PAG co-founder and president Jon Paul Toppino
Asia-focused private equity firm PAG plans to boost its investment in Japan real estate, with that story leading today’s headline roundup. Also making the list, Fitch Ratings says China’s property slump has far to go and Singapore-listed Frasers Centrepoint Trust reports nearly full occupancy.
PAG to Invest $7B in Japanese Real Estate in Next 3 Years
Asia-based fund manager PAG will invest $7 billion in Japanese real estate over the next three years, aiming to buy property being unloaded by local companies and to invest in data centres.
PAG recently launched a $4 billion fund to invest in real estate in developed Asian countries. Co-founder and president Jon-Paul Toppino told Nikkei that the company plans to allocate 70 to 75 percent of the fund’s capital to Japan. Combined with bank loans and other financing, total investment in Japan is expected to be in the $7 billion range. Read more>>
China Property Slump Not Over Yet: Fitch
China’s property market downturn is likely to persist this year with slower home sales and construction activity, hobbled by “structural challenges” including oversupply and lower affordability, according to Fitch Ratings.
The value of new home sales is expected to fall 15 percent to RMB 7.3 trillion ($1 trillion), reflecting a 5 percent decline in the average selling price and a 10 percent drop in gross floor area, the rating company said Wednesday. Read more>>
Frasers Centrepoint Trust Says Retail Portfolio 99.5% Occupied in Latest Quarter
Frasers Centrepoint Trust posted a committed occupancy of 99.5 percent in its retail portfolio for the first quarter of its financial year to the end of September 2025. The level was maintained through proactive asset and property management, the Singapore-listed REIT’s manager said Wednesday in a business update.
Retail occupancy slipped marginally, from 99.9 percent in the year-ago period and 99.7 percent in the preceding quarter. Still, each of the retail malls under the trust has a committed occupancy of at least 99 percent. Read more>>
Mapletree Industrial Trust Boosts Quarterly Payout
The distribution per unit for Mapletree Industrial Trust rose 1.5 percent year-on-year to S$0.0341 for its third quarter to the end of December.
Revenue for the quarter was up 2 percent year-on-year at S$177.3 million ($130.7 million). The result was due to contributions from a newly acquired mixed-use facility in Tokyo, the completion of fitting out works of a data centre in Osaka, as well as new leases and renewals across various property clusters, the Singapore-listed trust’s manager said Wednesday. Read more>>
SGX-Listed Stoneweg E-REIT Prices Green Notes
Stoneweg European REIT has priced its offering of €500 million ($520.3 million) in green notes due in 2031 under its €1.5 billion medium-term note programme.
The notes will bear a coupon rate of 4.25 percent, while the reoffer yield will be 4.343 percent, payable annually in arrears, the Singapore-listed trust’s manager said Wednesday. Read more>>
Sunac China Shares Fall After Domestic Debt Restructuring Announced
Shares of Sunac China Holdings closed lower after the firm secured a deal to halve its RMB 15.4 billion ($2.1 billion) in onshore debt, making it the first troubled Chinese developer to get creditors to approve such a restructuring.
Sunac ended down 4.2 percent at HK$1.59 ($0.21) a share in Hong Kong on Wednesday after surging by as much as 7.8 percent in the morning. The Hang Seng Index lost 1.6 percent. Sunac’s stock is down about 30 percent so far this year. Read more>>
Apple Sets India Retail Record With Mumbai Store Lease
In the highest-ever commercial lease rentals in the country, Apple India has taken on 6,526 square feet (606 square metres) of rental space in Bandra Kurla Complex in Mumbai at a monthly rental of INR 738 ($8.54) per square foot, according to property registration documents accessed by Propstack.com
Apple India is leasing the commercial space in a building called Maker Maxity-5 for five years, the documents revealed. Read more>>
India Developer Stock Index Dropped 20% in Past Month
Indian developer stocks are under significant selling pressure amid the broader market sell-off. Over the past month, the Nifty Realty Index has declined by 20 percent, with a single-day drop of 4.6 percent on Wednesday.
Several real estate stocks are now trading at substantial discounts to their 52-week highs, including DLF (down 26 percent) and Godrej Properties (down 34 percent). Similarly, Macrotech Developers and Prestige Estates have declined 29 and 36 percent from their 52-week peaks. Read more>>
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