Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

Blackstone’s Data Center Platform $185 Billion Valuation: LONG NextDC as Ultimate Listed Infra Trade

Power Is the New Land: Logistics REITs Pivot to Hyperscale AI Data Centers

The 6.4 GW Sovereign of Silicon: GMG the Ultimate Structural Tollbooth for Global AI Infra

Australia's Cyclical Recovery: Value Opportunities in Undervalued Office and Retail REITs

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Thematic (Sector/Industry)

Australia Real estate / Thematic (Sector/Industry)

<ul>
<li>Hyperscale outbidding: Data centre developers are paying up to 182.1% industrial land premiums, breaking traditional logistics feasibility and creating a peak-valuation capital recycling opportunity for incumbent landlords.</li>
<li>Grid exhaustion: Australia's 16.2 GW data centre pipeline faces severe grid constraints by 2029, forcing a structural pivot toward regional Renewable Energy Zones and private transmission infrastructure.</li>
<li>Strategic trades: Go long Goodman Group and NextDC for moat-protected yields and land-banking arbitrage, while shorting unhedged secondary logistics developers exposed to margin erosion and stranded pipelines.</li>
</ul>


Hyperscale outbidding: Data centre developers are paying up to 182.1% industrial land premiums, breaking traditional logistics feasibility and creating a peak-valuation capital recycling opportunity for incumbent landlords.
Grid exhaustion: Australia's 16.2 GW data centre pipeline faces severe grid constraints by 2029, forcing a structural pivot toward regional Renewable Energy Zones and private transmission infrastructure.
Strategic trades: Go long Goodman Group and NextDC for moat-protected yields and land-banking arbitrage, while shorting unhedged secondary logistics developers exposed to margin erosion and stranded pipelines.


The 155bn AUD Digital Land Grab: Arbitraging Australia's Gridlock