Richard Law, JD Property’s head of Asia Pacific
Plans for a new industrial REIT on the Singapore Exchange lead today’s review of real estate news from around the region, as China’s JD.com teams with a Hillhouse-backed industrial player and Switzerland’s Partners Group on the way to a new listing. Also headed to a bourse is a CapitaLand China REIT and a Hong Kong-based investor makes its latest Australia residential commitment.
JD, Partners, EZA Hill Aim for $1B-Plus Singapore Industrial REIT
The property investment arm of Chinese e-commerce giant JD.com and two other firms plan to launch a Singapore-based REIT with assets potentially valued at more than $1 billion, said two sources with knowledge of the matter.
JD Property, the unlisted infrastructure investment and asset management platform of JD.com, is setting up the REIT with Swiss investment firm Partners Group and EZA Hill Property, which is backed by Asian investment firm Hillhouse, the sources said. Read more>>
CapitaLand Wins Approval for China Commercial REIT
CapitaLand Commercial C-REIT has received approval from the China Securities Regulatory Commission to register for its listing on the Shanghai Stock Exchange.
The listing is expected to take place by the fourth quarter of 2025 and will raise about RMB 2.1 billion ($293.5 billion) through the issuance of 400 million units, CapitaLand Investment said Wednesday. Read more>>
Hong Kong-Based JY Group Buys Half-Stake in Sydney Mall for $208M
Shopping centre owners in Australia have put residential developments across their mall empires at the forefront of the agenda for this cycle, and investors are lining up to back their visions.
In one of the latest Sydney retail plays, Hong Kong-based JY Group has finalised its purchase of a 50 percent interest in western suburbs landmark Bankstown Central for A$320 million ($208.4 million). The breakthrough deal will have the company join Vicinity Centres in owning the high-performing property, which is set to be transformed into a mixed-use town centre in coming years. Read more>>
Temasek’s SeaTown Raises Over $612M for Third Private Credit Fund
SeaTown Holdings, a Temasek-controlled investment manager, said Wednesday that it has closed its third private credit fund after investors committed more than $612 million.
The closing, the fund’s first, drew interest from new and returning investors, the company said. It secured commitments from “an increasingly diverse and global group” of investors spanning the Middle East, Japan, Taiwan and Singapore. SeaTown is a wholly owned subsidiary of Temasek’s asset management group, Seviora Holdings. Read more>>
China Resources Land, Sunac Report Improving Results
China’s embattled property market is showing signs of a tentative recovery, as some developers posted stronger earnings and reduced losses, supported by government stimulus measures and recovering consumption.
China Resources Land’s first-half net profit rose 16.2 percent year-on-year to RMB 11.9 billion ($1.7 billion) as sales rose 20 percent to RMB 94.9 billion. Sunac, one of China’s largest privately owned developers, said its interim loss narrowed by 14.4 percent to RMB 12.8 billion, helped by lower operating and financing costs. Read more>>
Hong Kong’s Sino Land Sees Profit Dip as Rental Income Slides
Hong Kong developer Sino Land on Wednesday said its net profit for the financial year to the end of June fell from a year earlier as strong residential sales were offset by lower rental income and falling occupancies.
After taking into account a one-time loss of HK$1.08 billion ($138.7 million) from the revaluation of its investment properties, the developer said its net profit fell to HK$4.02 billion from HK$4.4 billion a year earlier. Read more>>
Singapore Fund Manager Said in Talks to Buy Melbourne Education Campus
Singapore fund manager TrustCapital Advisors is again looking to expand its holdings in Australia and is targeting the purchase of the Monash College complex in Melbourne’s Docklands for about A$390 million ($254 million).
The fund manager has been chasing the education asset in a play that would continue its comeback on Australian shores in education after it sold down major office portfolios in 2017. Those included an eastern seaboard portfolio sold for A$727.5 million and a separate portfolio sold for A$500 million. Read more>>
Malaysia’s SD Guthrie Plans Renewable-Powered Industrial Park in Johor
SD Guthrie, the world’s biggest oil palm planter by acreage, is positioning itself to tap into the data centre boom as it looks to develop a green-energy-powered industrial park in Malaysia’s southern state of Johor.
The plantation giant, which owns 340,000 hectares (840,158 acres) across Malaysia, is expanding into industrial parks and renewable energy to reduce its reliance on palm oil. Its landbank in Johor will enable the group to become a key asset owner and green power supplier in Southeast Asia’s fastest-growing data centre hub. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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