AGP Executive Report

Senior Living & Healthcare Demand: Malaysia’s ageing shift is accelerating fast, with the share of citizens 65+ projected to jump from 8.1% (2024) to 14.5% by 2040, pushing up demand for long-term care and senior-focused housing. Medical Tourism Housing Pressure: A Delhi B&B fire that killed 21—many foreign patients or caregivers—spotlights how “medical travellers” are squeezed into unsafe, tightly regulated urban enclaves near hospitals. High-Rise Safety Rules: India’s high-rise boom is colliding with implementation gaps; the National Building Code outlines fire alarms, sprinklers, refuge areas and stair/elevator requirements for buildings above 15m. Institutional Rental Push in Korea: Tishman Speyer’s Korea Living Venture secures a $300m first close from European pension investors to fund Seoul-area multifamily and accommodation assets near transport and universities. Urban Renewal in Mumbai: HSBC highlights Adani’s Dharavi redevelopment plan to rehabilitate about 125,000 homes and create a smart, multi-modal transport hub with new public spaces. Housing Policy & Governance (India): A housing society Q&A tackles occupancy and paying-guest rules, showing how local bye-laws and state cooperative laws shape day-to-day rights. Real Estate Finance Liquidity (Healthcare): Cosmos Health flags about $20m in monetizable non-core assets, including real estate, as it looks to strengthen its balance sheet. Tech-Driven AI Collaboration (Pakistan): Engro and Baidu sign an MoU to explore AI infrastructure, research, talent and applications across the region.

China Housing: Shanghai’s existing-home market kept momentum into May, with 28,023 transactions—its highest for the month since May 2021—while Beijing also hit 16,008 deals, up about 12% year-on-year, signaling a broader recovery in core cities. Vietnam Tech FDI: Ho Chi Minh City is pulling in major digital-economy investment, with new data centre and AI-linked projects worth about $1.23bn approved in late April alone, reinforcing its role as a tech FDI magnet. Infrastructure Innovation: AECOM and the Urban Land Institute launched the inaugural Asia Pacific Infrastructure Innovation Index 2026, mapping how regional players are prioritizing innovation for resilience and delivery amid rising system complexity. Singapore Logistics Real Estate: CapitaLand Ascendas REIT agreed to buy a fully occupied Tuas logistics facility for S$133.9m, aiming to strengthen its western Singapore footprint as port-linked demand grows. India Housing Policy: India’s Cabinet approved a ₹9,585 crore Delhi-NCR clean mobility scheme to replace older trucks and buses with BS-VI and EVs, targeting about 2.07 lakh vehicle owners. Vietnam Urban Retail Deal: Kim Oanh Group partnered with Central Retail Vietnam to co-develop and operate shopping centres and hypermarkets across Vietnam, expanding urban amenity ecosystems. Japan Real Estate Capital: Activist investors are building stakes in Japanese rail operators, betting they can unlock value from underused property holdings. Pakistan Housing & Remittances: A report highlights how remittance-driven wealth is reshaping property demand in Pakistan, with overseas income often steering families toward villa-style construction over local agricultural development.

Regulatory Enforcement (India, Telangana): TG RERA ordered Balaji Elegancia (Kompally) to finish promised common amenities within 60 days and clear inspection dues after villa owners complained of long delays. Housing & Livability (India, Delhi-NCR): India’s Cabinet approved a ₹9,585 crore two-year scheme to cut pollution and push cleaner vehicles in Delhi–NCR, targeting about 2.07 lakh truck and bus owners. Urban Heat Planning (India): UNDP India warned cities can’t just add cooling; it urged walkability, green/blue spaces, mixed land use and climate-sensitive design to reduce heat exposure. AI Infrastructure & Real Estate (Australia): IREN shares jumped after announcing an 800MW data center in Bundey, South Australia, with major power and fiber connectivity plans. Capital Markets (South Korea): South Korea held key local elections as a first major political test for President Lee Jae-myung, with Seoul and other metros closely watched. Foreign Investment (Pakistan): One Homes announced a further $35m investment in Lahore after One Canal Road’s success, signaling continued luxury residential momentum. Market Risk (China): Reports highlighted China’s property stress spilling into services providers, keeping sentiment cautious. Policy & Security (Russia): A new law would let authorities seize property of Russians abroad in absentia cases, raising legal and asset-risk concerns for cross-border owners.

Foreign Buyer Curbs (Japan): Japan has delayed proposed restrictions on foreigners buying real estate until fall, as lawmakers weigh national security concerns near sensitive sites. Urban Renewal & Office Demand (Hong Kong): Central Crossing, a new dual-tower mixed-use project in Central, is positioned as the next step for premium office tenants seeking modern, connected lifestyle space. Land & Housing Supply (Singapore): Singapore will release land for about 4,745 private homes in H2 2026 and move a Jurong Lake District “Town Hall Link” white site to the confirmed list to keep the mixed-use business district on track. Property Market Pulse (China): Shanghai’s second-hand market rebounded in May with the highest transaction volume in six years, while China’s property management firms face fee collection stress that could weigh on prices. Government Land Oversight (Pakistan): Pakistan’s National Assembly panel backs a bill to create a Federal Government Real Estate Management Authority to tackle encroachments and improve returns. Green Commuter Infrastructure (Philippines): Mandaluyong is working with South Korean researchers on solar-powered waiting sheds to upgrade public transport hubs. Developer/Capital Signals (Asia PE): Blackstone closed a record $13.1bn Asia private equity fund, underscoring continued investor appetite for the region’s real estate and related assets.

Waste-to-energy backlash (Manila): Environmental groups and urban-poor advocates renewed calls to stop a proposed P26.648bn, 100MW waste incineration plant at Smokey Mountain, citing alleged environmental violations and fears of deeper health and displacement risks for nearby communities. Urban planning capacity (Odisha, India): ITPI urged Odisha to hire hundreds of professional town planners and reform institutions as the state’s urban share could surge toward 60% by 2047, warning that planning gaps could slow growth. Rent controls (Abu Dhabi): ADREC froze rent hikes across renewed and new leases at 0% until further notice, overriding the usual 5% annual increase rule. Housing policy governance (Delhi): Delhi’s Lt. Governor approved reconstituting the Delhi Ridge Management Board to strengthen ridge protection and multi-agency enforcement. Land & office momentum (NCR, India): Faridabad’s Mathura Road is emerging as an office/mixed-use corridor as an elevated signal-free Delhi–Faridabad corridor is expected to cut travel times and ease congestion. Business registration surge (Pakistan): SECP reported 3,161 new companies in May, with 99.9% processed online; IT led, and real estate/construction added 303 new firms. Big capital for Asia PE (regional): Blackstone raised $13.1bn for its Asia private equity fund, signaling continued global appetite for buyouts and growth in Japan and India.

Asia PE Capital: Blackstone raised US$13.1bn for its largest Asia private equity fund, signaling continued global appetite for Japan and India deals despite geopolitical noise. Urban Planning & Housing: Indonesia’s new metropolitan mapping approach highlights how daily life crosses administrative borders, pushing planners to rethink where housing and services should follow real commuting patterns. Social Housing Pressure: In Islamabad, alliances warn of looming evictions from katchi abadis as informal settlements face renewed demolition risk, raising fears of a wider social crisis. China–Hong Kong Flows: Mainland buyers’ record Hong Kong spending is at risk as China tightens rules on cross-border cash and overseas equity trading, likely hitting luxury sales most. Property Market Watch: South Korea’s inflation accelerated, reinforcing a hawkish Bank of Korea stance that could weigh on housing affordability and speculation. Real Estate Development: JR East is leaning into “city building” via the Greater Shinagawa redevelopment, using transit-linked retail and offices to diversify beyond rail. Infrastructure & Disruption: Mumbai residents near the Dahisar Transportation Hub complain of dynamite blasting vibrations and cracks, adding friction to major transit-led redevelopment. Child Poverty Lens: Tonga reports 25.3% of children in multidimensional poverty, with the youngest and rural kids hardest hit—an indirect but important signal for housing and service needs. Capital Markets & Growth: Pakistan’s IMF-constrained development plan trims sector allocations while still unveiling a record Rs4.715tn programme, underscoring how fiscal rules shape housing and infrastructure delivery.

Affordable Housing & Finance: Truehome Finance is expected to get SEBI nod for a Rs 3,000 crore IPO this week, with plans to expand beyond affordable housing into salaried customers and deeper Tier III reach. Mumbai Housing Demand: MHADA’s Mumbai lottery for 2,640 flats drew 75,366 applications, with the draw date likely announced after June 25 as election code of conduct ends. NCR Land Deals: Godrej Properties won a 23.2-acre Greater Noida residential land parcel via e-auction, targeting revenue potential above Rs 7,000 crore; Puravankara also signed a JDA for an 11.23-acre North Bengaluru site with estimated Rs 1,100 crore GDV. Data Centres Meet Real Estate: Anant Raj plans to invest Rs 250 billion in Haryana for data centres and cloud services, signaling continued tech-led demand for urban land and infrastructure. Power & Infrastructure Disputes: Haryana’s regulator ordered DHBVN to stop unauthorised tapping of a developer-built 33kV feeder in Gurugram and imposed a Rs 1 lakh penalty. Urban Renewal Policy: China’s new 2026-30 urban renewal plan targets safer, greener, higher-quality city living and underutilised land upgrades. Census & Housing Ops: Gujarat begins Census 2027 Phase 1 houselisting digitally, with a month-long exercise starting June 1.

Logistics Real Estate (Australia): ESR has teamed up with Mitsubishi Estate Asia for a A$700m Western Sydney logistics push at Huntingwood, planning an 18.3-hectare, multi-stage estate with up to 114,005 sqm of warehousing; construction is slated for late 2026 with later-stage completions from 2027. Mumbai Housing Market (India): Knight Frank India cites Maharashtra registration data showing BMC-area property registrations hit 12,315 in May 2026, a 7% YoY rise and the highest May level in 14 years, with redevelopment driving fresh registrations. Greater Noida Land (India): Godrej Properties won a 23.2-acre residential land parcel in DMIC Greater Noida via e-auction, targeting estimated revenue potential above ₹7,000 crore for a premium apartment project. Insolvency Ruling (India): NCLT dismissed a Section 7 insolvency plea against Cosmos Infraestate, reinforcing SWAMIH Fund’s role in shielding real estate projects from stalled recoveries. Migrant Worker Protections (South Korea): Korea’s Justice Ministry launched a Migrant Human Rights and Interests Team to tackle unpaid wages, abuse, illegal brokerage, and poor housing, with rapid investigations and coordination across agencies. Migrant Housing Affordability (Pakistan): A policy brief flags fast urban growth and high-density pressure as demand for housing accelerates, while affordability worsens amid rising prices and weaker real wages. Urban Development & Heritage (China): A mayors’ dialogue in Huangshan stressed that heritage cities should prioritize long-term conservation over short-term gains, warning that damaging authenticity undermines sustainable urban prosperity. Safety & Supply Chain (India): A fire at Hyundai Mobis’ Sriperumbudur plant near Chennai destroyed two production buildings, raising concerns for component supply continuity. Tokenization Trend (APAC Finance): Research says tokenization is spreading fast among asset managers, with tokenized fund distribution projected to rise from 13% in 2026 to 28% by 2030, potentially boosting liquidity for assets like real estate.

Affordable Housing Push (Philippines): Iloilo City broke ground on two projects—DHSUD’s P640m Iloilo Residences rental housing (two 7-storey buildings, 362 units) and the Uswag 4PH condominium complex in Jaro—aimed at lower- to mid-income working families. Modular Construction (China): A report highlights China’s modular/prefab building push going global, promising faster delivery and greener construction methods. Foreign Investment Signal (Vietnam–Singapore): Vietnam’s top leader met Singaporean corporate leaders, praising CapitaLand’s long-running Vietnam real estate work and urging expansion in green housing, logistics and data centres. Urban Pressure (Spain): Barcelona’s population fell slightly in early 2026 amid low births and youth outflows, with housing stress cited as a driver of demographic change. Nuclear Security (China): Satellite imagery reviewed by Reuters points to a growing military infrastructure network near China’s nuclear missile silos in Xinjiang, aimed at strengthening survivability. Housing Dispute (India): Chennai’s Chitra Nagar residents blocked a road over delayed allotments under the Tamil Nadu Housing Scheme, alleging promised priority after documents were submitted. Market Demand Shift (India): Gurgaon’s housing demand is pivoting from office-led growth toward manufacturing-linked demand in nearby industrial belts, as companies expand and workforce housing plans follow. Street Vendor Finance (India): PM SVANidhi was extended to March 2030, with 55 lakh beneficiaries onboarded and nearly Rs 9 lakh crore in digital transactions reported.

Housing & Urban Policy (India): Delhi Gymkhana Club’s lease fight is spilling into wider Maharashtra policy as the state moves to draft rules to make gymkhana land more accessible and tighten government control over subsidised club holdings. Housing & Governance (India): Nagaland CM Neiphiu Rio urged public participation in Census 2027, flagging a digital, two-phase count that includes housing and caste enumeration—key inputs for future planning. Construction & Approvals (Vietnam): CPN and Sun Group signed an MoU to explore retail and mixed-use projects across Vietnam, targeting Da Nang, Ho Chi Minh City and Phu Quoc. Labour & Migration (Canada/B.C.): B.C. Supreme Court upheld a class action against Mac’s Convenience Stores and recruiters over illegal recruitment fees charged to about 880 migrant workers. Macro & Affordability (South Korea): Inflation kept real household purchasing power nearly flat in Q1 as spending rose faster than income, hitting lower-income households hardest. Climate & Built Environment (California/US): California updated cap-and-invest rules, expanding free allowance giveaways tied to emissions-reduction projects—prompting pushback from environmental groups. Real Estate Finance (India): RBI said credit growth stayed strong, with MSME lending accelerating and mortgage rates easing, supporting housing and commercial real estate demand.

Urban Renewal Push (China): China unveiled a 2026-2030 urban renewal plan targeting 500,000 run-down homes, 115,000 old residential communities, 4,000 “urban villages,” and upgrades to 365,000 km of underground pipelines—an effort expected to underpin major construction and property activity. Capital Markets & Lending (Korea): Korea’s household mortgage rates eased in April, ending a six-month rise, while foreign home buying in Seoul and nearby areas fell sharply after land transaction permit rules for non-Koreans. Housing Supply Policy (Korea): The finance minister said Korea will speed up housing supply by streamlining approvals, starting some projects earlier, and cracking down on speculative trading and false information. Enforcement & Homebuyer Risk (India): India’s ED attached ₹634.12 crore of assets tied to Unitech’s Noida golf & country club project amid a homebuyer fraud probe, and separately seized ₹1.53 crore in an alleged sand mining network raid. Commercial Real Estate (Philippines): MREIT plans a ₱25-billion acquisition from Megaworld to shift from a pure-office trust into a more diversified portfolio including malls and a hotel. Tech-Driven Urban Growth (India): Mumbai’s MMRDA signed an MoU with TEAM to build an AI and startup ecosystem across the Mumbai Metropolitan Region.

Supreme Court Homebuyer Probe: India’s Supreme Court has asked the Centre, ED, RBI and multiple Noida/Yamuna Expressway bodies and developers to respond to a plea alleging diversion of about ₹14,000 crore from homebuyers, with notices set for July 15. Dubai Shared Housing Rules: Dubai has passed a 2026 law to regulate shared housing/bedspace rentals, aiming to curb overcrowding and informal arrangements while formalising rights for owners and tenants. Hyderabad Land Price Benchmark: Telangana’s TGIIC set a record in Raidurg with an e-auction clearing at ~₹237 crore per acre (70.5% above reserve), signalling strong investor appetite for Hyderabad’s growth corridor. Thailand International School Expansion: NLCS International will open an NLCS Phuket campus in Cherng Talay, reflecting rising demand beyond Bangkok for premium international education. Korea Foreign Ownership Snapshot: South Korea reported 108,231 homes under foreign ownership in 2025, with Chinese nationals holding the largest share. China Credit Push: China’s PBOC reportedly urged state banks to lift lending after April loan growth fell, with property weakness still weighing on demand. Mumbai Furniture Rental Trend: In Mumbai, renters are increasingly choosing wardrobe and bedside furniture rentals instead of buying, driven by high costs and frequent moves. Philippines Tree-Cutting Backlash: Metro Manila to Palawan expressway plans face criticism after DENR green-lit mass tree cutting, with advocates warning of a broader “development” model risk.

Urban Renewal Push (China): China’s State Council rolled out a 2026-2030 urban renewal plan, calling for “quality homes,” better life-cycle safety for housing, and upgrades to municipal infrastructure, with six major tasks from green upgrades to stronger urban governance. Housing Finance & Policy (India): India’s Supreme Court asked the Centre, ED, RBI and multiple agencies (including UP RERA, Noida Authority and YEIDA) to respond to a plea alleging diversion of homebuyers’ funds in Noida and Yamuna Expressway housing projects. Rates Watch (South Korea): Bank of Korea Governor Shin Hyun-song kept the policy rate at 2.5% but signaled tightening is getting closer, citing inflation, growth, FX risks and housing prices. Investment Snapshot (APAC): Savills said Asia Pacific real estate investment rose 19.2% YoY in Q1 2026, led by India’s logistics, data centres and AI-linked infrastructure demand. Affordable Housing Funding (India): PMAY-G received the first 2026-27 instalment for 12 states, with a mother sanction of ₹10,021.42 crore to accelerate rural “pucca” housing. Land & Displacement Risk (Philippines): Residents in Mandaue City’s Barangay Paknaan fear displacement as DPWH clears coastal areas for a ₱76.412bn bridge project linking Mandaue to Lapu-Lapu City.

Affordable Housing Finance (Philippines): Pag-IBIG Fund raised its maximum housing loan per borrower to P10 million, aiming to widen access to long-term, affordable home financing under the Expanded 4PH program. Regulation & Livability (Hong Kong): A new law phasing out tiny “shoebox” subdivided flats is forcing some residents into eviction limbo, with rules banning units under 8 sq m and requiring basic safety and hygiene features. Land & Enforcement (India): HYDRAA reclaimed Eedula Kunta land in Hyderabad’s Serilingampally area, citing alleged encroachment tied to boundary confusion and manipulated permissions. Retail Property & Development (Thailand/Philippines): CP AXTRA and AyalaLand Malls inked an MoC to share mall asset management and leasing know-how in Thailand, with plans to redevelop and expand sites. Social Housing & Homelessness (New Zealand): Community Housing Aotearoa says homelessness is at its highest level and calls for 3,000 new social/affordable homes annually for a decade. Student Housing (Singapore): A sector shift is underway as PBSA growth cools with demand normalising and new supply pressuring rents and occupancy in some cities. Urban Planning (Canada): Vancouver developer Pinnacle seeks to boost a mixed-use tower at 601 Beach Cres. to 67 storeys and add 206 hotel rooms, while keeping 152 social housing units. Housing Policy Data (South Korea): XJTLU, UN-Habitat and Suwon launched a WUF13 report on smart, inclusive housing monitoring to guide governance and budgeting. Consumer Safety & Ads (India): ASCI’s complaints report shows a 21% rise in ad violations, with offshore betting and realty among the most flagged categories.

Infrastructure Finance (Vietnam): Vietnam’s PPP bond framework is moving forward, with a draft decree on public bond issuance expected to complete the legal setup for PPP capital mobilisation—boosting sentiment for infrastructure stocks as public investment disbursement becomes the real growth driver. Housing Demand (India): A new report argues India’s urbanisation may be far higher than official figures, citing satellite-based estimates that could put urban share at 63% in 2015—an important backdrop for housing planning and land policy. Real Estate Hotspot (India): Sohna is emerging as Delhi NCR’s next housing magnet, driven by expressway and road upgrades and shifting buyer preferences toward larger, better-planned communities. Policy & Tax (India): India’s Supreme Court upheld a GST position, refusing to interfere with a Bombay HC ruling that GST doesn’t apply to assignment of MIDC plot leasehold rights. REITs & Capital Markets (India): Retail credit and REIT distribution stories underline ongoing funding flows—Experian flags FY26 retail credit AUM growth, while listed REITs continue distributing large payouts. Talent Pipeline (India): NAREDCO Telangana and ESCI signed an MoU to scale construction and infrastructure skill training with global standards and sustainability focus. Smart Urban Tech (Philippines-Japan): Ayala Group and Japanese partners signed MOUs on digital innovation and smart urban development, pointing to more AI-driven infrastructure and digital finance collaboration.

California Housing Crunch: A new report says the Golden State is short nearly one million homes affordable to extremely low-income families, pushing workers and families out and reigniting the “can the model work?” debate. Policy vs Reality: At the same time, California’s cap-and-invest climate rules are again in the spotlight after critics argue they raise fuel costs and spur businesses to leave. Elite Institutions Under Pressure: The Delhi Gymkhana Club fight is back in focus, with the government’s move to reclaim prime land feeding a wider decolonisation argument. Heat as a Housing Risk: India’s heat-wave problem is shifting from daytime to nights, with cooling access becoming a new affordability fault line. China Public Services Access: China is expanding basic services to migrant workers without local household registration—an urbanisation move with direct housing and welfare implications. APAC Markets: Japan’s Nikkei hit a record high as chip stocks surged, while New Zealand’s youth unemployment alarm is growing, adding pressure to housing and entry-level job pathways.