Mingtiandi - Asia real estate intelligence

We are excited to share highlights from our recent on-location event in Hong Kong, where over 200 industry leaders engaged in insightful discussions and networking. We thank participating companies including Link REIT Asset Management, Gaw Capital Partners, Warburg Pincus LLC, VLINKER, CPP Investments | Investissements RPC, Serakai, Swire Properties, Hongkong Land Limited, Yardi, and more for contributing to the event's success. Coming up next, Mingtiandi will host on-location events in Singapore on 10 September, followed by our first-ever event in Tokyo on 12 November. Tickets are now available for the Singapore forum: https://lnkd.in/ghg_hdHV Tickets are now available for the Tokyo forum: https://lnkd.in/g9zMuqDX Special thanks to  Charles Griffith of Macquarie Asset Management Natasha Ho of China Real Estate Chamber of Commerce Hong Kong and International Chapter (CRECCHKI) Alan Kam of AB Capital Investment Limited Ricky Tse of GLP Capital Partners Janice Yau Garton of Stephenson Harwood LLP Don Tan of Alyssa Partners Benjamin Cha of Serakai Jing Zhou of Nuveen, a TIAA company

Asia’s investment centre of gravity continues to shift toward Japan this week with one of the biggest US fund managers naming a new country head for Asia’s second largest economy. With that item leading Mingtiandi’s roundup of personnel moves from around the region, also making the list is a new executive at a multi-family office and a pair of moves at Singapore’s GIC. Read more: https://lnkd.in/gssERpa8

Cuscaden Peak is marketing its Woodleigh Mall in north-central Singapore for S$800 million ($596 million), sources confirmed to Mingtiandi on Friday. Read more: https://lnkd.in/g7G4Fpzv

Office vacancy in Hong Kong reached a record high of 13.6 percent at the end of June, as sluggish leasing demand and oversupply drove average office rents in the Asian financial centre down 4.3 percent in the first half of the year, marking a plunge of 36.5 percent from their 2019 peak, according to a report by JLL this week. Read more: https://lnkd.in/gW2qYeQQ

Vnet Group founder Josh Chen has withdrawn his long-standing offer to take the Chinese data centre operator private, arguing that the NASDAQ-listed firm would be better served remaining publicly traded. Read more: https://lnkd.in/gztUgDVs

Unexpected enthusiasm leads Mingtiandi’s roundup of real estate news from around the region today as a government auction of a residential site in Hong Kong’s ho-hum market attracts 10 developers. PAG also makes the news with plans to up its China bets and Victor Li’s CK is said to consider a London listing for his infrastructure holding firm. Read more headlines: https://lnkd.in/g7sVXdrn

Industrial developer Panattoni broke ground this week on a warehouse park in India’s national capital region as the US company’s first project in the country. Read more: https://lnkd.in/g7Bf4xTK

Keppel DC REIT has agreed to buy a western Tokyo data centre at a deal value of JPY 23.4 billion ($140 million), taking advantage of low borrowing costs to secure the trust’s first asset in Japan. Read more: https://lnkd.in/gH3whui6

A set of four mansions in Hong Kong’s prestigious Peak area have sold for HK$1.1 billion ($141 million), marking a 50 percent decline from the height of the market in 2021, as even the city’s elite show signs of financial stress amid Hong Kong’s protracted housing slump. Read more: https://lnkd.in/gvu5KHvz

PGIM raises $506 million for its first Australian real estate debt fund, with that story leading Mingtiandi’s headline roundup today. Also making the list, Hong Kong’s audit regulator says it found no supporting evidence for some of the allegations made against PwC and Mandarin Oriental tops out Hong Kong’s One Causeway Bay. Read more headlines: https://lnkd.in/guGF6J2F