Hilton to Open Singapore Hotel with UOL and More Asia Real Estate Headlines

A new hotel for Singapore’s Orchard Road area leads today’s roundup of real estate headlines from around the region as Hilton rolls out a new brand in Asia. Also in the news, Chongqing’s CC Land is refinancing a London retail project and HKEX-listed Chevalier unloads a Toronto industrial site.

Hilton Opening Asia’s First NoMad Hotel in Singapore

Hilton Hotels on Monday that it will launch its luxury lifestyle brand NoMad in Singapore under an agreement with UOL. Hilton and the Singapore-listed property group plan to open the 173-room NoMad Singapore on Orchard Road in early 2027.

Alan Watts, Hilton’s president for Asia Pacific, described Singapore as the first of “many cities in Asia” to welcome NoMad. “This signing adds a new and significant dimension to Hilton’s phenomenal growth story in Asia Pacific,” he said, adding that luxury lifestyle travel is seeing strong, sustained demand across the region. Read more>>

Mainland Developer CC Land Commits $123M to Refinance London Dept Store

Hong Kong-listed developer CC Land has signed an equity commitment letter for up to £93 million ($123 million) of investment as part of a refinancing agreement for the £1.2 billion mixed-use redevelopment of the once-famous The Whiteley department store in London’s Queensway.

The redevelopment of the 1 million square foot (93,000 square foot) department store building saw it formally reopened last month with CC Land redeveloping the retail projects alongside MARK, the rebranded Meyer Bergman, and residential development manager Finchatton. Read more>>

Hong Kong’s Chevalier Selling Toronto Industrial Site

Hong Kong-listed Chevalier International announced to the stock exchange on Friday that it is selling an industrial site near Toronto to Northam Properties for C$13.7 million ($9.9 million).

The Hong Kong developer and investor, which owns the Chevalier Commercial Centre in Kowloon Bay, said it would use the proceeds from the sale of 350 Passmore Avenue in Toronto for general working capital. Read more>>

Far East Organization Marketing Tuas Property for $107M

Far East Organization has put on the market a sizeable industrial property in Tuas, Singapore, with substantial redevelopment potential.

Located at 51 Tuas View Link, the property has a site area of 456,810 square feet and 60 year-leasehold tenure from July 1996, leaving a balance term of about 31 years. On the site are two blocks of single-storey warehouses with mezzanine levels. The indicative guide price is about S$138 million ($107 million). Read more>>

India’s Phoenix Mills to Grow Mall Portfolio to 14M Square Feet by 2027

Phoenix Mills, India’s largest mall operator, aims to increase its retail property portfolio to over 14 million square feet (1.3 million square metres) by 2027 and over 18 million by 2030 from the 11.5 million it now holds.

It is also looking at adding new space in Kolkata, Surat, Coimbatore, Thane, Chandigarh and other cities. In the commercial office segment, Phoenix is looking to increase the area from around 3 million square feet to around 7 million square feet by 2027. Read more>>

Blackstone Aussie Exec Jumps to Local Player Wentworth

Blackstone real estate debt strategies managing director Issa Chehab has left the US private capital giant after a decade. The Sydney-based operative is expected to join local property player Wentworth Capital.

Chehab has been with Blackstone since 2015, executing financing deals across asset classes. Prior, he was a director at GE Capital Real Estate, working on equity and debt transactions in Australia and Asia, and started his career in ANZ’s structured property finance team. Read more>>

Australia’s Treasury Says Govt Will Struggle to Hit Home Supply Target

Treasury officials working to solve the nation’s housing crisis warned the Albanese government that it could not meet its commitment of supplying 1.2 million homes by 2029, proposing that major infrastructure projects might be placed on hold in order for workers to be diverted to the task of home building.

The drastic measure is one of several options floated in a confidential Treasury document that states the government’s long-held promise of building 1.2 million new homes, repeated often during the election campaign, would be unachievable without an unprecedented uptick in construction trends. Read more>>

Korea’s NPS Overdue on Selection of External Investment Manager

South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, has yet to decide on a plan to select local external managers, adding to private equity firms’ fundraising woes.

The NPS usually embarks on a process to pick external managers from the country’s private equity firms in April. The fund with KRW 1,227 trillion ($865 billion) in assets under management as of February 2025 completes the selection in June and July after reviewing proposals, due diligence and other processes. Read more>>

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