Gaw Capital teamed up with Quadreal to buy East Ocean Tower in 2018 (Image: Sing Holdings)
The ongoing struggles of China’s real estate markets lead Mingtiandi’s look at the headlines from around Asia Pacific today as Gaw Capital looks for ways to finance $370 million in debt tied to a Shanghai office project. Also making the list, a condo development in one of Singapore’s most expensive residential districts achieves a near sell-out on its launch weekend and Canada’s La Caisse lays out plans for more APAC deals.
Gaw Capital Said Seeking to Refinance $370M in Debt on Shanghai’s Ocean Tower
Real estate focused private equity firm Gaw Capital Partners is racing to refinance or extend $370 million in loans tied to properties in Shanghai as maturities loom next month.
The Hong Kong asset manager is in talks with existing lenders to extend an around $260 million-equivalent syndicated loan due on Nov. 12 that was used to back the acquisition of the Ocean Towers office building in 2018, according to people familiar with the matter. Banks involved in the talks include HSBC Holdings Plc and Hang Seng Bank Ltd. Read more>>
CapitaLand-UOL Singapore Luxury Project Nearly Sold Out on Opening Weekend
A condo joint venture between CapitaLand Development and UOL Group in a Singapore expat stronghold achieved a near sell-out on its opening weekend amid a drought of residential projects in the city-state’s prime districts.
658 of the 666 homes in the Skye at Holland project were snapped up by buyers over the weekend, with nearly all of the purchases made by Singaporeans or permanent residents. The project was the first in Holland Village in nearly six years. Read more>>
Canada’s La Caisse Aims to Invest $10.7B in APAC
La Caisse, one of the largest pension funds globally, aims to invest C$15 billion ($10.7 billion) in Asia-Pacific over the next three years – more than half of which will be in infrastructure, said its president and chief executive Charles Emond.
Of the total investment, infrastructure is expected to take up C$9 billion. Credit and real estate will account for C$3 billion each. Read more>>
Tata Says Planning New Unit to Develop 1GW of India Data Centres
As part of its Q2 2025 results this past week, Tata Group’s technology unit Tata Consultancy Services (TCS) announced plans to launch a new business entity to develop 1GW of “world-class” AI data center capacity in India.
The company is looking to build sovereign AI data centers with large hyperscalers as customers. During the company’s earnings call, K Krithivasan, TSC MD and CEO, said the venture would see $6 to 7 billion invested over the next five to seven years including both equity and debt financing. Read more>>
Goodman Asks to Rezone Suburban Sydney Industrial Sites for Housing
Goodman Group is chasing approval for 1,400 apartments on a site it has assembled in Sydney’s southern suburbs near Mascot station, where the Minns government has flagged the potential for more residential projects.
It already has plans to rezone sites in the northern suburb of Macquarie Park into build-to-rent towers that could accommodate thousands of residents. In each case, Goodman looks to rezone the land rather than develop it itself. The sites would be traded to a specialist developer. Read more>>
London Luxury Flat Seized From Wife of Flailing Mainland Tycoon Pan Sutong
A London flat tied to a bankrupt Hong Kong property tycoon has been put on sale for £45 million ($60 million). Located across an entire floor in One Hyde Park in Knightsbridge, the 9,000 square foot apartment is on the market after it was seized from the wife of Pan Sutong, formerly one of Asia’s richest men.
Equipped with a private wine cellar, five bedrooms, six bathrooms and a cinema room, the flat was bought by an offshore company controlled by Liu Jianming in 2011 for £60 million. Read more>>
London Refurbishment Costs Driving Chinese Investors to Dump UK Projects
Gingko Tree Investment, a sovereign investment entity of the Chinese government, is considering pulling out of a prime piece of commercial real estate in London to avoid having to spend money on a costly refurbishment, according to people familiar with the matter.
The property — 33 Holborn, which is the former headquarters of British grocer J Sainsbury Plc — needs an upgrade in part to comply with stricter energy efficiency requirements. But Gingko Tree, which owns the building with Tishman Speyer and a Danish pension fund, is weighing an exit in order to avoid forking out the necessary capital, the people said, asking for anonymity discussing confidential information. Read more>>
China Real Estate Market Performing Worse Than Expected in 2025
China’s real estate market is expected to fall more sharply than expected in 2025, extending an industry slump for a fifth-straight year and delaying hopes of a market turnaround, S&P Global Ratings said in a report late Thursday.
The analysts project sales of new homes will drop by 8% from last year to between RMB 8.8 trillion and RMB 9 trillion ($1.23 trillion to $1.26 trillion). 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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