Thakral Corp CEO Inderbethal Singh Thakral is still keen to do Osaka office deals
A pair of Japanese transactions lead Mingtiandi’s look at real estate news from around the region today, with a Singapore investment firm selling off an ageing Osaka office block and a KKR-managed REIT completing its divestment of a retail asset in the same building. Also making the list is a UAE industrial venture co-managed by CapitaLand and SC Capital Partners.
Singapore’s Thakral Sells Osaka Office Block for $36M
Singapore-listed Thakral Corp said Tuesday that it has completed the divestment of the Yotsubashi Nakano Building in Osaka for JPY 5.3 billion ($36 million).
Thakral had held an effective 57 percent stake in the Nishi ward office block and vowed to continue investing in the city’s office market following the divestment. Read more>>
KKR’s Japan Metropolitan Fund Completes $25M Sale of Half-Stake in Osaka Sports Club
Japan Metropolitan Fund informed the Tokyo Stock Exchange on Tuesday that it has completed the previously announced sale of a half-stake in the Konami Sports Club Kyobashi in Osaka for JPY 3.7 billion ($25 million).
After first announcing the sale in January, the KKR-managed REIT says it will use the proceeds from the deal to acquire new properties, with the disposal of the remaining half-stake in the Osaka property on track for completion next March. Read more>>
SC Capital, CapitaLand Jointly Launch UAE Industrial Development Fund
Singapore’s SC Capital Partners has launched SC GCC Real Estate Industrial Development Fund, its first co-sponsored industrial development fund in the UAE. SGX-listed CapitaLand Investment, which holds a 40 percent stake in SC Capital, will co-sponsor the fund.
The vehicle will support Ras Al Khaimah’s transformation with a flagship industrial project expected to create 1,800 jobs, attract more than 50 tenants and cover 300,000 square metres (3.2 million square feet) of land. SC Capital will work alongside industrial partner THi Holding Management Corp, which will act as development manager, asset manager and operator. Read more>>
Singapore Home Prices Up, Sales Jumped 29% in Q3
Singapore’s private residential prices rose 1.2 percent in the third quarter of 2025, quickening from a 1 percent increase in Q2, according to flash estimates released Wednesday by the Urban Redevelopment Authority.
Transaction volume rose 29 percent to 6,594 in the Q3 compared with the previous quarter, as developers rushed to push out new launches before the Hungry Ghost month. On the whole, prices of non-landed private residential properties were up 1.1 percent after rising 0.7 percent in the prior quarter. Read more>>
Nippon REIT Completes Sale of Become Sakae in Nagoya
Tokyo-listed Nippon REIT said Tuesday that it has completed the sale of Become Sakae, a retail property in Nagoya, for an undisclosed amount.
The REIT sponsored by finance giant SBI Group had first announced its disposal of the retail asset as part of a three-property, JPY 16.8 billion (then $114.4 million) deal in July. Read more>>
GIC JV Wins Approval for Buyout of Canadian Apartment REIT
InterRent REIT said Tuesday that it has received approval under the Investment Canada Act for its previously announced plan to sell its publicly listed shares to a joint venture between CLV Group and Singapore sovereign fund GIC.
The deal previously received clearance under Canada’s Competition Act and the parties have received a final order from the Ontario Superior Court of Justice approving the buyout, which had been accepted by InterRent’s unitholders on 25 August. Read more>>
China Home Sales Stabilised in September
China’s residential home sales steadied in September in a sign of potential stabilisation nearly three years after the government started to issue support policies for the sector.
The value of new home sales from the 100 largest property companies grew 0.4 percent year-on-year to RMB 252.8 billion ($35.5 billion), per the latest preliminary data from China Real Estate Information Corp. The reading marked a substantial improvement from a 17.6 percent decline in August, according to Bloomberg calculations. Read more>>
KKR, Morgan Stanley Bet on Shift in Korea Rental Housing Market
KKR and Morgan Stanley are pouncing on the biggest shift in decades in South Korea’s $153 billion residential rental market as the change of course presents a rare opportunity to global institutions.
In the last two months, KKR bought an apartment block in one of Seoul’s most affluent neighbourhoods while M&G Real Estate announced its first-ever residential property investment in South Korea. Morgan Stanley has teamed up with local manager Gravity to buy smaller homes. Read more>>
Hong Kong Home Loan Approvals Dropped 6.3% in August
The amount of new mortgage loans approved in Hong Kong fell by 6.3 percent month-on-month in August to HK$28.7 billion, as developers accelerated the sale of new projects at market prices.
According to data from the Hong Kong Monetary Authority, mortgage loans for primary market transactions decreased by 0.7 percent, while those for secondary market transactions saw a sharper decline of 11.9 percent. New applications for residential mortgages also dropped by 6.7 percent to 8,405 cases. 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.
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