Australia: Sydney, Melbourne and Brisbane, the listed property trusts, and the capital moving in from Asia.
QIC, the Queensland government-backed fund manager, plans to invest more than A$600 million (US$418.3 million) to redevelop the Castle Towers shopping centre in Sydney’s north-west. Work on the mall, located in Castle Hill about 34 kilometres from the central business district, is set to start in October, QIC said in a statement on Tuesday. The project will rework about 30,000 square metres (322,917 square feet) across four levels, adding 70 stores and a 6,000-square-metre rooftop health club. QIC expects to complete the project in late 2029 and said the centre will remain open during construction. The spending comes after a series of QIC retail divestments in Australia.
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Australia's largest property company, Goodman Group, has withdrawn its development application for the A$1.2 billion Project Mars data centre in Lane Cove, Sydney, following fierce local opposition.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
Commercial real estate trading in Australia rose 13% in Q2 2026, MSCI reports, as Investa CEO Peter Menegazzo is set to appear in a spotlight interview at the Mingtiandi Australia Forum on 15 September. Menegazzo will discuss the firm's recent A$558m North Sydney acquisition and a subsequent A$1.8bn
Australian senior housing provider Eureka Group has agreed to acquire six retirement properties in New South Wales from Ingenia Communities Group for A$123.8 million. The deal adds 953 established sites and will be partly funded by an A$80.2 million entitlement offer and a new A$80 million debt faci
Dexus fund manager Brad Collier will join Blackstone, Brookfield and DWS executives at the Mingtiandi Australia Forum on 15 September at the Four Seasons Hotel in Sydney. More than 200 industry leaders are expected to attend the inaugural event, which covers commercial, industrial, living and hospit
Singapore developer Hoi Hup has paid A$201.8 million to acquire the Four Points by Sheraton Sydney, Central Park from US private equity firm KSL Capital Partners. The 309-room hotel in Chippendale marks Hoi Hup's first commercial property investment in Australia.
Raphael Arndt will step down as chief executive of Australia's Future Fund at year's end after growing AUM to A$356 billion. Mapletree Industrial Trust Management appoints Anand Tze Ming Chandran as CEO from 1 Oct. ESR names Dalmar Sheikh as CEO of its data centres unit.
Australian data centre developer NextDC reported higher water and energy consumption in the past year, with both key efficiency ratios worsening for a third consecutive year. The company swung to an A$82.1 million profit, beating forecasts, as demand for computing capacity surged.
Brookfield has acquired Cornerstone Logistics Estate, a A$225m multi-unit project in Sydney's Penrith, lifting its ANZ logistics platform to 10 investments worth A$3bn. The 47,000 sqm estate is being developed with Precinct Capital at Nepean Business Park, targeting completion by mid-2027.
Australian senior housing provider Ingenia Communities has agreed to buy ASX-listed residential developer Peet in a deal valued at A$992.3 million (US$713.1 million). The transaction will add 7,000 development lots to Ingenia's pipeline and create the largest ASX-listed living sector platform by dev
Scentre Group has received regulatory clearance to sell a 50% stake in Brisbane's Westfield Mt Gravatt to Australian Retirement Trust for A$882.5 million. The deal, which values the mall at A$1.74 billion, is set to close before 30 September and marks the latest in a series of asset joint ventures b
Zerra DC, the data centre arm of Singapore-based AGP Sustainable Real Assets, has filed plans for a 1.44-gigawatt campus in rural Queensland with an estimated construction cost of A$14.5 billion. The Western Downs Digital Park would be Australia’s largest data centre campus, built in stages on a 726
Australia’s Federal Court has found eHarmony engaged in misleading or deceptive conduct over its subscription services, including automatic renewals and pricing disclosures. The ACCC brought the case in September 2023, and penalties are yet to be determined.