Bruno Lopez, president and group CEO of STT GDC
The opening of the second phase of a 360MW Jakarta data centre campus leads today’s real estate headlines from across Asia Pacific as Singapore’s ST Telemedia Global Data Centres makes headway with its Indonesia pipeline. Also in the news are Meta leasing a 168MW data centre from India’s Reliance Industries in Jamnagar and Australia’s Dexus weighing a $476 million Brisbane tower sale.
STT GDC Expands Four Jakarta Data Centres in 360MW Campus Push
Singapore’s ST Telemedia Global Data Centres has announced a major expansion of its Jakarta data centre campus, launching STT Jakarta 2, topping out STT Jakarta 3, and breaking ground on both STT Jakarta 5 and STT Jakarta 6, the company said. The milestones advance a pipeline of more than 360MW of AI-ready capacity in Indonesia.
STT GDC said the Greater Jakarta campus is designed to meet rising demand from cloud, AI and enterprise digitalisation as Indonesia’s digital economy is projected to reach $130 billion by 2026, according to the announcement. Read more>>
Meta Leases 168MW AI Data Centre From Reliance in India
US social media giant Meta has agreed to lease a 168MW AI-enabled data centre being built by India’s Reliance Industries in Jamnagar, in the western state of Gujarat, the companies announced. The facility will be powered by renewable energy and cooled with desalinated seawater, with Meta covering the full cost of energy and water.
Meta said the Jamnagar site is part of one of the largest data centre campuses in the world being developed by Reliance, and will be paired with the company’s Project Waterworth subsea cable system to improve regional connectivity. Read more>>
Ichigo Office Sells Four Tokyo Buildings to Sumitomo for $89M
Japan’s Ichigo Office REIT has agreed to sell four central Tokyo office buildings to Sumitomo Corporation for a combined JPY 14.2 billion ($88.5 million), the trust said. The four assets, all more than 35 years old, were sold at prices exceeding twice their respective book values.
The sale closes on July 17 and is expected to generate a gain on sale of approximately JPY 5.9 billion, which Ichigo Office said it plans to distribute to shareholders as dividends while redeploying proceeds into growth investments. Read more>>
IKEA Sells Sydney Waterfront Warehouse to Masscon for $66M
Swedish retailer IKEA has sold its waterfront distribution and pick-up centre in Rhodes, in Sydney’s inner west, to Australian property developer Masscon for A$94.6 million ($66.2 million), according to reports. The 10,135 square metre (109,092 square foot) site on the Parramatta River will remain operational for up to 24 months before Masscon takes full control.
IKEA said it plans to integrate warehouse operations into its nearby retail store at Rhodes Waterside shopping centre. Masscon is expected to redevelop the mixed-use zoned site, which has potential gross floor area of up to 35,969 square metres. Read more>>
China Vanke Wins Approval to Extend $276M Bond Repayment by One Year
China Vanke has secured unanimous bondholder approval to extend repayment of a RMB 2 billion ($295.3 million) medium-term note by one year to July 2027, with holders voting 100 percent in favour of the restructuring proposal, according to a filing. The developer will redeem 40 percent of the principal on the original maturity date of July7, 2026.
The remaining 60 percent of the principal will be extended at the original coupon rate of 3.07 percent, with interest settled together with principal at maturity, according to the announcement. The issuer has also pledged project company accounts receivable as additional credit enhancement. Read more>>
Dexus Weighs $438M Sale of Brisbane Tower in City’s Largest Office Deal
Australia’s Dexus is close to selling its 480 Queen Street office tower in Brisbane for approximately A$680 million ($477.5 million), which would rank as the Queensland capital’s largest office transaction, according to reports. US investment house Barings is believed to be leading the field of bidders for the 31-level, 55,561 square metre (598,054 square foot) premium-grade tower.
Dexus and its unlisted Dexus Wholesale Property Fund jointly own the building, anchored by mining giant BHP with PwC and Herbert Smith Freehills among its tenants. Dexus holds its 50 percent stake at A$341.9 million on a capitalisation rate of 6.5 percent. Read more>>
Investa Acquires North Sydney Premium Tower for BGO and Cliffbrook
Australia’s Investa has acquired 100 Mount Street, a 35-storey premium-grade office building in North Sydney, on behalf of BGO and Sydney-based Cliffbrook Capital from Dexus and Dexus Wholesale Property Fund, the company said. The 42,000 square metre (452,084 square foot) building completed in 2019 is anchored by tenants including Hollard Insurance, Laing O’Rourke and NBN Co.
Investa chief investment officer Adam Crowe said the acquisition offered a rare opportunity to buy a 100 percent interest in a premium-grade asset at a significant discount to replacement cost, with scope to enhance occupancy and drive rental growth through active asset management. Read more>>
PwC Partners Shield Personal Assets as Evergrande Liquidators Seek $7.9B
Some partners at PricewaterhouseCoopers’ Hong Kong and mainland China affiliates are taking steps to protect personal assets, including contemplating divorce, as Evergrande’s liquidators pursue a RMB 57 billion ($8.4 billion) lawsuit over the firm’s auditing work.
The claim is among the largest corporate lawsuits ever filed in Hong Kong. PwC HK separately agreed to pay HK$1.3 billion ($165.9 million) in fines and compensation after Hong Kong’s accounting watchdog found its audits had “particularly egregious” deficiencies. Read more>>
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