GDS Holdings chairman and CEO William Huang
Beijing-based data centre group GDS is seeking to borrow $3.4 billion to fund operations in Malaysia, with that report leading today’s headline roundup. Also in the news, Chinese builder Sunac warns of widening losses and Singapore’s 3D pressures Sapporo on property sales.
GDS Said Seeking $3.4B in Loans for Malaysia Data Centres
Chinese data centre operator GDS Holdings is seeking a $3.4 billion-equivalent loan for its operations in Malaysia, people familiar with the matter said.
The borrowing would be GDS’s biggest-ever loan. It would also be among the largest financings for the sector by any borrower in Asia. The company’s international arm, DayOne, formerly known as GDS International, is aiming for a five-year facility, according to the people. Read more>>
Sunac China Warns of Widening Loss for 2024
Sunac China on Monday said it expected to report a wider loss of up to RMB 26 billion ($3.6 billion) for the year to the end of December 2024.
Beijing-based Sunac, once among China’s largest developers, attributed the higher net-loss forecast to the absence of gains that it had logged after the completion of its offshore debt restructuring. In late 2023, Sunac completed a comprehensive overhaul of its $9 billion offshore debt, exchanging its existing debt for a combination of notes, among others. Read more>>
Singapore’s 3D Pressures Sapporo to Divest Real Estate
Beer maker Sapporo Holdings needs to be more transparent about its plans to divest some of its substantial real estate holdings, said a board candidate backed by the Japanese company’s largest shareholder.
Paul Brough, a former independent director at Toshiba and nominee of Singapore-based 3D Investment Partners, said Sapporo has strong brands but has been plagued with poor results and ineffective capital allocation. Read more>>
SoftBank Set to Buy Former Sharp Factory for $676M for Japan Data Centre
SoftBank is set to buy a former Sharp factory for $676 million to convert it into an AI data centre in the investment firm’s home market of Japan.
The purchase and sale agreement with Sharp includes both the land and buildings of the Sharp Sakai Plant, a former liquid crystal display panel-making site in Osaka. SoftBank first announced it was planning the 150-megawatt data centre last June. Read more>>
Why Singapore’s OCBC Delayed Plans for HQ Redevelopment
Nearly a year ago, when news broke that OCBC was exploring the redevelopment of its Chulia Street property, there was much buzz in property circles as to how this would rejuvenate the locale, which is in Singapore’s central business district, near the banks of the Singapore River.
However, at the bank’s fourth-quarter results briefing last month, group CEO Helen Wong revealed that the bank would defer plans for the redevelopment of the OCBC Centre cluster of three buildings. Read more>>
Keppel in Dispute Over Site for IFC Jakarta Complex
Singapore’s Keppel said Monday that its wholly owned subsidiary, Kepland Investama, is in a civil action over ownership rights for land plots in Jakarta, where the International Financial Centre Jakarta Tower 2 building complex is situated.
The global asset manager said that an individual, Tumpal Hutabarat, has commenced civil action against its subsidiary and others, claiming he is the legal owner of the land plots measuring 24,500 square metres (263,716 square feet). Read more>>
New World Said in Talks to Bring LV Mega-Store to Troubled Kowloon Mall
New World Development, the Hong Kong real estate company controlled by the billionaire Cheng family, is in talks with luxury giant Louis Vuitton to open a mega-store in one of the developer’s signature malls, according to people familiar with the matter.
The new store would occupy 40,000 square feet (3,716 square metres) at the K11 Musea mall, making it one of Louis Vuitton’s largest in Asia, said the people, who asked not to be identified discussing private matters. The store could feature a museum, a cafe and a lounge for the brand’s VIP customers, they said. Details over rent remain unclear. Read more>>
Central Seoul Housing Prices Surge After Policy Change
Housing prices in Seoul’s affluent Gangnam district have surged dramatically, with some apartments increasing by KRW 600 million to KRW 700 million ($414,000 to $483,000) in mere weeks.
The primary catalyst for this renewed housing frenzy is widely attributed to the reduction of the Land Transaction Permit System. Within a month, apartment transactions in these areas surged by 72 percent, with average sale prices rising by KRW 100 million. Read more>>
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