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

Equity Bottom-Up

<ul><li>Warburg Pincus invests in Japan living sector by acquiring a 16,000-room portfolio.</li><li>Proprium Capital beats out Ho Bee Land with a $228M bid for an Australian homebuilder.</li><li>Hillhouse's Rava secures majority stake in Dash Living with $150M investment; Ex-Macquarie exec Robson to advise on ESR privatization.</li></ul>

Warburg Pincus invests in Japan living sector by acquiring a 16,000-room portfolio.Proprium Capital beats out Ho Bee Land with a $228M bid for an Australian homebuilder.Hillhouse's Rava secures majority stake in Dash Living with $150M investment; Ex-Macquarie exec Robson to advise on ESR privatization.

Asia Real Estate Tracker (02-Apr-2025): Warburg Pincus buys Japan living sector.

<ul><li>Scape, a living platform, receives a significant investment of $434 million from Korea's NPS, boosting its growth and expansion.</li><li>Ho Bee Land makes a competitive bid of $242 million for an Australian builder, directly challenging Proprium Capital in the real estate market.</li><li>Korea's NPS joins forces with Almanac Realty in a $800 million real estate joint venture, solidifying their presence in the industry.</li></ul>

Scape, a living platform, receives a significant investment of $434 million from Korea's NPS, boosting its growth and expansion.Ho Bee Land makes a competitive bid of $242 million for an Australian builder, directly challenging Proprium Capital in the real estate market.Korea's NPS joins forces with Almanac Realty in a $800 million real estate joint venture, solidifying their presence in the industry.

Asia Real Estate Tracker (16-Jan-2025): Scape secures $434M from Korea's NPS.

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ec-world-reit" target="_blank" data-smartkarma-citation="entities:22842" rel="noopener">EC World Reit (ECWREIT SP)</a> 2Q22 DPU -9.5% YoY; Hit by the pre-termination compensation, though top-line remains stable</li>
<li>
<a href="https://www.smartkarma.com/entities/sasseur-reit" target="_blank" data-smartkarma-citation="entities:26807" rel="noopener">Sasseur REIT (SASSR SP)</a> 2Q22 DPU -1.6% YoY; Weak performance of variable rental income though occupancy improving</li>
<li>
<a href="https://www.smartkarma.com/entities/cromwell-european-real-estate" target="_blank" data-smartkarma-citation="entities:25889" rel="noopener">Cromwell European REIT (CERT SP)</a> 1H22 DPU +2.3% YoY; Weaknesses in I&amp;L reversions, overall portfolio metrics remain stable</li>
</ul>



EC World Reit (ECWREIT SP) 2Q22 DPU -9.5% YoY; Hit by the pre-termination compensation, though top-line remains stable

Sasseur REIT (SASSR SP) 2Q22 DPU -1.6% YoY; Weak performance of variable rental income though occupancy improving

Cromwell European REIT (CERT SP) 1H22 DPU +2.3% YoY; Weaknesses in I&amp;L reversions, overall portfolio metrics remain stable


ASEAN Builder's Scoop (12Aug22) - ECWREIT Steady Top-Line Due to Master Leases

<ul><li>Two 99-year leasehold developments slated for Jul22 launch; Cape Royale in Sentosa selling at an attractive S$2,103psf onwards</li><li>Sun Venture in due diligence to acquire Bugis Junction Towers</li><li>Bukit Batok EC site launched for tender under 1H22 GLS programme; Up to 8 bidders expected to participate</li></ul>

Two 99-year leasehold developments slated for Jul22 launch; Cape Royale in Sentosa selling at an attractive S$2,103psf onwardsSun Venture in due diligence to acquire Bugis Junction TowersBukit Batok EC site launched for tender under 1H22 GLS programme; Up to 8 bidders expected to participate

ASEAN Builder's Scoop (29Jun22) - Cape Royale in Sentosa Selling for S$2,100+psf Onwards

<ul><li><a href="https://www.smartkarma.com/entities/uol-group-ltd" target="_blank" data-smartkarma-citation="entities:142" rel="noopener">UOL Group (UOL SP)</a> 2H21 PATMI +126% YoY; Stronger contributions from property development and hotel properties</li><li><a href="https://www.smartkarma.com/entities/mapletree-logistics-trust" target="_blank" data-smartkarma-citation="entities:16035" rel="noopener">Mapletree Logistics Trust (MLT SP)</a> acquires South Korean Logistic at 4.0% NPI yield; Expected to be DPU accretive</li><li><a href="https://www.smartkarma.com/entities/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)</a> 2H21 net profit fell 13% YoY; Declared S$0.068/share divvy (~5.6% yield)</li></ul>

UOL Group (UOL SP) 2H21 PATMI +126% YoY; Stronger contributions from property development and hotel propertiesMapletree Logistics Trust (MLT SP) acquires South Korean Logistic at 4.0% NPI yield; Expected to be DPU accretiveYanlord Land (YLLG SP) 2H21 net profit fell 13% YoY; Declared S$0.068/share divvy (~5.6% yield)

ASEAN Builder's Scoop (1Mar22) - UOL Stronger Contributions from Prop Dev't and Hotels

Singapore

Ho Bee Land Limited develops and invests in real estate properties in Singapore and United Kingdom.  The Company also operates hotels.

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Ho Bee Land Ltd (HOBEE SP)

Asia Real Estate Tracker (02-Apr-2025): Warburg Pincus buys Japan living sector.

Warburg Pincus acquires 16,000-room portfolio in Japan, Proprium Capital outbids Ho Bee Land for Aussie homebuilder, Hillhouse's Rava invests $150M...

Asia Real Estate Tracker

Asia Real Estate Tracker (16-Jan-2025): Scape secures $434M from Korea's NPS.

Scape receives $434M investment from Korea's NPS, Ho Bee Land offers $242M for Aussie builder, and Korea's NPS partners with Almanac Realty for...

Asia Real Estate Tracker

ASEAN Builder's Scoop (12Aug22) - ECWREIT Steady Top-Line Due to Master Leases

SASSR hit by weak variable income; CERT weakness in I&L reversions; IREIT low gearing opportunities; UHU occupancies trending up; PWON reached 44%...

SCCM Asia Research

ASEAN Builder's Scoop (29Jun22) - Cape Royale in Sentosa Selling for S$2,100+psf Onwards

Sun Venture in DD for Bugis Junction Tower; Bukit Batok EC tender launched; MYR3bn infra of Tun Razak Exchange 99% completed; Phils POGOs coming back

SCCM Asia Research

ASEAN Builder's Scoop (1Mar22) - UOL Stronger Contributions from Prop Dev't and Hotels

MLT buys South Korean logistics at 4% yield; DC rates rising except for hotel use; AREIT growing AUM boosted earnings; SIRI targets +26% YoY 2022...

SCCM Asia Research

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