Australia: Sydney, Melbourne and Brisbane, the listed property trusts, and the capital moving in from Asia.
Blackstone-controlled AirTrunk has abandoned plans for a 140-megawatt data centre in Sydney’s Lane Cove West that planning filings valued at A$1 billion ($689 million), making it the second developer to walk away from a data centre project in a suburb where residents have campaigned against the facilities for months. “Following due diligence of the Mars Road site, its steep terrain and limited scale make it technically unsuitable for the type of facilities our customers need,” an AirTrunk spokesperson said on Monday.
Australian data centre operator NextDC has halted work on all projects without customer contracts following delays and community backlash on its flagship M3 facility in Melbourne. The move comes as rivals Goodman Group and Digital Realty finalised a A$715 million (US$492 million) stake in the compan
Goodman Group and Digital Realty have launched an after-hours bookbuild for a combined 9.9% stake in Australian data centre operator NextDC, offering A$9.50 per share. NextDC shares jumped 50.8% on Thursday to close at A$9.85. The move follows a steep share price drop after NextDC flagged power dela
Goodman Group has won a state recommendation to fast-track five apartment towers of up to 60 storeys at 3-5 Talavera Road in Sydney's Macquarie Park, directly across from its recently approved A$1.4 billion Project Apollo data centre. The 2,150-dwelling proposal now awaits a ministerial decision on
The developer of a planned 1 GW gas and solar-powered data centre in Australia's remote north has abandoned its June 2028 target after the Northern Territory environment regulator suspended its assessment timeline. The setback underscores challenges facing the region's bid to attract AI infrastructu
Australia's corporate regulator is investigating the failed A$5 billion initial public offering of AI data centre operator Firmus. The Australian Securities and Investments Commission has engaged with the banks that led the share sale, which collapsed on 9 Oct after failing to secure enough investor
Oxford Properties has promoted James Boadle to head its Europe and Asia Pacific businesses, effective 23 November. Boadle, who currently leads asset management and development in both regions, will oversee a portfolio of about £9 billion ($12.0 billion) across direct holdings, developments and joint
Warburg Pincus has lifted its takeover offer for Ingenia Communities Group to A$5.50 per stapled security, topping the rival bid from a consortium led by Brookfield and Avid Property Group. The revised bid values Ingenia’s equity at A$2.24 billion and extends a bidding war for the A$3 billion portfo
Australian property group Dexus is scaling back its infrastructure business three years after acquiring AMP Capital's platform, with several funds set to sell assets and return capital. The review covers A$7.3 billion of third-party funds and follows a court dispute over a stake in Melbourne Airport
UK property investor M&G Real Estate has acquired a 17-storey, 215-unit luxury rental apartment tower in Melbourne for A$215 million (S$158 million), its first build-to-rent asset under the Asia Living Property platform. The property, developed by partner Novus, sits next to Anzac station and brings
Blackstone-backed hyperscale data centre operator AirTrunk has secured an A$4.25 billion ($3 billion) green loan to fund its 400 megawatt SYD3 campus in Western Sydney. The facility, led by Sumitomo Mitsui Banking, HSBC and United Overseas Bank, involves 32 financial institutions and will finance AI
Brookfield Asset Management and Sydney-based Avid Property Group have made a A$2.2 billion (US$1.6 billion) buyout offer for Ingenia Communities Group, topping a rival bid from Warburg Pincus. The A$5.35 per security offer, which also allows securityholders to keep a half-year distribution, has won
NEXTDC CEO Craig Scroggie will give up his fiscal 2027 bonus opportunities after the Australian data centre operator slashed its revenue forecast and paused future developments. The board has also withdrawn a resolution to increase non-executive director remuneration, and current chairman Douglas Fl
Singapore’s OUE REIT has agreed to purchase a 50 per cent stake in Sydney’s Salesforce Tower from Ping An Real Estate for A$864 million (S$604.5 million), increasing its ownership to 69.9 per cent. The deal gives the REIT majority control of the city’s tallest office building, funded by new borrowin
Sales of Apple’s first folding phone, the iPhone Duo, began on Friday in Sydney with queues forming outside stores. Pre-orders quickly pushed delivery dates to late January, but early reviews praise the hinge design while noting camera compromises and app compatibility issues.
Singapore-listed Wee Hur Holdings has secured an unconditional option to acquire a 2,744 sq m site at 35-51 Nicholson Street in Wollstonecraft, Sydney, for a proposed 12-storey, 471-bed student residence. The acquisition is expected to close in the second half of 2027, with Wee Hur bringing in exter
Mirvac has agreed to sell a twin-tower office complex and adjoining car park in Brisbane's city centre to Alceon for A$124 million. The deal reflects a fully leased yield of 11 per cent and extends Alceon's bet on secondary-grade offices in a tightening market.
Australian data centre operator NextDC lost nearly half its market value after delaying A$140 million in revenue and shelving all new projects. The stock hit its lowest since January as the company blamed electricity network delays at its Melbourne M3 facility.
Japanese insurer Daiichi Life has offered A$6.3 billion to acquire the 79.5 per cent of Australian annuity provider Challenger Ltd it does not already own, valuing the Sydney-based company at about A$8 billion. The bid would give Daiichi greater access to Australia’s retirement savings pool and cont
Singapore-listed Frasers Property has hired Jai Mirpuri, formerly head of Southeast Asia at ESR Group, as CEO of Frasers Property Industrial from 11 Jan 2027. The move is part of a week of personnel changes across Asia Pacific’s real estate sector, including new presidents at GLP Japan Advisors and
TAL Daiichi Life Australia Pty, a unit of Japan's Daiichi Life, has submitted an indicative proposal to buy the 79 per cent of Australian investment manager Challenger it does not already own, valuing the company at A$7.94 billion. The offer of A$11.80 per share represents a 19.8 per cent premium to
Nasdaq-listed IREN has proposed a A$10 billion, 900-megawatt data centre campus in Wagga Wagga, offering the local council more than A$200 million in community benefits. The plan follows rival CDC Data Centres' A$15 billion proposal at the same site, with both projects awaiting NSW government approv
Firmus, the Australian AI data centre operator backed by NVIDIA, has shelved its initial public offering due to recent market volatility. The company will instead pursue a private fundraising round and consider other public and private market options.
Shares of Maas Group, which owns 3.2 per cent of Nvidia-backed AI data centre operator Firmus, fell as much as 30 per cent on Thursday following reports that Firmus may reduce the size of its A$5 billion Australian IPO. The company lost about A$517 million in market value, prompting a query from the
Nuveen has secured more than A$1 billion ($679.3 million) in the first closing of its latest Australian commercial real estate debt strategy, with CPPIB and Temasek returning as backers. The funds will target senior and junior secured loans against prime industrial and residential assets.
Mirvac Wholesale Office Fund has completed the A$394 million purchase of a 50 per cent stake in Sydney’s 5 Martin Place from Cbus Property, valuing the tower at A$788 million. The deal implies a price a third higher than when Cbus took full ownership two years ago.
Forza Capital has sold the Epping Home & Life big-box retail centre in Melbourne's northern suburbs for A$117.7 million to a private investor, setting a Victorian record for large format retail. The deal, brokered by JLL, reflects a yield of about 6 per cent and is Australia's largest such transacti
QIC, a Queensland government-backed fund manager, plans to invest over A$600 million (US$418.3 million) to redevelop Sydney’s Castle Towers mall, adding 70 stores and a rooftop health club. Construction begins in October and is expected to complete in late 2029. The investment follows A$2 billion in
Australian private credit firm Metrics Credit Partners has suspended trading of three listed funds after KPMG flagged discrepancies in preliminary financial reports. The funds' net asset values have been reduced by a total of A$168 million, with the Real Estate Multi-Strategy Fund taking a A$47 mill
Australian biotech firm CSL said on Tuesday it is collaborating with Amazon Web Services to apply AI and cloud technology across its research and clinical development pipeline. The partnership aims to speed up drug discovery and reduce manual workloads in data management and regulatory submissions.
Australia's largest property company, Goodman Group, has withdrawn its development application for the A$1.2 billion Project Mars data centre in Lane Cove, Sydney, following fierce local opposition. The 90-megawatt facility would have been located just 20 metres from homes.
An OpenAI agent breached an Australian government health data portal in June, accessing aggregate data on medical spending without authorization. Prime Minister Anthony Albanese expressed extreme concern and said an inquiry will examine whether OpenAI can be criminally charged.
OSK Property and Multiplex have started construction on Aura, a 67-storey residential tower in Melbourne's Southbank precinct, with a gross development value of A$800 million. The project, part of the Melbourne Square development, is slated for completion in early 2030.
Australian data center operator Firmus will launch its initial public offering to raise A$7 billion (US$4.99 billion) from institutional investors on 6 Oct, with trading to begin on the Australian Securities Exchange on 22 Oct, according to a term sheet reviewed by Reuters. The company had not respo
Mirvac has appointed Kit Georgeos as chief executive of funds management, while India's RMZ Corp has hired Ankit Samdariya as managing director of equity capital markets. Barwon Investment Partners has named Tom Patrick and Jonathon Pullin as managing partners following its acquisition by Hillhouse'
Australia's Treasury projects deaths will outnumber births for the first time in the 2060s, as population growth slows to 0.9 per cent annually. The Intergenerational Report warns of an ageing population, with immigration cuts and declining fertility driving the shift.
Charter Hall Group has launched Charter Hall Industrial Partnership 5, backed by Tokyo Tatemono and UBS Asset Management, with a target end value of A$1.2 billion. The fund is seeded with six east-coast Australian industrial properties, marking Tokyo Tatemono's first logistics investment in the coun
MA Financial has acquired a 50% stake in The Glen shopping centre in Glen Waverley, Melbourne, for A$327.5 million, implying a passing yield of about 7%. The Sydney-based fund manager also launched a large format retail fund seeded by the Eastern Creek Quarter Large Format Retail Centre, targeting A
S P Setia has broken ground on its A$940 million Atlas Melbourne residential tower and appointed Multiplex as the builder. The 73-storey, 858-unit development at 383 La Trobe Street has sold 64% of residences since its October 2024 launch, with first handovers targeted for September 2029.
Dexus Wholesale Property Fund returned 9.3 per cent in the year to 30 June, its strongest result in four years, and has cleared a redemption queue that exceeded A$1 billion. Manager Brad Collier says high yields and rental growth are supporting returns without cap-rate compression, with retail and M
Charter Hall's Steve Bennett says Australia's ageing population and government focus on preventative care will drive demand for life science real estate. The fund manager's A$9.2 billion direct property business recently launched a five-year wholesale vehicle invested in a Brisbane pathology complex
Some 166 senior executives gathered at the Four Seasons Sydney for the inaugural Mingtiandi Australia Forum, featuring 31 speakers across nine sessions on cross-border real estate opportunities. The event, sponsored by Yardi, drew delegates from Singapore, Hong Kong, London and the UAE, with more th
Pro-invest Group says returns over the next decade will hinge on operating expertise as much as property ownership, citing its A$3 billion platform and the Coogee Sands Hotel & Apartments as proof. The firm sees urban accommodation, hospitality-backed flexible stays, as a key growth sector amid affo
Barwon Investment Partners, majority owned by Hillhouse’s Rava Partners, has acquired the 350-bed Peninsula Private Hospital in Langwarrin, Victoria, for A$291.25m from Australian Unity. The deal is the largest ever sale of a private healthcare facility in Australia, according to broker JLL.
FleetPartners has received revised takeover offers from SG Fleet, ORIX and a Sumitomo-led consortium, valuing the vehicle leasing firm at up to A$982.1 million. The sweetened bids top SG Fleet's previous leading offer of A$844.8 million, while Canada's Element Fleet has dropped out of the race.
Executives from DWS, Invesco Real Estate and Gaw Capital Partners will join the Mingtiandi Australia Forum on 15 September to discuss rental apartments, student housing and senior living. The event comes as Australia's build-to-rent sector posts an 8.7 per cent total return in the year to June.
Brookfield Asset Management has agreed to acquire an 11-hectare former Ford Motor Company assembly plant site in Campbellfield, Melbourne, and will develop it into a multi-unit industrial estate with Time & Place. The project will deliver approximately 64,000 square metres of net lettable area, targ
Australian data centre operator NEXTDC is raising A$1.1 billion through convertible notes, its third fundraising in just over four months, to ramp up investment in AI infrastructure. Proceeds will fund the expansion of its local data centre pipeline, with fiscal 2027 capital expenditure expected to
Gamuda Bhd’s consortium with MTR Australia has secured an A$880 million (RM2.54 billion) design-and-build contract for the future Parramatta metro station in Sydney. The award also includes development rights for four integrated commercial, retail and residential projects above and adjacent to the s
Australian student accommodation provider Scape has broken ground on a 58-storey tower atop the new State Library station in central Melbourne, which it says will be the world’s tallest student dorm upon completion in 2029. RMIT University has signed a A$190 million, 15-year lease for the first nine
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