New World Development, a leading Hong Kong-based property developer, has launched a debt exchange offer worth up to USD 1.9 billion to restructure its existing perpetual securities. The initiative includes issuing new perpetual securities worth up to USD 1.6 billion and USD 300 million in new notes. The company aims to extend debt maturities, improve liquidity, and stabilize its capital structure amid prolonged challenges in Hong Kong's property market. Discussions involving PJT Partners and key bondholders were held last week to evaluate the proposal's terms.Read more

Dream Industrial Real Estate Investment Trust (REIT) recorded an increase in its third-quarter net rental income and funds from operations (FFO), supported by robust leasing performance and strategic acquisitions. The company achieved an 8.8% year-on-year rise in net rental income and a 4.3% increase in diluted FFO per unit. Over USD 107 million worth of acquisitions were completed in its wholly-owned portfolio, while leasing activity covered more than 2.7 million sq ft. Dream Industrial also reported a strong liquidity position exceeding USD 800 million.Read more

Boardwalk Real Estate Investment Trust reported an 11.2% year-on-year increase in adjusted funds from operations (FFO) for the third quarter, supported by an 8.1% rise in net operating income. The trust has also raised its 2025 FFO guidance to between CAD 4.58 and CAD 4.65 per unit, anticipating 8.5-10% growth in same-property NOI. Strong demand for affordable multi-family housing is expected to continue next year, with high occupancy levels and strategic capital allocation driving performance.Read more

Saudi Arabian companies are gearing up to channel billions of dollars into Syria's reconstruction, targeting energy, telecommunications and financial infrastructure. The move is led by the Saudi-Syrian Business Council and includes firms such as ACWA Power and STC. The kingdom has already pledged more than USD 6 billion for Syria, covering real estate, infrastructure and telecoms. However, U.S. sanctions-most notably the Caesar Act still hamper the flow of capital. Saudi Arabia's strategy aligns with its Vision 2030 economic diversification while also seeking to reintegrate Syria into the regional fold.Read more

Japan's Mitsubishi Corporation has started building a large urea production facility in western Turkmenistan, valued at more than USD 1.3 billion. The plant, located at Kiyanly on the Caspian Sea coast, will have the capacity to produce 3,500 tons of urea and 2,000 tons of ammonia per day. Turkey's Gap ?n?aat has been awarded the construction contract. Turkmenistan, which holds the world�s fourth-largest natural gas reserves, is looking to reduce its reliance on gas exports and boost value-added chemical production.Read more

Westpac Banking Corporation recorded a marginal fall in its annual profit to AUD 6.99 billion (USD 4.54 billion) for the year ended September, compared to AUD 7.11 billion a year earlier, though the result surpassed analyst expectations of AUD 6.83 billion. The bank continues to face strong competition in the home-lending market, with its mortgage growth trailing major rivals. Despite this, credit quality improved as home-loan arrears declined and stressed loans eased. Operating expenses rose 9% due to restructuring, technology and wage costs, while the bank maintained steady margins and declared a final dividend of AUD 0.77 per share.Read more

The Singapore government has announced plans to gazette the bungalow at 38 Oxley Road, the former home of founding Prime Minister Lee Kuan Yew, as a national monument. Built in 1898, the house was deemed of great historic value by the National Heritage Board and Singapore Land Authority for its role during the 1950s when Singapore was transitioning from a colony to an independent nation. Although Lee's will requested its demolition, the government stated it would preserve the site respectfully, removing all traces of private living areas if it becomes a public heritage space.Read more

Empiric Student Property Plc, a UK-based student accommodation operator, has reported a decline in occupancy to 89% for the ongoing academic year, compared with 95% a year ago, and expects to miss its 97% target. The drop is mainly due to fewer Chinese student tenants, slower booking activity, and supply-demand imbalances in certain regional cities. UK students now make up 43% of the total occupancy. The company, currently being acquired by Unite Group Plc, still expects rental growth of around 4.5% this year.Read more

Malaysia's Prime Minister announced that a MYR 600 million (USD 142 million) facility will soon be built in Pahang to manufacture super-magnets, marking a shift from planning to execution for the foreign-backed project. The facility, involving Australia's Lynas Rare Earths and South Korea's JS Link, follows an earlier July agreement to produce up to 3,000 tonnes of neodymium-iron-boron magnets near Lynas' Kuantan plant. Malaysia holds an estimated 16.1 million metric tons of rare-earth deposits but lacks full processing capability, and is seeking foreign partners and technology sharing.Read more

Dutch banking group Rabobank entered into an agreement worth around EUR 1 billion with pension investment firm PGGM to share credit risk across a portfolio of Dutch real estate assets. The collaboration, announced earlier this week, underscores the continued caution within the European property sector amid slow sales and uncertain credit markets. The move follows similar actions by other European banks seeking to mitigate exposure to potential market downturns.Read more