Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>GIC has made a significant investment of $500 million in Japan's residential sector via Hillhouse's Samty.</li><li>JD and Rava's EZA Hill have successfully acquired four warehouses in Singapore for $237 million from CapitaLand REIT.</li><li>The Australian Retirement Trust is poised to purchase a 48.5% stake in the $1.1 billion Mirvac Build-to-Rent Fund.</li></ul>

GIC has made a significant investment of $500 million in Japan's residential sector via Hillhouse's Samty.JD and Rava's EZA Hill have successfully acquired four warehouses in Singapore for $237 million from CapitaLand REIT.The Australian Retirement Trust is poised to purchase a 48.5% stake in the $1.1 billion Mirvac Build-to-Rent Fund.

Asia Real Estate Tracker (22-Dec-2025): GIC invests $500M in Japan residential through Samty.

External broker reports(aggregated public sources), Vietcap

Vietcap

External broker reports(aggregated public sources)

We specialize in consulting both individual and institutional clients, providing them with effective financial solutions that are tailored to their specific needs.

Equity Bottom-Up

<ul>
<li>We have an optimistic view on Gelex Infrastructure’s earnings growth outlook with its low net debt/equity (~38%) and strong operating cashflow (~VND6.0tn p.a.).</li>
<li>GEI operates in four different businesses with varying risk exposure and its target price is usually derived via a conglomerate discount.</li>
<li>We assume its IPO will be successful at VND28,000/share.</li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


We have an optimistic view on Gelex Infrastructure’s earnings growth outlook with its low net debt/equity (~38%) and strong operating cashflow (~VND6.0tn p.a.).
GEI operates in four different businesses with varying risk exposure and its target price is usually derived via a conglomerate discount.
We assume its IPO will be successful at VND28,000/share.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GEI - New Residential Segment Drives Growth; IP Land Sales Recover

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Zhong Ao Home Group Limited is an independent property management company in China. The Company provides property developers and owners with management services to residential properties. Zhong Ao Home Group also offers sales assistance by deploying on-site staff.

<ul>
 <li>
<a href="https://smartkarma.com/entities/zhong-ao-home-group-ltd">Zhong Ao Home</a> is a small, independent property management company in China facing a challenging market, characterized by stagnant revenue and declining profitability over the past several years.</li>
 <li>The company's stock appears undervalued on traditional metrics (P/E, P/B) and offers a high dividend yield, which may attract value and income-oriented investors.</li>
 <li>Significant headwinds persist, including intense competition within a fragmented industry and a reliance on the troubled Chinese real estate sector, creating high uncertainty for future growth.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Zhong Ao Home is a small, independent property management company in China facing a challenging market, characterized by stagnant revenue and declining profitability over the past several years.
  The company's stock appears undervalued on traditional metrics (P/E, P/B) and offers a high dividend yield, which may attract value and income-oriented investors.
  Significant headwinds persist, including intense competition within a fragmented industry and a reliance on the troubled Chinese real estate sector, creating high uncertainty for future growth.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Zhong Ao Home (1538 HK) - Dec 2025

New World Development Company Limited, through its subsidiaries, develops and invests in properties, provides contracting services, property management, and transportation services.  The Company also operates infrastructure business, telecommunication services, department stores, hotels and restaurants, and media and technology business.

<ul>
 <li>
<a href="https://smartkarma.com/entities/new-world-development">New World Development</a> (NWD) is a high-leverage property developer currently trading at a significant discount to its book value, positioning it as a high-risk, high-reward play on the Hong Kong property market and future interest rate cuts.</li>
 <li>The company has experienced severe financial distress, reporting substantial net losses and negative cash flows over the past two years, leading to a sharp dividend cut and a deeply negative growth track record across all key metrics.</li>
 <li>Management is actively pursuing a deleveraging strategy through asset disposals and debt management, such as the recent exchange offer for its perpetual securities. The success of these initiatives is critical to navigating the challenging market and restoring investor confidence.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
New World Development (NWD) is a high-leverage property developer currently trading at a significant discount to its book value, positioning it as a high-risk, high-reward play on the Hong Kong property market and future interest rate cuts.
  The company has experienced severe financial distress, reporting substantial net losses and negative cash flows over the past two years, leading to a sharp dividend cut and a deeply negative growth track record across all key metrics.
  Management is actively pursuing a deleveraging strategy through asset disposals and debt management, such as the recent exchange offer for its perpetual securities. The success of these initiatives is critical to navigating the challenging market and restoring investor confidence.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: New World Development (17 HK) - Dec 2025

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

China Vanke Co., Ltd. operates real estate development businesses.  The Company provides housing renovation, housing loans, real estate brokerage, and other businesses. China Vanke also operates logistics, material supply, and other businesses.

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: GMR Hyderabad, China Vanke</li>
<li>Fitch has downgraded the issuer default rating on China Vanke, as well as the senior unsecured notes rating on Vanke HK, to C from CCC-/CC.</li>
<li>The downgrade follows Vanke's entry into a five-day grace period for a CNY 2 bn onshore bond that matured on 15 December 2025, which indicated heightened default risk</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: GMR Hyderabad, China Vanke
Fitch has downgraded the issuer default rating on China Vanke, as well as the senior unsecured notes rating on Vanke HK, to C from CCC-/CC.
The downgrade follows Vanke's entry into a five-day grace period for a CNY 2 bn onshore bond that matured on 15 December 2025, which indicated heightened default risk


Real Estate
Real Estate Insights

Asia Real Estate Tracker (22-Dec-2025): GIC invests $500M in Japan residential through Samty.

GIC invested $500M in Japan's residential sector, JD and Rava's EZA Hill bought Singapore warehouses for $237M, and Australian Retirement Trust...

Asia Real Estate Tracker

GEI - New Residential Segment Drives Growth; IP Land Sales Recover

We have an optimistic view on Gelex Infrastructure’s earnings growth outlook with its low net debt/equity (~38%) and strong operating cashflow...

Vietcap

Primer: Zhong Ao Home (1538 HK) - Dec 2025

Zhong Ao Home is a small, independent property management company in China facing a challenging market, characterized by stagnant revenue and...

αSK

Primer: New World Development (17 HK) - Dec 2025

New World Development (NWD) is a high-leverage property developer currently trading at a significant discount to its book value, positioning it...

αSK

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: GMR Hyderabad, China Vanke

Lucror Analytics