James Kemp, head of real estate for Asia Pacific at Macquarie Asset Management
Pricing for an upcoming Singapore REIT IPO leads today’s review of real estate news from around Asia Pacific as a Macquarie venture aims for a March listing, according to a Bloomberg report. Japan’s Mitsui OSK Lines also makes the list with a Singapore investment, and a set of eight Hong Kong apartments sells for $40 million.
Macquarie’s UI Boustead REIT Said Aiming for $700M Singapore IPO
UI Boustead REIT is gearing up for a listing in Singapore as early as March, targeting proceeds of at least S$900 million ($700 million), according to people familiar with the matter.
The REIT unit of Boustead Singapore will begin taking investor orders as soon as next month, the people said, asking not to be identified discussing private information. Deliberations are ongoing, and the deal size and timing may still change, they said. Read more>>
Mitsui OSK Lines Backs CapitaLand Singapore Industrial Project
Mitsui OSK Lines on Thursday announced that it is investing in Omega 1 Singapore, an industrial project in the Jurong area, through a CapitaLand fund.
The Japanese shipping conglomerate’s announcement came the same day that CapitaLand revealed plans to develop the automated logistics facility under the CapitaLand Southeast Asia Logistics Fund, a private vehicle launched in 2022 that received backing from Mitsui OSK in 2024. Read more>>
Hong Kong’s Gale Well Sells Stanley Apartments to Politician Bunny Chan for $40M
A Hong Kong delegate to China’s National People’s Congress bought a luxury residential project in the seaside enclave of Stanley for 44 percent less than the seller paid six years ago, in the latest sign that deep discounts are drawing wealthy buyers back into the city’s high-end property market.
Bunny Chan, also the chairman of the apparel firm Prospectful Holdings and a former district councillor, acquired Villa Mortini at 8 Stanley Beach Road for HK$310 million ($39.8 million) through his company Harry Corporation on 9 December, according to Land Registry records. Read more>>
Hang Seng Shareholders Approve $14B Buyout by HSBC
Hang Seng Bank’s minority shareholders backed a $14 billion buyout offer from parent HSBC Holdings, supporting the UK lender’s move to double down on Hong Kong.
Almost 86 percent of shareholders voted in favour of the offer at a meeting held in Hong Kong on Thursday. The deal required at least 75 percent of the votes cast by minority shareholders to be in favour and not more than 10 percent against it. The listing of Hang Seng Bank shares on the Hong Kong stock exchange is expected to be withdrawn on 27 January. Read more>>
McDonald’s in Hong Kong’s Causeway Bay Sold for $15M
McDonald’s has sold another Hong Kong retail property for HK$118.7 million ($15.2 million), bringing the proceeds from its ongoing asset disposal programme to HK$490 million, as well-capitalised investors continue to snap up prime real estate.
The property at 46-47 Yee Wo Street in Causeway Bay, measuring more than 10,000 square feet (929 square metres), was sold to Evergreen Capital Partners. Ng Yin was listed as director of the firm, according to the Companies Registry. Read more>>
Singapore-Listed Developer Lum Chang Plans JV Data Centre Near KL
Singapore-listed Lum Chang Holdings is developing a data centre in Petaling Jaya, Malaysia, through a joint venture with Tian Wah Properties and KL-based operator MyTelehaus, according to an announcement to the SGX this week.
Lum Chang and Tian Wah already own the site outside of Kuala Lumpur through an existing joint venture and will take responsibility for construction of the core and shell. MyTelehaus is handling design and fit-out of the data centre’s interior, with details of the project scale not yet released. Read more>>
Seoul Apartment Prices Continue to Rise as BOK Ponders Rate Decision
Apartment prices in South Korea’s capital posted gains for a 49th straight week, reinforcing the case for the central bank to keep its policy rate unchanged when the board meets next week.
Apartment prices in Seoul rose 0.18 percent in the week through 5 January, with the pace easing marginally from the 0.2 percent rise recorded a week earlier, said the Korea Real Estate Board. The latest figures follow an 8.7 percent advance for the whole of 2025, reflecting persistent demand in the capital. Read more>>
Singapore Real Estate Agency ERA Censured Over Rogue Broker
Property agency ERA has been issued a letter of censure by Singapore’s Council for Estate Agencies for three breaches under the Code of Practice for Estate Agents.
This is only the second time a property agency has been issued a censure, and the first against a major industry player. A case study published by the regulator on Thursday showed that ERA had failed to ensure that one of its salespersons, Abel Ang, did not post advertisements containing misleading or inaccurate information. Read more>>
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