KKR Japan CEO Hiro Hirano
KKR selects Morgan Stanley to advise on a public offering of the fund manager’s Logisteed unit in Japan, with that report leading today’s headline roundup. Also in the news, billionaire Gautam Adani eyes an expansion of his data centre plans and India’s Prestige Hospitality files for an IPO.
KKR Picks Morgan Stanley for Potential IPO of Japan’s Logisteed
KKR has picked Morgan Stanley to help work on a potential initial public offering of Japanese logistics operator Logisteed in Tokyo, according to people familiar with the matter.
The US-based investment firm has recently engaged with the Wall Street bank to start preparations for an offering that may take place in 2027, the people said, asking not to be identified discussing the private talks. Other banks are likely to be added later, the people said. Read more>>
Adani May Expand Data Centre Investment to $10B
Gautam Adani plans to invest an additional $10 billion to build data centres in India, people familiar with the matter said, as the billionaire looks to ride the boom in demand for artificial intelligence and business process-led services.
The port-to-power Adani Group has identified Andhra Pradesh, Maharashtra, Gujarat and Tamil Nadu as possible locations for setting up two data centres of about 1 gigawatt capacity each, the people said, requesting not to be named discussing private information. The vision is to scale up the data centre portfolio to 10GW over time, they said. Read more>>
India’s Prestige Hospitality Ventures Files for $317M IPO
Indian developer Prestige Estates’ hospitality business, Prestige Hospitality Ventures, filed for a INR 27 billion ($317 million) initial public offering, according to draft papers released Thursday.
Prestige Estates is looking to raise between INR 20 billion and INR 30 billion through the public float of its hospitality business, as per local media reports from last June. Read more>>
HSBC, Citi See Hope for China Property Stocks
Global banks see gains ahead for China’s property stocks, with some projecting increases of close to 20 percent for certain developers this year, driven by record-low mortgage rates and stronger policy support as Beijing seeks to bolster growth amid tariff challenges.
“The convergence of low rates, a supply squeeze and credit normalisation present a cocktail of conditions that are driving a structural property market recovery,” HSBC analysts said Wednesday in a report. Read more>>
Singapore’s PSA Said Exploring Sale of 20% Stake in CK Port Business
Singapore’s PSA International is exploring the sale of its 20 percent stake in CK Hutchison’s ports business, two people with knowledge of the matter said, joining the Hong Kong conglomerate in its contentious plans to sell.
Tycoon Li Ka-shing’s CK Hutchison announced last month that it would sell its 80 percent holding in the business, which includes two ports along the strategically important Panama Canal, to a BlackRock-led consortium. The holding has an equity value of $14.2 billion. Read more>>
Mandarin Oriental Ready to Renovate Hong Kong, Bangkok Hotels
Mandarin Oriental Hotel Group has announced significant renovation projects for its two flagship properties in Hong Kong and Bangkok. The works form part of the group’s broader strategy to enhance legacy assets while aligning them with contemporary hospitality standards and long-term sustainability goals.
In Hong Kong, the historic 1963-opened hotel will undergo a phased renovation beginning this quarter, with completion anticipated in Q4 2026. The works include a full redesign of public areas and guestrooms, updated food and beverage venues, and enhancements to wellness facilities. Read more>>
URA Reports Rising Office Vacancy in Singapore
The Urban Redevelopment Authority’s office rental index for Singapore’s central region rose 0.3 percent in the first quarter versus the previous three months, reversing a 0.9 percent quarterly drop in last year’s fourth quarter.
The islandwide vacancy rate of office space climbed to 11.7 percent at the end of the first quarter from 10.6 percent at the end of 2024, according to URA data released Friday. Read more>>
SGX-Listed OUE REIT Says Revenue Fell 12% in Q1
Singapore-listed OUE REIT’s revenue fell 11.9 percent year-on-year to S$66 million ($50.2 million) in the first quarter of 2025.
The result was mainly due to the divestment of Lippo Plaza in Shanghai, as well as lower contributions from the hospitality segment due to a weaker trading environment compared with the previous year, the trust’s manager said Thursday in a business update. Read more>>
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