Henry Cheng’s New World may be exiting its airport trophy project (Image: New World Development)
New World Development may be exiting its 11 Skies project at the Hong Kong airport as the government seeks a replacement partner, with that story leading real estate headlines areound the region today. Also in the news, Singapore home sales creep upward despite policy restrictions and ESR gains another Japanese partner for a Singapore shed project.
Hong Kong Seeks to Replace New World as Partner in Airport Mall
Airport Authority Hong Kong is in discussions with New World Development (NWD) to get a massive commercial property project at the heart of Hong Kong’s international airport back on track.
The authority is considering the option of seeking a new partner to undertake and complete the work at 11 Skies shopping centre. The financial terms of the move are still under negotiation. Read more>>
Singapore Home Prices Rose 1% in Q2 Despite Fresh Deal Restrictions
Singapore private home prices rose more than estimated in the second quarter, just before new curbs were introduced, underscoring authorities’ anxiety about a rekindling of the property boom.
An index for prices of private residences gained 1 percent in the three months ended June from the previous quarter, according to data released on Friday by the Urban Redevelopment Authority. That’s twice the pace of the initial estimate of 0.5 percent, marking the third consecutive quarter of increases. Read more>>
Japan’s Yasuda Joins ESR JV with Hulic, Tokyu Land in Singapore
Tokyo-listed Yasuda Real Estate has joined Japanese compatriots Tokyu Land and Hulic in investing in an ESR logistics project in Singapore’s Jurong area, according to a statement.
Yasuda’s participation in ESR’s Sunview Logistics & Container Hub, a multistorey warehouse and container depot, marks the Japanese company’s fifth overseas project and its first participation in an overseas logistics development. Read more>>
BlackRock Buys Out Cromwell Stake in Sydney Commercial Project for $57M
Cromwell Property Group is selling its 50 percent stake in a suburban Sydney commercial project to joint venture partner BlackRock for A$87 million ($57 million), as the Australian fund manager works to reduce its leverage.
The property comprises twin 13‑storey office towers, ground‑floor retail, and three basement parking levels with the sale taking place at a 9 percent discount to the property’s most recent valuation, according to a statement by Cromwell. Read more>>
Singapore Central Retail Rents Rise 0.9% Despite Higher Vacancy
While rents of retail space in Singapore’s central region rose 0.9 percent in the second quarter of 2025 after the dip, retail vacancy tracked by the Urban Redevelopment Authority (URA) rose to 7.1 per cent.
The amount of occupied space fell by 16,000 square metres (172,223 square feet) net, a larger drop than the 12,000 square metres decrease in Q1. Read more>>
Sydney Housing Market Soars as Rate Cuts Drive New Highs
Sydney’s median house and unit prices have hit record highs as rate cuts have increased borrowing capacity and demand, while supply is still low.
The city’s median house price jumped to A$1.7 million ($1.1 million) after rising 4.2 per cent or $68,808 ($45,236) over the year to June, the latest Domain House Price Report. Meanwhile, the unit price rose to $834,791, a 3.2 per cent increase or $25,840 ($16,988) a year in the same period. Read more>>
Apartment Prices Surge Over 10% in Key Seoul Districts
Apartment prices in Gwacheon and Songpa-gu, Seoul have increased by over 10 per cent this year, according to the Korea Real Estate Board (REB). The average apartment price in Gwacheon was about 100 million won ($72,518) higher than in Songpa.
In contrast, apartment prices in Pyeongtaek, Gyeonggi Province dropped by 4.5 per cent during the same period. Read more>>
Brookfield Sells $13B in Property During 2025 Under New CEO
Brookfield Asset Management has recorded $13 billion in real estate sales so far this year, a sharp rise from $3 billion in H1 2024 and $2 billion in the same period of 2023.
Lowell Baron, the firm’s new real estate CEO, stated that the transactions, which include assets in the US, Spain, and Australia, point to renewed momentum in large-scale property deals. Read more>>
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