William Huang, chairman and chief executive of GDS Holdings
In today’s review of real estate and capital markets news from around the region, Singapore data centre operator DayOne seeks to boost a loan to a record $7 billion ahead of a US IPO, while Canada’s CPPIB explores a $1.5 billion secondary sale of Asia private equity stakes. Elsewhere, Tang Organization launches a strategic review of SGX-listed Suntec REIT as the trust’s new sponsor.
DayOne Seeks to Boost Loan to Record $7B Ahead of Planned US IPO
Singapore-headquartered DayOne Data Centers is seeking to boost a loan facility to a record $7 billion ahead of a planned US IPO, Bloomberg reported. The GDS Holdings spin-off closed a $2 billion Series C funding round in January and is working with Bank of America, Citigroup, JPMorgan and Morgan Stanley on the offering.
DayOne operates data centres in Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Tokyo and Finland, with customer commitments approaching 1 gigawatt. Backers include SoftBank Vision Fund, Coatue and Hillhouse. Read more>>
CPPIB Explores $1.5B Sale of Asia Private Equity Stakes
The Canada Pension Plan Investment Board is exploring the secondary sale of about $1.5 billion in Asia private equity stakes, Bloomberg reported. The Toronto-based fund is seeking advisors to offload mid-2010s commitments to strategies run by Hillhouse, Bain Capital and PAG.
CPPIB’s private equity assets stood at CAD 225.4 billion ($164.5 billion) at the end of 2025, more than a quarter of its CAD 780.8 billion total. Quebec’s La Caisse is separately looking to sell roughly $1.5 billion of China-focused private equity stakes. Read more>>
Sunway Healthcare Surges in Debut After Malaysia’s Biggest IPO in Nine Years
Sunway Healthcare Holdings surged more than 25 percent in its Bursa Malaysia debut after raising MYR 2.86 billion ($731.3 million) in Malaysia’s largest IPO in nine years. Shares opened at MYR 1.70, a 17 percent premium to the MYR 1.45 IPO price.
The Sunway Bhd healthcare arm operates five hospitals with 1,805 licensed beds, led by the 848-bed Sunway Medical Centre in Kuala Lumpur. Cornerstone investors include the Employees Provident Fund and JP Morgan Asset Management (Singapore). Read more>>
Novus Files Plans for $78M Build-to-Rent Tower at Melbourne’s Arden Precinct
Build-to-rent developer Novus has submitted plans for a A$110 million ($78.2 million) 24-storey tower in North Melbourne’s Arden precinct. The Rothelowman-designed project would deliver 250 apartments 100 metres (109 yards) from the Arden Metro station, two kilometres (1.2 miles) from the city centre.
The scheme includes affordable housing, a bike cafe, co-working space and 433 square metres (4,661 square feet) of communal open space. Co-founder Jason Goldsworthy said the site anchors the precinct’s revitalisation; Novus targets 2029 delivery subject to approval. Read more>>
STT GDC India Breaks Ground on $541M Palava Data Centre Campus
ST Telemedia GDC India has broken ground on its first data centre at the new Palava campus in the Mumbai metropolitan region, targeting an initial IT load of 50 megawatts. The 46 acre (19 hectare) campus is designed to scale to around 400MW.
The groundbreaking accompanies an INR 50 billion ($541 million) MoU with Maharashtra, positioning Palava as a new AI-ready data centre region. STT GDC India said the campus strengthens Maharashtra’s standing as India’s premier digital infrastructure hub. Read more>>
Ong Family of Green Bus Fame Sells Dunearn Bungalow for $43M
Descendants of Green Bus Company co-founder Ong Chin Chuan have sold their freehold bungalow at 436 Dunearn Road in Singapore’s District 11 for S$55 million ($43.1 million), below the S$60 million asking price set at listing last July.
The two-storey house sits on a 24,189 square foot (2,247 square metre) Bukit Timah plot, having served four generations of the family. Marketed by JLL, the site offers redevelopment potential for up to four detached houses. Read more>>
Shanghai Eases Commercial Property Loan Rules for First Time in a Decade
Shanghai has cut the minimum down payment for commercial-use property loans from 50 percent to at least 30 percent, the South China Morning Post reported. The move is the city’s first change to commercial lending rules in over a decade.
The policy follows similar easing in Shenzhen, Guangzhou, Chongqing, Chengdu, Wuhan and Changsha, leaving Beijing as the only major first-tier city yet to act. Analysts said the move could ease inventory pressures, though stronger measures may still be needed. Read more>>
Tang Organization to Conduct Strategic Review of Suntec REIT as New Sponsor
Tang Organization will conduct a strategic review of SGX-listed Suntec REIT after completing its acquisition of REIT manager ESR Trust Management (Suntec) on Tuesday. Gordon Tang’s Acrophyte Asset Management paid S$190 million ($148.9 million) plus net assets for the stake.
Tang Organization, Suntec REIT’s largest unitholder, will review strategies and pursue value-adding initiatives, with CEO Chong Kee Hiong reaffirming disciplined execution. Suntec REIT holds Suntec City, One Raffles Quay and Marina Bay Financial Centre, plus assets in Australia and London. 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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