AirTrunk Said Exploring Singapore REIT IPO and More Asia Real Estate Headlines

Singapore’s growing appeal for data centre REITs leads today’s look at real estate news from around the region, as Blackstone-backed AirTrunk is said to be exploring a trust listing in the city-state. Also making our list today is Hong Kong’s rebounding housing market with home having risen for a sixth straight month in November and we have coverage of a change in investment tactics for some of Canada’s largest pension fund managers. 

AirTrunk Said Exploring Singapore REIT IPO as Soon as 2026

AirTrunk, the Australian data-center operator that Blackstone Inc. bought in a record 2024 deal, is considering options including a potential real estate investment trust listing in Singapore, people familiar with the matter said.

AirTrunk has held initial discussions with prospective advisers about a possible REIT initial public offering that could raise more than $1 billion, according to the people, who asked to not be identified because the information is private. A listing could take place as soon as 2026 if it decides to go ahead, they said. Read more>>

Hong Kong Home Prices Rose 0.9% in November in Sixth Straight Month of Increases

Private home prices in Hong Kong grew 0.9 percent month-on-month in November, the sixth month of increase in a row, government data showed on Monday, as interest rate cuts and a vibrant stock market supported sentiment.

Home prices climbed 0.9 percent in November from October, following a revised 0.4 percent rise in the previous month, data from the Rating and Valuation Department showed. Home prices in Hong Kong have tumbled nearly 30 percent from a 2021 peak, hurt by higher mortgage rates, a weak economic outlook and poor demand after many professionals left due to strict COVID curbs and new national security laws. Read more>>

Canadian Pension Funds Look to Cut Back on Direct Deals

For the likes of Blackstone and KKR, a multibillion-dollar opportunity beckons from Canada.

Some of the country’s biggest pension funds are looking to scale back their direct private equity bets, according to people familiar with the matter. Instead, they’re moving to invest more through established buyout giants, or partner on deals with other big investors such as endowments and sovereign wealth funds. Read more>>

Lendlease Wins Deal for $1.5B Sydney Commercial Tower, Metro Station

Lendlease announced this past week that it has been awarded a tender for a 52-storey commercial tower on the corner of George Street and Hunter Street in Sydney’s central business district which also includes construction of a metro station. 

The company expects the tower, which will have 58,000 square metres of office space and 1,000 square metres of retail to have an end value of A$2.2 billion ($1.5 billion) with the metro station construction contract estimated to be worth A$1.5 billion. Read more>>

Singapore Launching More Industrial Sites in 2026 1H as Rents Rise

Singapore’s Ministry of Trade and Industry is launching around 11.1 hectares of industrial land across eight sites for sale for the first-half of 2026 through its industrial government land sales programme. 

This marks a decrease in the supply of industrial land from H1 2025, when 14.07 ha across 10 sites was launched. MTI said on Monday (Dec 29) that the government will “continue to release sufficient land through the IGLS programme” to ensure adequate industrial space supply in Singapore. Read more>>

Korea’s NPS to Post Record 20% Return for 2025

The National Pension Service is expected to record a return rate of approximately 20 percent this year, the highest ever, driven by strong domestic and international stock markets.

This performance was largely driven by domestic and international equities. According to preliminary figures by asset class, domestic stocks saw approximately 78 percent, overseas stocks 25 percent, alternative investments 8 percent, overseas bonds 7 percent, and domestic bonds 1 percent—in descending order. The final return rate, reflecting fair value assessments for alternative investments, will be announced in February next year. Read more>>

Keppel Singapore Data Centre Lease Extended for 10 Years

Authorities have granted a conditional 10-year lease extension, to Jul 15, 2050, for Keppel Data Centre Campus, which is owned by a Keppel-led joint venture, said Keppel and Keppel DC Reit on Friday.

This is part of a deal announced in November 2024 for the real estate investment trust (Reit) to acquire two artificial intelligence-ready hyperscale data centres from the JV. Read more>>

India Housing Market Gains Value in 2025 as New Homes Sold Decline

India’s US$500 billion real estate market recorded its second straight annual drop in new home sales volume in 2025 as high prices continued to erode affordability.

With sales volumes down 14 per cent this year, following a 4 per cent dip in 2024, real estate developers are now banking on a mix of lower mortgage rates, resilient GDP growth, and possible tax relief in the upcoming Union Budget to revive demand for residential properties in 2026 and restore confidence in the sector. Read more>>

Hong Kong New Homes Sales Expected to Reach Record High in 2026

Hong Kong’s primary residential home sales in 2026 are forecast to again reach decade-high numbers, as developers continue to clear inventory and homebuyers focus more on small, low-cost flats.

Transactions next year were projected to reach about 21,000, while total home sales were expected to climb to around 71,000, up 8 per cent from this year’s forecast, according to Midland Realty. Read more>>

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