan O, Phase II will add 350,000 square feet (32,500 square metres) to the existing facility, with completion scheduled for 2026 or 2027. Phase I was launched last year, delivering 50 megawatts of capacity across 500,000 square feet. Read more>>
CoStar Closes in on $1.8B Buy of Australia’s Domain
Nine Entertainment-controlled real estate listing company Domain has struck an exclusivity deed with US property behemoth CoStar Group, advancing the A$2.8 billion ($1.8 billion) takeover that will put the target company in offshore hands.
The US company will now enter due diligence for four weeks on a deal that could reshape both the property classifieds market and the media landscape as Nine redeploys the A$1.4 billion it expects to reap from the sale of the business that has struggled since it listed. Read more>>
Star Entertainment’s Sydney Casino Licence Suspended Through September
The New South Wales Independent Casino Commission has confirmed that Star Entertainment Group’s Sydney casino licence will remain suspended for at least another six months, with oversight by the NICC-appointed independent manager, Nick Weeks, continuing through 30 September.
The decision follows a review of submissions from both Star and Weeks regarding the company’s suitability to regain its licence. Star agreed that the manager should remain in place while it continues its remediation process and works to stabilise its financial position. Read more>>
Singapore Prime Office Rents Stay Flat as Occupiers Remain Cautious
Grade A central business district rents flatlined for the fourth straight quarter as global volatility and trade tensions kept multinational corporations in a holding pattern. In the first quarter of 2025, rents inched up 0.5 percent to S$11.60 ($8.65) per square foot per month, JLL said.
The marginal quarterly increase followed that of the fourth quarter, which was 0.4 percent. Rents were flat in the third quarter and rose 0.7 percent in the second. Read more>>
Shui On Says Debt Pressure Eases as Sales Improve
Shui On Land said its debt payment has passed its peak and saw signs that the mainland property market is recovering gradually. The developer said it has RMB 8.3 billion ($1.1 billion) worth of loans due this year and so far has repaid RMB 5.6 billion.
Chairman Vincent Lo expects the Chinese property sector to recover in a gradual manner under the supportive measures rolled out by mainland governments and positive signals from the top policymakers in Beijing. Read more>>
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