An NTT hyperscale campus in Navi Mumbai (Image: NTT Global Data Centers)
NTT’s data centre division picks up a Mumbai site from a Bollywood legend, with that deal leading today’s headline roundup. Also in the news, Hong Kong’s New World Development launches a southern district project at record low prices and Singapore real estate sentiment sours.
NTT Buys Mumbai Data Centre Site From Bollywood Star
Japan’s NTT Global Data Centers has purchased a Mumbai-area data centre site from entities controlled by an Indian movie star and his family, according to local press accounts citing official records.
NTT acquired the land parcel in Andheri’s Balaji IT Park for INR 8.6 billion ($100 million) from veteran Bollywood actor Jeetendra and his family-owned firms, according to property registration documents. The transaction was registered in May. Read more>>
New World Prices Hong Kong Project at Record Low
New World Development launched a luxury residential project on the south side of Hong Kong Island at a record low price as the embattled builder aims to accelerate property sales amid debt concerns.
The firm priced the first batch of 101 apartments in its co-developed Deep Water Pavilia project at HK$20,932 ($2,668) per square foot. The pricing marks the lowest of any new residential project in the city’s posh southern district, according to Centaline Property Agency. Read more>>
Singapore Real Estate Sentiment Soured in Q1: NUS Poll
Real estate leaders in Singapore were significantly more pessimistic in the first quarter of 2025, as sentiment soured after the rollout of tariffs in the US caused heightened economic uncertainty.
The National University of Singapore’s Composite Sentiment Index, a quarterly barometer of general prevailing sentiment, fell to 4.3 in the first quarter from 6 in the previous quarter. The turn in sentiment follows five straight quarters of upward movement during the market’s recovery from the April 2023 property curbs. Read more>>
Development Challenges Deterring Singapore Data Centre Investment
Land scarcity, high land prices and sustainability requirements in Singapore are keeping data centre investors and asset managers at bay, a poll by the National University of Singapore suggests.
Only one-third of respondents surveyed rated Singapore’s data centre market positively in terms of competitiveness and investment appeal, relative to others in the region. Read more>>
Japan to Allow REITs to Include Data Centre Hardware in Portfolios
Japanese financial authorities plan to allow REITs to include certain data centre hardware in their portfolios, aiming to bring in more funds to a growth area and give retail investors more options.
REITs can already purchase data centres. But under Japanese law, buildings and other real estate must account for at least 50 percent of a REIT’s portfolio. The floor is set at 70 percent for REITs listed on the Tokyo Stock Exchange. Read more>>
Bank of Korea Compares Economy to Japan’s Bubble Era
An analysis has emerged suggesting that South Korea’s economy resembles Japan’s bubble economy collapse in the early 1990s.
The Bank of Korea revealed the findings in a report titled “BOK Issue Note: Lessons to Learn from the Japanese Economy”. The text diagnosed that South Korea’s economic situation is similar to Japan’s after World War II when the latter faced issues like household debt growth and an ageing population. Read more>>
Traders Hunt Clues of Activist Action in Japan’s Listed Companies
Traders are scouring notices of annual general meetings to pick up signals about activist holdings in Japanese companies and profit from potential spikes in stock prices.
Tucked away at the bottom of a company’s annual general shareholder notice is a list of the firm’s top 10 shareholders, which provides names of the investors or custodians that hint at possible activist involvement. Sumitomo Osaka Cement and auto parts maker KYB Corp were among stocks that jumped last week after activist investor Aya Nomura’s name appeared in the AGM letter, listed as a stakeholder. Read more>>
US Law Firm Seyfarth Shaw Closing Shanghai Office
Seyfarth Shaw is planning to close its Shanghai office later this year, as major US law firms continue to reduce their footprints in the Chinese legal market.
The Chicago-founded firm, which has about 900 lawyers globally and is known for its labour and employment work, will continue to serve clients in the region by consolidating its presence in Hong Kong, a spokesperson said Thursday. Seyfarth’s website lists six lawyers in Shanghai, where it opened in 2013, and several of the lawyers are co-located in Hong Kong or elsewhere. The team advises clients on cross-border transactions, among other areas like real estate and employment, according to the website. Read more>>
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