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>Cambridge, a Singapore-based firm, purchases a Sydney office block for $70M from a former Tysan boss, expanding its real estate portfolio</li><li>Hong Kong Land reports a significant increase in losses, totaling $1.4B, attributed to challenges within its Central Portfolio</li><li>M&amp;G Real Estate invests $62M in student housing in Melbourne, Australia, highlighting their focus on the Australian real estate market. Warburg Pincus forms a partnership with SK Group to develop Korean senior living facilities, tapping into the growing demand for elderly care in South Korea.</li></ul>

Cambridge, a Singapore-based firm, purchases a Sydney office block for $70M from a former Tysan boss, expanding its real estate portfolioHong Kong Land reports a significant increase in losses, totaling $1.4B, attributed to challenges within its Central PortfolioM&amp;G Real Estate invests $62M in student housing in Melbourne, Australia, highlighting their focus on the Australian real estate market. Warburg Pincus forms a partnership with SK Group to develop Korean senior living facilities, tapping into the growing demand for elderly care in South Korea.

Asia Real Estate Tracker (11-Mar-2025): Singapore buying Sydney office for $70M.

<ul><li>Warburg Pincus and SK Group have joined forces to launch a new senior living venture in Korea.</li><li>KKR, APG, Gaw, and Alyssa will be participating in discussions about residential trends on MTD TV Forum.</li><li>Alyssa has extended its partnership with Dai-Ichi Life for the management of 669 Japanese apartments.</li></ul>

Warburg Pincus and SK Group have joined forces to launch a new senior living venture in Korea.KKR, APG, Gaw, and Alyssa will be participating in discussions about residential trends on MTD TV Forum.Alyssa has extended its partnership with Dai-Ichi Life for the management of 669 Japanese apartments.

Asia Real Estate Tracker (10-Mar-2025): Warburg Pincus teams with SK Group for Korean senior living.

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>SK Inc plans to use SK Hynix as a dividend machine, boosting payouts to ₩3 trillion, and if it absorbs SK Square, it could pocket ₩600 billion—doubling SK Telecom's dividends.</li>
<li>SK Inc will likely use ₩5 trillion from the SK Telecom deal for a tender offer, boosting its stake in SK Square to 60-70% before merging to minimize dilution.</li>
<li>The SK Telecom deal and potential SK Square tender offer could be the main narrative driving SK Group stocks this year, making SK Square a key momentum play.</li>
</ul>


SK Inc plans to use SK Hynix as a dividend machine, boosting payouts to ₩3 trillion, and if it absorbs SK Square, it could pocket ₩600 billion—doubling SK Telecom's dividends.
SK Inc will likely use ₩5 trillion from the SK Telecom deal for a tender offer, boosting its stake in SK Square to 60-70% before merging to minimize dilution.
The SK Telecom deal and potential SK Square tender offer could be the main narrative driving SK Group stocks this year, making SK Square a key momentum play.


SK Stocks’ Main Narrative: SK Telecom Exit & SK Inc Eyeing SK Square

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>Now that Lee Jae-Myung has become new South Korean President, the uncertainty revolving who will lead South Korea in the next five years is now over.</li>
<li>In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the market for the remainder of 2025.</li>
<li>The four investment themes include Korean Holdcos/Quasi Holdcos, Korean Cultural Contents, Securities, and SK Group Companies.</li>
</ul>


Now that Lee Jae-Myung has become new South Korean President, the uncertainty revolving who will lead South Korea in the next five years is now over.
In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the market for the remainder of 2025.
The four investment themes include Korean Holdcos/Quasi Holdcos, Korean Cultural Contents, Securities, and SK Group Companies.


Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

<ul>
<li>On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma enterprise value of about $7.3 billion. </li>
<li>WeBull had 4.3 million funded accounts and  $8.2bn in assets under custody at end of 2023. In comparison, Robinhood had 23.4mn funded accounts and $102.6bn in assets under custody. </li>
<li>Given the numerous material concerns about this deal, we would avoid it. There are no financials including income statement and balance sheet of WeBull in the prospectus. </li>
</ul>


On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma enterprise value of about $7.3 billion. 
WeBull had 4.3 million funded accounts and  $8.2bn in assets under custody at end of 2023. In comparison, Robinhood had 23.4mn funded accounts and $102.6bn in assets under custody. 
Given the numerous material concerns about this deal, we would avoid it. There are no financials including income statement and balance sheet of WeBull in the prospectus. 


A Merger Between WeBull and SK Growth Opportunities Corp in NASDAQ

South Korea

SK Holdings Co., Ltd. is a holdings company that is engaged in various industries including energy, chemicals, information technology, semiconductors, marketing, and services businesses in South Korea and internationally.

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SK Inc (034730 KS)

Asia Real Estate Tracker (11-Mar-2025): Singapore buying Sydney office for $70M.

Real estate deals in Asia-Pacific: Singapore's Cambridge buys Sydney office block, Hong Kong Land's losses double, M&G Real Estate acquires student...

Asia Real Estate Tracker

Asia Real Estate Tracker (10-Mar-2025): Warburg Pincus teams with SK Group for Korean senior living.

Warburg Pincus, KKR, APG, Gaw, and Alyssa collaborate with SK Group and Dai-Ichi Life for senior living ventures and residential trends in Korea...

Asia Real Estate Tracker

SK Stocks’ Main Narrative: SK Telecom Exit & SK Inc Eyeing SK Square

This post summarizes the key market narrative around SK Group stocks: SK Telecom’s exit and SK Inc potentially eyeing the absorption of SK Square.

Sanghyun Park

Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the...

Douglas Kim

A Merger Between WeBull and SK Growth Opportunities Corp in NASDAQ

On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma...

Douglas Kim

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