Kajima Corporation president Hiromasa Amano
Japanese developer Kajima Corporation enters Australia’s booming build-to-rent market, with that story leading today’s headline roundup. Also making the list, asset manager IGIS invests in data centres in South Korea’s Busan and internet firm Kakao eyes a server-hosting facility near Seoul.
Kajima Partnership Aims for $974M Aussie Apartment Portfolio
Japan’s Kajima Corporation has partnered with Pro-invest Group to develop a portfolio of build-to-rent housing across Australian cities that could be worth as much as A$1.5 billion ($974 million) in five years’ time, in a sign that investors have become more confident about the outlook for construction costs.
The partnership between Pro-invest, a fund manager, developer and operator, and Tokyo-listed Kajima, one of Japan’s largest builders, is already working on its first development, a 300-unit project in Sydney, said Pro-invest chairman Ronald Barrott. Read more>>
Korea’s IGIS Signs MOU for $1.3B in Busan Data Centres
South Korea’s IGIS Asset Management plans to invest $1.3 billion to build two AI data centres in Busan, about 280 miles (451 kilometres) southeast of Seoul.
IGIS signed a memorandum of understanding with the Busan Metropolitan City government on Tuesday. The construction of the 40- and 80-megawatt data centres is expected to begin in late 2026, with operations scheduled to start in late 2029. Read more>>
Kakao to Invest $442M in Greater Seoul Data Centre
Korean internet firm Kakao is to build a data centre in Namyangju, Gyeonggi province.
The KRW 600 billion ($442 million) investment will see the company develop a 92,000 square metre (990,280 square foot), AI-focused facility. Work is set to start next year, targeting a 2029 completion date. Read more>>
China Looks for New Strategies to Revive Housing Market
Premier Li Qiang’s remarks on further shoring up the property sector and escalating policy support are said to be indicative of Beijing’s lingering concerns over the sector — once an economic pillar for China — that remains a drag on growth and consumption, as seen in the latest statistics.
Analysts say that while there is no quick fix to the woes, Beijing has grown more wary of the impact on overall sentiment and domestic demand, as the economy grapples with external turmoil. Read more>>
Greater China Commercial Real Estate to See Restructuring Wave
Commercial real estate and financial services companies in Asia are set to bear the brunt of corporate distress this year and next, with the Greater China region most likely to see a wave of financial restructurings, according to AlixPartners.
Restructuring professionals are bracing for an uptick in activity across Asia this year, with 62 percent of respondents anticipating more out-of-court restructurings, according to a survey published by the restructuring specialist on Wednesday. An equal number of professionals expect a rise in distressed M&A transactions as an alternative to formal insolvency proceedings. Read more>>
Vietnamese Developer Hoang Huy Aims for HCMC IPO
CRV Real Estate Group JSC, a member of Vietnam developer Hoang Huy Group, seeks to list its shares on the Ho Chi Minh City Stock Exchange in the second half of this year.
CRV’s executives forecast 2025 to remain a volatile and challenging year for the broader economy. Therefore the company plans to continue focusing on project development management and property investment. With several large-scale projects in the pipeline, scheduled for handover and rollout over the next three to five years, CRV anticipates sustained profit generation. Read more>>
New World Wins Leasing Deal for Louis Vuitton Kowloon Megastore
Hong Kong’s New World Development has secured an agreement with Louis Vuitton to open a new megastore in the financial hub, according to people familiar with the matter, as global luxury giants eye bigger, more unique spaces to lure wealthy shoppers.
The store is expected to open at the end of 2026 at New World’s glitzy K11 Musea mall, following extensive renovations on a space that will be one of the label’s largest in Asia, some of the people said, asking not to be identified discussing matters that are not yet public. Read more>>
Morgan Stanley Targets $10B in Asia Revenue
Last month, as the US-China trade war heated up, Morgan Stanley co-president Dan Simkowitz made a discreet visit to Beijing. It was the first time a senior US executive from the bank had set foot in China in five years, and came days after a rare board meeting in Tokyo near the Imperial Palace.
The low-key events underscore the focus the Wall Street giant is putting on Asia under recently installed CEO Ted Pick. After several tough years sparked by a slump in China that hammered global banks, Morgan Stanley is regaining traction in the region. Read more>>
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