ST Telemedia Said in Talks to Sell GDS Stake and More Asia Real Estate Headlines

Data centre M&A leads today’s cruise through Asia’s real estate headlines, as Singapore’s ST Telemedia is reported to be in talks to sell its holding in China’s GDS, with that story emerging just a few weeks after American champion KKR was said to be interested in buying the Singaporean player. Also in the news, Sino Land bets on Hong Kong’s northern metropolis and Blackstone sizes up an industrial IPO opportunity in India.

ST Telemedia Said in Talks to Sell Stake in China’s GDS Data Centres

ST Telemedia is considering selling its stake in Chinese data centre operator GDS Holdings, according to people familiar with the situation.

The company, backed by Singapore state investor Temasek, holds almost 34 percent of GDS’s Class A shares, representing about 20 percent of aggregate voting power, the latest GDS annual report shows. STT is sounding out interest from potential buyers for the entire stake, the people said, asking not to be identified discussing private deliberations. Read more>>

Sino Land Wins Tuen Mun Condo Site With $140M Bid

Sino Land has won a residential site tender in Tuen Mun for HK$1.09 billion ($140 million), beating major Hong Kong and mainland Chinese developers — including CK Asset Holdings, Kerry Properties and China Overseas Land & Investment — as the city’s housing market shows early signs of recovery.

The transaction, which marked the Hong Kong government’s first residential plot sale this financial year, involved a site at Hoi Chu Road in Tuen Mun, a district in proximity to Shenzhen Bay. Read more>>

Blackstone’s India Industrial Platform Said Exploring IPO Opportunity

Blackstone-owned Horizon Industrial Parks is considering an initial public offering in Mumbai next year that could raise $500 million, according to people familiar with the matter.

The Indian company is in talks with banks about the proposed share sale and seeking an enterprise valuation of $4 billion, the people said, asking not to be identified discussing private information. Read more>>

Evergrande Liquidators Hire UBS to Sell Property Management Unit

Liquidators of collapsed builder China Evergrande have hired bankers to sell a property management unit after previous attempts failed, people familiar with the matter said.

The court-appointed liquidators are working with UBS and CITIC Securities to seek potential buyers for the subsidiary, Evergrande Property Services Group, according to the people, who requested not to be named discussing private information. Read more>>

Road King Becomes First Hong Kong Developer to Default on Bonds

Some bondholders of Hong Kong developer Road King Infrastructure have not received coupon payments after a 30-day grace period expired Tuesday, adding to risks in the domestic property sector amid rising debt maturities and slowing sales.

The failure to make payment by Road King, totalling $11.3 million, is set to be the first bond default by a Hong Kong builder since China’s property crisis began in 2021, deepening contagion risks for the Chinese-controlled territory. Read more>>

Singapore’s UOL Reports 58% Jump in Net Profit

Singaporean developer UOL Group posted a 58 percent year-on-year increase in net profit to S$205.5 million ($160.6 million) for the first half of 2025.

The increase was due to strong performance from property development and property investments, as well as other gains from the disposal of Parkroyal Yangon, UOL said Wednesday. Earnings per share for the first half stood at S$0.2433, up from S$0.1543 in the year-ago period. Read more>>

HKMA, HSBC Say Hong Kong Commercial Real Estate Market Is Just Fine

Hong Kong’s de facto central bank and the city’s largest lender have issued separate statements to assuage concerns about a glut in the commercial property market, saying the local banking system remains robust and well-capitalised.

Risks associated with commercial real estate loans are “manageable”, as the classified loan ratio — a measure of borrowings deemed substandard, doubtful or at loss — shrank slightly to 1.97 percent in the second quarter, said Eddie Yue, chief executive of the Hong Kong Monetary Authority. Read more>>

Mitsubishi Estate Said Mulling Investment in Mirvac Sydney Project

Mirvac is said to be in talks with Japan’s Mitsubishi Estate on investing in the Aussie developer and fund manager’s Harbourside mixed-use project at Sydney’s Darling Harbour.

Mirvac is courting Mitsubishi Estate as a partner in the project after having earlier fielded interest from Daiwa House. Mirvac already has a tie-up with Mitsubishi Estate as a backer of its A$1.8 billion ($1.2 billion) build-to-rent venture unveiled in 2023. That venture has been rolling out new facilities across Australia and established itself as a leader along the east coast. 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.