New World chairman Henry Cheng seems encouraged by investors accepting 50% haircuts (Image: NWD)
As analysts look for signs of a recovery in the Hong Kong market, investors in erstwhile blue-chip developer New World are accepting 50 percent haircuts on the distressed builder’s debt. That story leads today’s look at headlines from around the region, with updates from Singapore’s Coliwoo and a US data centre startup also making the list.
Investors Swapping $1B in New World Debt at 50% Haircut
Distressed Hong Kong builder New World Development said it expects to cut a portion of its debt, which ranks it as one of the most indebted property groups in the city, after an early deadline to accept a plan to swap some of its bonds.
The company, which has been battered by a real estate slump in Hong Kong and mainland China, is set for a net reduction of its outstanding perpetual securities and senior notes in aggregate principal amounts of about $1.02 billion and $29.9 million, respectively, it said in an exchange filing. Read more>>
Singapore’s Coliwoo to Launch Middle Road Co-Living Project in Q1
Less than two weeks after its debut on Singapore’s main board, co-living operator and investor Coliwoo has announced the planned opening of a six-storey property near the city-state’s central business district.
Coliwoo plans to open the project at 141 Middle Road during the first quarter of next year after its parent firm, LHN Group, acquired the former GSM Building in 2023 for S$80 million (then $60.1 million). Read more>>
US Data Centre Startup GMI Cloud Plans $500M Taiwan Project
US data centre operator GMI Cloud plans to establish a new $500 million facility in Taiwan, joining bigger players such as Alphabet Inc’s Google in offering cloud services to the world’s most advanced chipmaking base.
The Silicon Valley-based firm is raising $400 million from several Taiwanese banks for a 16-megawatt “AI factory” in northern Taiwan’s Taoyuan, according to CEO Alex Yeh. Read more>>
Brookfield’s DCI Data Centers Secures $210M for Seoul Project
DCI Data Centers said last week that it has closed on a KRW 310 billion ($210 million) term loan facility to support its 20-megawatt flagship data centre in Seoul.
In a statement, the Brookfield portfolio company said the upsized five-year facility was self-arranged in partnership with its parent firm with support from a consortium of local Korean and international banks. The statement thanked NH Investment & Securities, Credit Agricole, BNP and MUFG for their collaboration. Read more>>
MassMutual Sells 18% Stake in Barings to Japan’s Mitsui Sumitomo Insurance
Barings announced Monday that its parent company, MassMutual, has agreed to sell an 18 percent stake in the global asset manager to Japan’s MS&AD Insurance Group Holdings.
The sale to MS&AD’s Mitsui Sumitomo Insurance unit is expected to result in $1.44 billion in cash proceeds for MassMutual, which will retain an 82 percent stake in Barings. Read more>>
Hong Kong Central Bank Seen Intensifying Scrutiny of Distressed Property Loans
Hong Kong bankers and regulators are signalling growing concern over the city’s deepest real estate downturn since the Asian financial crisis.
In recent months, Hong Kong’s de facto central bank has intensified scrutiny of lenders’ decisions on distressed loans. It has called banks more frequently to gauge their willingness to extend credit lines to even smaller developers. And bankers are increasingly reassessing the lofty valuations assigned to collateral that backs hundreds of billions of dollars of shaky property loans. Read more>>
Singapore Developer Sentiment Improves as Home Sales Surge
Sentiment among real estate players in Singapore continued to improve in the third quarter of 2025, buoyed by easing financial conditions and economic growth. But job losses and a potential decline in the domestic economy are top of mind for property honchos, according to a quarterly poll published Monday.
The National University of Singapore’s Real Estate Sentiment Index — a quarterly barometer of general prevailing sentiment — rose to 6.1 in Q3 from 5.7 in the previous quarter. Read more>>
Charter Hall and Investa Secure Bank of Queensland for Brisbane Office Project
Australian investment managers Charter Hall Group and Investa announced this week that they have secured Bank of Queensland Group as a long-term tenant at 360 Queen Street in Brisbane, as the A$800 million ($518.2 million) building nears practical completion.
Bank of Queensland has signed a 12-year lease in the property, shifting from the city fringe to the 33-level Grade A commercial tower in Brisbane’s Golden Triangle. The lease covers 5,900 square metres (63,507 square feet), according to a statement. 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.
Leave a Reply