Real Estate Development

Debao Property

Debao Property Reports Annual Loss of 75.7 Million Yuan and Revenue of 82.322 Million Yuan

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Abundance

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Asiatic

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Teho

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Jadason

Tengah Garden Residences, Singapore's first private condo in the developing Tengah New Town, will launch for public previews on April 11. The 863-unit development features one- to four-bedroom units priced from $980,000. Developed by Hong Leong Holdings, GuocoLand, and CSC Land Group, it includes nine 16-storey blocks with amenities like pools and clubhouses. The project is BCA Green Mark Platinum certified and offers smart home features. It has direct access to Hong Kah MRT station and is well-connected to major expressways. The area is set for significant growth with planned infrastructure and educational institutions.

Asiaone

Hong Leong Fin

Hong Leong Asia

GuocoLand

This new Tengah condo will launch from $980,000 - the first private condo in Forest Town

AirTrunk has engaged banks including Citigroup and DBS for a potential IPO in Singapore, aiming to raise over US$1 billion. The listing could reach up to US$1.5 billion, surpassing NTT DC REIT's US$773 million IPO last year. Backed by Blackstone, AirTrunk was valued at A$24 billion in a 2024 acquisition. The company operates data centres in Hong Kong, Japan, Malaysia, and Singapore.

Businesstimes News

Citigroup

AirTrunk hires banks for Singapore IPO that could raise over US$1 billion: sources

Retail sales in Singapore rose 8.3% in February, aided by the timing of Chinese New Year. Hong Leong Holdings will preview Tengah Garden Residences on April 11, starting at S$1,779 psf. Singapore's property investment sales reached a record S$15.4 billion in Q1, up 166.5% year on year. Indonesia will permit airlines to increase fuel surcharges due to rising aviation costs. A poll shows over 90% of Singapore businesses prefer government aid to mitigate costs from the Iran war. Senior counsel Danny Ong urges lawyers to embrace unconventional approaches in their practice.

Daily Debrief: What Happened Today (Apr 6)

AirTrunk, a data centre operator acquired by Blackstone in 2024, has selected Citigroup, DBS Group Holdings, and Jefferies Financial Group to assist in its upcoming Singapore Reit IPO, potentially raising around US$1.5 billion. The IPO is expected to occur this year, driven by increasing investments in data centres amid the AI technology boom. Details regarding the IPO's size and timing are still being finalized, and additional banks may be involved. AirTrunk operates data centres across several countries, including Australia and Singapore.

Blackstone

Jefferies Financial

Blackstone’s AirTrunk picks banks for Singapore Reit IPO: sources

Ripple has joined Singapore's Monetary Authority initiative, BLOOM, to test programmable cross-border trade settlements using its stablecoin RLUSD. The project aims to enhance settlement capabilities with tokenized bank liabilities and automate payments through Unloq's SC+ platform. This initiative includes major financial institutions and focuses on interoperability and compliance in digital payments. Ripple's participation aligns with its expansion in regulated markets, following its acquisition of an Australian Financial Services License and a significant share buyback.

The Block

Ripple joins Singapore central bank initiative to test RLUSD trade settlements

Australian data centre company AirTrunk is significantly investing in Singapore, with plans for a potential Reit IPO. CEO Robin Khuda announced an investment of approximately S$3 billion and aims to expand its workforce from 115 to nearly 350 by 2030. AirTrunk is exploring various capital-raising options, including asset-backed securities and equity stakes in stabilized data centres. The company also plans to enter the Indian market and build data centres in Saudi Arabia, despite ongoing regional conflicts. Khuda emphasized the long-term potential of data centres in the AI economy.

Data centre giant AirTrunk bets big on Singapore, mulling Reit IPO

Asian markets opened lower on February 6, with significant losses following a sell-off in US tech stocks and cryptocurrencies. Yangzijiang Shipbuilding saw a 5.3% drop, losing over S$700 million in market capitalization, influenced by Maersk's earnings decline and job cuts. The Straits Times Index fell 0.7%, with DBS, OCBC, and Singtel also declining. Hong Kong's Hang Seng Index dropped 2%, while South Korea's Kospi fell 3.9%. The S&P 500 and Nasdaq 100 in the US also experienced losses, with Bitcoin's value halving in three months.

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STI ETF

Singapore, Asia markets bleed as Wall Street rout deepens; YZJ Shipbuilding sinks over 5%

Debao Property(BTF.SG)