New World chairman Henry Cheng is feeling motivated to sell (Image: New World Development)
Investors in the market for Hong Kong commercial properties may want to give Henry Cheng a call, with news of the tycoon’s New World Development attempting to sell assets leading Mingtiandi’s headline roundup today. Also making the list are Prologis’s Japan REIT trading Greater Tokyo warehouses and a Chinese private equity player doubling down on shopping malls.
New World Said Pushing to Achieve Asset Sale by June
New World Development is racing to offload at least one asset by the end of June to meet its self‑imposed HK$27 billion ($3.5 billion) sales target and generate positive cash flow, according to people familiar with the matter.
The Hong Kong builder told some investors in recent meetings that it’s pushing to achieve positive cash flow for the fiscal year ending June, fast‑tracking asset disposals to fill a multibillion‑dollar gap in the goal, the people said, asking not to be named discussing private information. Read more>>
Nippon Prologis REIT Buying Greater Tokyo Warehouse for $170M
Nippon Prologis REIT said Wednesday that it has agreed to buy a logistics property east of Tokyo from its sponsor, Prologis, for JPY 27.5 billion ($170 million).
The Tokyo-listed REIT will be adding Prologis Park Ichikawa 2, a 76,842 square metre (827,120 square foot) warehouse in the Chiba prefecture city of Ichikawa, at the same time that it sells Prologis Park Funabashi 5, another Ichikawa asset, for JPY 15.7 billion. Read more>>
Boyu Capital Doubles Down on China Retail With Beijing Outlet Mall Buy
China’s Boyu Capital is betting on a recovery in Chinese consumer spending, with the mainland private equity firm having recently paid an undisclosed amount to take over a Beijing outlet mall.
An entity controlled by Boyu now holds 88.75 percent of the equity in the Badaling Outlet mall in Beijing after acquiring the stake from Beijing Hualian. During 2025, Boyu acquired a minority stake in the operator of Beijing Hualian’s SKP luxury malls in a deal said to value that business at over $4 billion. Read more>>
SMTB Commits Financing to Mitsubishi Estate London Office Project
Dutch developer Edge and Mitsubishi Estate have partnered with a consortium of Japanese equity investors, including Tokyo Tatemono, Toko Electrical Construction and Fuyo General Lease, to fund the Edge Shaftesbury scheme. Development financing has also been secured from Sumitomo Mitsui Trust Bank, enabling on-site works to start in early 2026.
The new funding commitments enable the project to proceed on a speculative basis, reflecting the joint venture’s confidence in sustainable office schemes in the central London market. Mitsubishi Estate and Edge had teamed up in 2023 to buy 125 Shaftesbury Avenue from Savills Investment Management and Korea’s Vestaas for £150 million (then $189 million). Read more>>
KKR Struggles to Sell Philippine Hospital Chain at Target Price
KKR’s plan to sell Metro Pacific Health, the biggest operator of private hospitals in the Philippines, has stalled on valuation differences, according to people with knowledge of the matter.
KKR has been exploring the sale for a while, with those familiar saying in 2024 that the private equity firm was eyeing a valuation of $3 billion or more. Potential suitors included parent Metro Pacific Investments Corp, which was said to be considering raising its 20 percent stake. KKR and Singapore sovereign fund GIC own 80 percent. Read more>>
Prize-Winning Architect Warns Tokyo Becoming Colony of the Uber-Rich
An award-winning architect warned that Tokyo is being trampled by luxury developments, issuing a rare rebuke of his peers for catering to wealthy interests over the public.
Tokyo has long existed in a state of flux, with older buildings routinely razed in favor of modernised, earthquake-resilient structures. But for a megacity in one of the world’s largest economies, the city is surprisingly pedestrian-friendly and human-scaled. Narrow streets and lax zoning allow small shopfronts and bars to thrive, while affordable housing is dotted throughout even wealthy districts. Read more>>
Taikoo Place Office Rebranded as FWD Tower in Hong Kong
Insurer FWD Group announced that FWD Tower at Taikoo Place in Quarry Bay has officially become the headquarters of FWD Hong Kong, marking a consolidation of the group’s local operations.
FWD said that if the business continues to grow, it will consider leasing additional office space at the complex. FWD chairman Frederick Ma said the opening of FWD Tower reflects the group’s long-term commitment and investment in Hong Kong. Read more>>
China Investment Downturn Amplifies Credit Risks: Fitch
China’s sharp investment downturn is amplifying credit risks across the economy, particularly homebuilders, real estate, banks and construction sectors, Fitch Ratings has warned, as a slowing economy crimps their growth and the ability to repay debt.
Fixed-asset investment in China declined 3.8 percent in 2025 to RMB 48.52 trillion ($6.8 trillion) — the first annual decline in decades — as a deepening property slump and tighter constraints on local governments’ borrowing have hampered one of China’s traditional growth drivers. Read more>>
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