In today’s roundup of regional news headlines, an uptick in new home prices across 70 Chinese cities offers the promise of a steadying market, and Tokyo-listed Nomura Real Estate Master Fund plans to buy four senior care homes across Japan.
A more than yearlong decline in Chinese new home prices appears to be abating, offering more signs of a recovery as Beijing seeks to shore up confidence and arrest a protracted slump in the sector.
New home prices in 70 large Chinese cities rose 0.29 percent in February from the prior month, according to calculations by the Wall Street Journal based on data released Thursday by the National Bureau of Statistics. Read more>>
Tokyo-listed Nomura Real Estate Master Fund has agreed to acquire four senior care facilities for JPY 7.3 billion ($55 million) in total.
The J-REIT will also sell a Fukuoka office block and a Tokyo residential building for a combined JPY 1.1 billion. Read more>>
Colt Data Centre Services has launched a 45-megawatt data centre in Osaka, adding to its existing single facility in the Japanese city and five others in Tokyo.
The company is also planning a new 10-building, 120MW campus in India’s Navi Mumbai. Read more>>
Sunway REIT has agreed to acquire a portfolio of six freehold hypermarkets in Klang Valley and Johor from Malaysia’s Employees Provident Fund for a total cash consideration of MYR 520 million ($116 million).
The properties are located in densely populated and matured residential areas in Klang Valley and Johor and provide non-discretionary products and services to the local mass market, the trust’s manager said. Read more>>
Global data centre developer Stack Infrastructure has issued $250 million in securitised notes at a fixed rate coupon of 5.9 percent.
Cumulatively, Stack has raised a total of $2.1 billion in notes, rated A- by Standard & Poor’s, via the US company’s master trust programme. Read more>>
Singapore pushed New York off the top spot for the strongest growth in residential rents in the last quarter of 2022, fuelled by a supply crunch and strong demand.
The city-state saw annual rents jump 28 percent in the quarter from a year earlier, according to a report by Knight Frank. New York followed with 19 percent growth, while London and Toronto took the third and fourth spots, according to the survey of prime residential rents across 10 cities. Read more>>
Industrial property powerhouse Goodman Group has dramatically expanded its development workbook in Japan to more than A$10 billion ($6.7 billion) with a plan to build an air cargo logistics site at Tokyo’s expanding Narita airport.
The move comes as the billionaire chief executive of the specialist developer, Greg Goodman, said the company remained committed to building next to major infrastructure sites around the world even in the face of the slowing economy. Read more>>
India’s DLF will continue to focus on building luxury and premium projects as it finds it difficult to make profits in the popular affordable housing segment, a top company executive told Reuters.
DLF said Wednesday that it sold out its luxury residential project in Gurugram in 72 hours, generating more than INR 80 billion ($970 million) in sales, confirming a Reuters story from earlier this month. Read more>>