OpenAI chief executive Sam Altman (Image: OpenAI)
Korea continues to draw investor attention as OpenAI suggests an interest in the country’s data centre market after opening an office in Seoul, with that story leading today’s real estate headlines from around the region. Also in the news, an indebted Hong Kong tycoon sells his wine collection for more than expected and Singapore awards a suburban condo site that could yield 505 homes.
OpenAI Eyes Korea Data Centres After Opening Seoul Office
OpenAI hinted at the possibility of building a data centre in South Korea and expanding its cooperation with conglomerates like Samsung and SK, pledging to support the government’s efforts to achieve sovereignty in the artificial intelligence industry.
The ChatGPT generative AI chatbot developer mentioned these plans on Wednesday, when it announced the official launch of its Korean office — the company’s third in Asia and 12th globally. Read more>>
Hong Kong Tycoon Albert Yeung Sells Wine Collection for $2.3M
Hong Kong businessman Albert Yeung sold a collection of fine wine for HK$17.7 million ($2.3 million) in a Sotheby’s auction, almost 77 percent higher than pre-sale estimates.
All of the 161 wine lots sold, and the amount raised exceeded Sotheby’s $1.3 million estimate, according to a statement Wednesday from the auction house. The collection, titled “The Majestic Cellar of Dr Albert Yeung”, includes selections from Domaine de la Romanee-Conti, Petrus and Chateau Palmer. Read more>>
Sing Holdings-Sunway JV Awarded Singapore Condo Project After $484M Bid
A joint venture between SGX-listed Sing Holdings and Sunway Developments has been awarded its second land parcel at Chuan Grove following a government tender.
The joint venture, held in a 65:35 proportion, had on 4 September emerged as the top bidder with an offer of S$623.9 million ($484 million), which translates to a land rate of S$1,331 per square foot of accommodation. The same JV had on 17 July been awarded an adjacent site after paying the top bid of S$703.6 million or S$1,376 per square foot. Six other bidders took part. Read more>>
Greystar Breaks Ground on Latest Melbourne Project
US rental housing giant Greystar has flagged a fresh push into both build-to-rent and student accommodation as works begin on its latest project in the inner-city Melbourne suburb of Kensington. The company is bullish about both sectors after assembling a series of build-to-rent sites in major cities and acquiring a A$1.6 billion ($1.1 billion) student portfolio with the backing of the Future Fund.
While the areas are separate, they position Greystar to capitalise on the rising demand for rental accommodation at a time when listed retail and office companies have flagged their interest in undertaking housing to address nationwide shortages. Read more>>
Singapore’s Centurion Wins Shareholder Nod for REIT Listing
SGX-listed Centurion Corp won overwhelming support at an extraordinary general meeting on Wednesday for its planned listing of Centurion Accommodation REIT and related transactions.
This includes the divestment of selected assets into the new REIT, Centurion’s role as the sponsor and manager of the trust, and the board’s authorisation to take all the necessary steps to implement the listing. Read more>>
QIA Backs Hong Kong Logistics Tech Startup
A venture capital firm backed by Qatar’s sovereign wealth fund is taking a minority stake in an AI-powered logistics technology startup backed by Hong Kong’s wealthiest man, as it looks for investment opportunities in the Greater China region to more than triple its assets under management by the end of 2025.
Doha-based Rasmal Ventures, backed by the Qatar Investment Authority, has invested $2 million in Hong Kong’s Nexx, an 18-month-old startup backed by Li Ka-shing’s flagship CK Asset Holdings. Read more>>
LHN Stock Climbs Further on the SGX as Coliwoo IPO Plan Moves Forward
Shares LHN advanced for a second day straight on Thursday morning after its proposed spin-off of its co-living business received approval.
It had ended Wednesday 8.1 percent higher at S$0.93 after the Singapore Exchange had approved the mainboard listing of Coliwoo. The stock extended its rally from the previous day and climbed to a high of S$1.01 in early trade. This was 8.6 percent or S$0.08 above its Wednesday closing price. Read more>>
Johor Holds Title of Southeast Asia’s Fastest-Growing Data Centre Hub
Johor is the fastest-growing data centre hub in Southeast Asia, with aggregate supply nearly doubling in the past year, said Knight Frank.
In a regional data centre report released Wednesday, the consultancy also noted that Asia Pacific had a 160 percent increase in new project announcements in the first half of 2025. Read more>>
Korean President Vows to Stabilise Housing Market
South Korean President Lee Jae-myung stated on the 11th regarding real estate price stabilisation measures, “Real estate prices should not suddenly plummet or skyrocket but must be managed appropriately,” adding, “There is no choice but to continuously and repeatedly introduce measures.”
The president made these remarks during a 100th-day press conference in office held at the State Guest House of Cheong Wa Dae that day. “The public perception that ‘investment is real estate’ has taken root, but I believe this is reaching its final stages,” he said. Read more>>
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