NTT Global Data Centers President and CEO Doug Adams
Japan’s NTT is seeking to raise $864m from a data center REIT IPO, which is the story that dominates today’s headlines. Star Entertainment’s Hong Kong-based investors threaten to terminate the casino deal, and Indian builder Anant Raj is expanding its data centre portfolio.
NTT Singapore Data Centre Reit IPO Aims To Raise Up To $864M
According to a termsheet that marked the beginning of the bookbuilding, Japanese telecom giant NTT wants to raise approximately $864 million through a Singapore IPO to fund a data center REIT if overallotment is included. According to a Friday preliminary prospectus, NTT DC REIT has six data centres in the US, Austria, and Singapore. The term sheet stated that the value of the base offer is between $772 and $812 millions, while the overallotment would add an additional $51.5 million.Read More>>
Chow Tai Fook and FEC Threaten To Walk Away From Brisbane casino Deal
Star Entertainment’s Hong Kong-based investors have threatened to walk out of a deal to build a new Queen’s Wharf hotel and casino complex in Brisbane. This would put the struggling casino company under extreme financial stress.
Hong Kong Chow Tai Fook Enterprises, and Far East Consortium each own 25 percent in the Brisbane complex. In March, they announced that they would purchase Star’s 50% stake, as well as the Treasury Hotel and Carpark.Read More>>
Indian Developer Aims To Invest $2.1B In Data Centre Initiative
Anant Raj Ltd. plans to spend INR180 billion ($2.1 billion), joining a growing number of Indian companies that are looking to take advantage of the boom in demand in India for AI and business process-led services.
A Delhi-based developer, with a market worth of $2.3 billion, will launch two additional data centres in the northern Indian state Haryana. The developer aims to reach a capacity of just over 300 megawatts in 2032, which is an addition to the existing data centre.Read more>>
Actis India Industrial JV Launches First Project in Chennai
Ample Parks, a joint venture of infrastructure-focused private equity firm Actis and Mahindra Group’s Mahindra Lifespace Developers, has announced the launch of its first industrial and logistics park in Chennai on a 71 acre (29 hectare) land parcel, with an initial investment of INR 8 billion ($93.4 million). The land parcel is located in the domestic tariff zone of the Mahindra World City development in Oragadam Industrial Corridor – Maraimalai Nagar Micro-market. Read more>>
This shortfall followed a loss of HK$425.6 millions the previous year. CSI attributed its recent challenges to changes to the fair value of investment properties, writing-down of properties for sale, and impairment of joint ventures. Read more>>
Hong Kong Golden Harvest Shuts Down Remaining Locations
Golden Harvest closed all four of its remaining locations in Hong Kong on Monday, including one which will not be leased out to a new operator. Residents were disappointed by the loss.
GH Galaxy, in Shau Kei Whan, ceased operation, while Golden Harvest’s other three cinemas – Sky at Olympian City in Tuen Mun, StagE, in Tai Po – will be leased by a new operator starting Monday.Read More>>
Hong Kong home prices not expected to rebound this year
The improving mood in Hong Kong’s real estate market has sparked hope for a sustained recovery in home values. However, analysts say the rebound will be unlikely to occur this year due to a rise in mortgage rates and an ongoing supply glut. Agents report that as of Friday, 9,150 transactions for first-hand property had been recorded this year. This is a 3.9 per cent increase from the previous year and a six-year-high since 11,580 transactions in the first half 2019 were recorded.Read More>>
Industrial Properties to Make Way for Housing in Singapore’s Bukit Merah
An Industrial Estate and a Row of Warehouses at Depot Lane, in Singapore’s Bukit Merah will be vacated in the fourth quarter 2025 in order to make room for housing. JTC Corporation, the company that manages the estate, has said the plot would be returned to state for future residential developments.
According to the Urban Redevelopment Authority master plan, Depot Lane industrial estate forms part of a site that is zoned for residential purposes. The site measures 7.3 hectares (18 acres). The plot ratio, which determines development intensity, is subject to a detailed evaluation.Read More>>
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