AGP Executive Report

Philippines IT-Ecozone Push: Metro Manila’s IT ecozone moratorium has been lifted, and five IT parks are now seeking PEZA ecozone status—potentially unlocking more BPO operations in Makati, Muntinlupa, Taguig, Parañaque and elsewhere. India Services Momentum: India’s trial Index of Services Production shows 16 of 19 services sub-sectors grew in May, with real estate services up 17.7%—a sign demand is still holding in key urban sectors. Bangladesh Sustainable Urbanisation: Housing and Public Works Minister Zakaria Taher says planned urbanisation and low-income housing are priorities, urging greener building practices as cities expand fast. Pakistan Heritage & Tourism: Experts call for renewed Mohenjo-daro research and a reconstructed perimeter wall replica to boost public understanding and cultural tourism. Maharashtra Land Regularisation: Maharashtra orders a survey to extend regularisation for eligible encroachments on government land in excluded Mumbai and Pune areas under the 2011 rule. Korea Housing Pressure: Seoul micro-apartment sales hit a record as loan curbs bite, while housing affordability remains a growing squeeze for younger buyers. Philippines Urban Health Support: Hann Foundation donated a mobile blood donation bus to the Philippine Red Cross in Pampanga and Angeles City, expanding capacity for regional blood drives.

Urban Renewal in India: Mumbai’s Tree Authority has approved felling 871 trees and transplanting 822 for the Dharavi Redevelopment Project, drawing fresh criticism over green-cover loss and monitoring of replacement plantations. Housing Rights Dispute: A Bengaluru tenant challenged a society’s ban on gym and pool access for smaller flats, with legal commentary saying common facilities can’t be restricted based on maintenance fees under the Karnataka Apartment Ownership Act. Property Finance & Policy: India’s housing market shows value growth—sales by value rose in June and expanded across H1, while affordability pressures keep homeownership strained. Construction Risk Controls: Credai-Karnataka is urging double verification of soil investigation reports after a tilted-tower incident in Bengaluru, pushing stronger quality checks before foundations. Digital Land Records: Maharashtra plans a blockchain law for real estate to digitise land records, improve transparency, and curb fraud. Data Centre Capital Flows: AirTrunk secured a US$2.3b green loan for a Johor hyperscale data centre, highlighting how AI demand is reshaping Asia-Pacific infrastructure investment. Regional Market Watch: Hong Kong home prices rose for a 13th month in June, but buyers face headwinds from stock-market correction and tighter outbound investment rules. Thailand Investment Shift: Phuket and Samui are emerging as global property investment hubs as foreign buyers diversify and villa supply accelerates on Koh Samui.

Affordable Housing Push (Pakistan): PM Shehbaz Sharif ordered faster rollout of Pakistan’s Apna Ghar Scheme, urging banks to expand financing after approvals reached Rs204 billion and Rs27 billion was already disbursed to beneficiaries. Public Housing Upgrades (Malaysia): Kuala Lumpur’s DBKL allocated RM2.59m to upgrade Seri Pantai PPR, covering lift works, roads, lighting, water pumps and fire-safety improvements. Recurring-Income Real Estate (Philippines): Santos Knight Frank says developers are leaning into offices, hotels, mixed-use and data centers to build steadier cash flow, despite data centers’ heavy land and energy needs. Market Momentum (Pakistan): Property demand and prices are rising across Pakistan’s major cities, with observers citing renewed investor confidence, geopolitics, and lower transaction taxes. Water as a Development Constraint (Japan/US): Kubota plans to buy atmospheric water-harvesting tech to help developers meet long-term water requirements for new subdivisions in water-stressed areas. Cross-border Heritage (India–Nepal): India and Nepal jointly inaugurated restored Buddhist monasteries in Patan, funded by an Indian grant and executed under Nepal’s urban development units. Investment Deal Watch (Australia): Sweden’s EQT raised its takeover offer for Perpetual to $1.8b as the board reviews the bid. Tenant/Lease Dispute (India): India’s Centre told Delhi High Court it can’t halt eviction steps over Delhi Gymkhana Club’s terminated lease, pointing to the PP Act’s own process.

Knight Frank Singapore: Galven Tan resigns as CEO after 2.5 years; Low Kin Hon steps in as interim CEO as the firm winds down its Knight Frank Property Network and agents move to OrangeTee & Tie. Singapore Wealth Planning: Bank of Singapore appoints Benjamin Low to lead alternatives, including real estate, as demand for private market strategies grows among wealthy Asian clients. India Housing Finance: Piramal Finance signs a co-lending partnership with Muthoot Fincorp to expand affordable housing finance and loan-against-property for small businesses. Mumbai Market Tactics: Developers in Mumbai push renewed “buy now, pay later” flexi-payment plans to reduce upfront costs during the monsoon. Mumbai Redevelopment: BMC receives a ₹1,351-crore top bid from Peddar Realty for Century Mills redevelopment in Lower Parel, advancing a long-stalled workers’ housing plan. India Insolvency Watch: India’s Supreme Court may refer Parsvnath Developers’ homebuyer fraud probe to EOW/CBI, seeking full details of pending cases across RERA and courts. Land & Infrastructure Delays (Rajasthan): AMRUT 2.0 projects worth ₹11,560 crore face delays from land disputes and multi-department approvals, with ₹745.12 crore released so far. Property Verification (Pakistan): Overseas Pakistanis get a new remote property verification service to check legal/ownership status before buying. Urban Development (Australia): A report flags metro and transport-linked renewal as major real estate demand drivers across Sydney’s western and Newcastle-area markets. Climate & Risk: Typhoon Noul remnants threaten heavy flooding across southern and central China, prompting stronger flood-control checks for housing and critical infrastructure. Social Housing Standards (NZ): Govt announces phased RSE worker accommodation rule changes, with stronger protections and a migrant exploitation visa option, though court issues remain unresolved. Wildfire Displacement (France): A week-long wildfire near Bordeaux forces evacuations of about 220,000 residents, with uncertainty over return timelines.

Philippines Investment Climate: GlobalSource Partners urges Manila to fix governance, policy predictability and infrastructure to reverse an FDI slump after April inflows fell 58.8% to $250m. Philippines Housing/REITs: Megaworld’s MREIT board approved a P27bn asset infusion via a property-for-share swap, adding retail malls and a hotel to diversify away from an office-heavy portfolio (AUM to P122bn; GLA toward 1m sqm by 2027). India Luxury Demand: Knight Frank flags slow sales in South Mumbai luxury despite low unsold inventory, with a high quarter-to-sell ratio (15.1) as buyers shift to newer premium pockets. India Wealth Snapshot: India’s income-tax data shows 576 people reported ₹100 crore+ gross income in AY26, up fourfold from AY22—fueling debate on inequality and housing affordability. Japan/Asia Work Trends: A “effort recession” study finds Gen Z and younger workers are cutting discretionary effort, a shift that could reshape office demand and workplace expectations. Vancouver Development: Vancouver City Council moved quickly toward a vote on Holborn Group’s Hudson’s Bay parkade redevelopment, despite tense union pushback over hotel and housing plans. Singapore Youth Policy: Singapore’s SG Youth Plan targets “confident, connected, contributing” skills, including early career exploration and job tasters. China Poverty Focus: China is shifting from eradicating poverty to preventing relapse via monitoring, social security, development policies and employment support. Malls/Leasing Pulse: Anarock reports retail leasing outpacing new supply in Delhi-NCR, with fashion and F&B driving demand.

Water & Utilities Disruption: Port Moresby faces a 29-hour partial water shutdown (Fri Jul 31 10pm to Sun Aug 2 3am) as Water PNG rushes critical repairs and swaps key valves, aiming to cut a major daily leak. Housing Affordability & Mobility: A Korea report links Greater Seoul relocation to weaker social mobility for younger cohorts, as high housing costs force repeated moves and reliance on family wealth. India Real Estate & Local Infrastructure: Greater Noida plans a Rs 900 crore double-decker flyover to ease traffic between Greater Noida West and Ghaziabad via Shahberi/Crossings Republik/NH-9. Residential Investment (Philippines): MREIT and Megaworld approve a ₱27bn property-for-share swap (Wave 5), adding 303,900 sqm and shifting the fund toward retail and hospitality. Private Credit (India): Strata invests ₹96 crore across three RERA-approved Chennai and Bengaluru residential projects, targeting ~16–17% returns via coupon structures. Urban Livability (Pets & Public Safety, Malaysia): Perak’s Perak Pawsitive Initiative reports 1,935 pets neutered since 2024, framing stray control as a community safety and local governance issue. Policy & Governance (Philippines): Analysis of Marcos Jr.’s 2022–2026 executive orders finds governance/administration dominates, with housing/infrastructure a smaller slice.

Housing Market Resilience (India): India’s tiles and marble industry is expected to keep growing despite Red Sea and Middle East disruptions, as domestic housing demand cushions higher freight, insurance and fuel costs. Land & Speculation Controls (China): China’s agriculture and environment ministry proposes steep taxes on vacant land and short-term property trades, plus a mechanism to curb windfall gains from land value jumps. Office Leasing Demand (India): Reports point to GCCs driving office leasing, with a large share of H1 2026 activity tied to multinational expansion. Developer Update (India): Mahindra Lifespace says June-quarter sales bookings more than doubled to Rs 925 crore on strong home demand. IPO Rush (India): A packed primary-market month is coming, with Zepto, Truhome Finance and Shiprocket among firms targeting over Rs 25,000 crore in IPO proceeds. Co-living & Student Housing (APAC): Investors are homing in on Singapore co-living and Hong Kong student housing amid a broader living-boom narrative. Urban Infrastructure (Pakistan): Karachi’s monsoon disruptions continue, with rain affecting parts of the city as authorities respond. Disaster Relief & Housing (Philippines): Operation Damayan highlights long-term recovery support, including temporary housing help for families affected by volcano unrest.

Cambodia ESG Scrutiny: A new study on three Chinese-backed projects (Lower Sesan 2 dam, Dara Sakor SEZ, Funan Techo Canal) flags “significant compliance gaps” versus Responsible Business Conduct standards, citing weak public consultation and grievance redress despite meeting Cambodia’s minimum laws—pushing for ESG guidelines. Hong Kong-to-Mainland Buyer Shift: Greater Bay Area developers say mainland debt stress has changed demand: Hong Kong buyers are now mostly concentrated near the border (e.g., Hengqin/Shizimen), while inland cities see mainly owner-occupiers. India Housing Materials Resilience: India’s tiles and marble sector expects continued growth as housing demand stays strong, even as West Asia conflict raises freight, insurance, and fuel costs. Pakistan Power for DHA City Karachi: DESCO, a DHA City Karachi unit, secured both electricity distribution and “supplier of last resort” licences from NEPRA under revised rules—an infrastructure milestone for the estate. Urban Safety in India: Two workers died after losing consciousness inside a septic/STP tank in Greater Noida, renewing focus on construction-site and utility safety. Monsoon Watch Karachi: Light-to-moderate rain with urban-flood warnings hit multiple Karachi areas for a second day.

Commercial Office Leasing (India): Knight Frank India says Hyderabad logged a 63% YoY jump in large office leasing in H1 2026, with deals over 100,000 sq ft totaling 4.9 million sq ft. Office Market (India): Knight Frank also reports large office transactions (100,000+ sq ft) drove 59% of India’s H1 2026 office leasing volume (48.0 million sq ft), with Bengaluru and Hyderabad leading via GCC demand. Corporate Real Estate (India): Kesar India’s wholly owned arm bought ~7,725 sq ft of premium commercial office space in Ameerpet, Hyderabad, adding to its South India footprint. Real Estate Rankings (India): Kesar India again made the Grohe-Hurun India Real Estate 150, with valuation up 125% YoY to INR 3,600 crore. Retail Property Expansion (India): Electronics Mart India opened a new multi-brand store in Saket, New Delhi (3,600 sq ft). Energy Distribution Policy (India): India’s Power Ministry consults on a parallel distribution licensing framework to boost competition in electricity distribution without duplicating infrastructure. Urban Governance & Housing (India): India’s housing/urban affairs ministry is being split into separate capital and urban development departments.

Urban Planning & Zoning: Vancouver City Council has approved key steps to rezone the former Molson Coors brewery site for high-density, mixed-use development, with regional designation changes now awaiting Metro Vancouver sign-off. India Real Estate Finance: Lodha Developers reported Q1FY27 net profit doubling to ₹1,373 crore, with revenues up 43% and pre-sales at ₹4,629 crore. Luxury Housing Demand: In Gurugram, ultra-luxury launches (₹20 crore+) are growing, and developers are increasingly selling bare-shell apartments rather than fully finished units. Cross-Border Property & Crime: Thai police say they dismantled a Chinese nominee scheme controlling 33 Bangkok luxury villas worth about ฿1.275bn, using shell companies to sidestep foreign ownership rules. Infrastructure & Growth: Noida’s Greater Noida West Metro corridor cleared a major hurdle for approvals, while local police rolled out traffic plans across congested roads. Global Heritage (Real Estate Link): UNESCO added Jingdezhen’s porcelain industry sites to the World Heritage List, highlighting long-running cultural assets that can shape tourism-led property demand.

Data Centres & Water Use: OpenAI’s planned 612MW S7 data centre in Australia has dropped a recycled-water cooling plan after permitting and pipeline hurdles, shifting to more energy-intensive cooling—highlighting how sustainability rules can clash with what infrastructure is ready to support. Luxury Housing & Risk Perception: Malibu’s wildfire-hit luxury market is seeing major price cuts as buyers factor in evacuation risk, insurance costs and rebuilding uncertainty, even for homes that survived. India Urban Housing Disruption: Bengaluru’s SNN Raj Etternia will demolish and rebuild a tilted 18-storey tower just months after getting an occupancy certificate, using the same firm that razed Noida’s Supertech Twin Towers, with compensation for 49 buyers. Senior Living Investment: Primus Senior Living and HDFC Capital are teaming up on a Rs 2,000 crore platform to build institutional senior living communities across six Indian cities. Real Estate Finance & Profitability: Lodha Developers reported a record Rs 1,373 crore Q1 net profit, with revenue up 43% and collections up 46%, while keeping leverage low. Policy & Governance: Lee signals tougher property holding taxes to curb speculation, stressing the need to normalize the market.

Housing affordability & demographics: Sri Lanka’s birth-rate keeps sliding to record lows, and the article links it to rising costs of starting a household—homebuilding and housing affordability are now part of the demographic worry. Urban flooding: Ahmedabad and Surat were hit by severe monsoon downpours, overwhelming drainage and flooding residential areas, disrupting transport and forcing evacuations—another reminder that city infrastructure is housing-adjacent risk. India housing governance: India split MoHUA into capital development and urban development departments, reshaping how NCR and urban housing/transport/water programs are managed. Legal pressure on housing projects: A senior citizen in Punjab asked the High Court for suo motu action over alleged irregularities in GMADA’s Purab Premium Apartments, including promised parking and pending approvals. Sustainable district planning: Pakistan’s CBD Punjab (Quaid & Bab District) secured LEED for Communities Gold precertification, pushing green, resilient district standards. Senior living investment: Primus Senior Living and HDFC Capital launched a ₹2,000 crore senior living platform to scale institutional-grade communities across Indian cities. Thailand real estate finance: OCBC and Asset World Corp agreed a US$200m sustainability-linked loan to fund AWC’s hospitality and lifestyle real estate pipeline.

Disaster Response: Heavy rains in south Gujarat triggered flood-like conditions, with Umbergaon in Valsad district seeing 1,200 mm in 36 hours; officials report 22,000 people relocated and 1,200 rescued, while schools and colleges stay shut as NDRF/SDRF and Army columns support relief. Retail Real Estate & Expansion: India’s fashion retailers are pushing deeper into tier 2/3 cities—Trent plans up to Rs 2,500 crore for new stores and upgrades, while Arvind Fashions targets an additional 150,000 sq ft of retail space in FY27 and Reliance Retail continues scaling its store-linked dark store network. Luxury Hospitality & Residences: Shinsegae Group and OKO Group (Vlad Doronin) back a $500M venture to develop Aman and Janu luxury hotels and branded residences, marking Aman’s first South Korea push. Policy & Housing Finance: South Korea’s Lee signals tougher property holding taxes to curb speculation, as Seoul grapples with a long-running housing affordability squeeze. Urban Services: Delhi’s CM Rekha Gupta flagged off door-to-door waste collection for 4.5 lakh households across 25 wards, using GPS monitoring, CCTV and a helpline.

Policy & Housing Taxes (South Korea): President Lee Jae Myung warned South Korea could be heading toward a Japan-style real estate bubble, as the government prepares to revise real estate taxes to cool prices. Public Housing (Hong Kong): Hong Kong Housing Authority approved a 2.04% PRH rent increase effective Oct 1, 2026, lifting average monthly rent by about $51. Real Estate Governance (South Korea): Lee also chaired a televised forum stressing property policy won’t be decided by simple majority votes and that officials must normalize the market even amid backlash. Infrastructure Compensation (Sri Lanka/Japan): Japan asked Sri Lanka to pay interest on delayed LRT compensation after the project was cancelled; a committee will review the request. Urban Development (Vietnam): Vinhomes said it has expanded its land bank to 295m sqm and is pushing integrated megacity projects, including Vinhomes Global Gate Ha Long. Healthcare-Linked Real Estate (Thailand): BDMS launched WellEra Bangkok, a US$865m wellness complex mixing preventive healthcare, residences and hospitality, targeting a 2030 opening. Renters & Climate Resilience (US): Spokane is debating a “Renter’s Right to Cool” ordinance requiring landlords to keep rentals cool to at least 80°F during hot weather. Modular Housing (Australia): Metricon completed two prefabricated homes in Melbourne using mostly China-made components, aiming to scale faster nationwide.

Urban Development & Heritage: Nanjing showcased participatory conservation of the Ming City Wall and surrounding neighborhoods at UNESCO’s 48th World Heritage Committee session in Busan, highlighting community co-creation and digital reconstruction. Industrial & Logistics Compliance: Lineage Logistics faced South Coast AQMD pressure after a Boyle Heights cold-storage fire, with regulators demanding added odor controls and warning of further legal action. Housing Policy: Costa Mesa in Orange County was named in California’s RHNA enforcement push, with a court timeline to zone for thousands of new homes by 2029. Real Estate & Investment (APAC): Link REIT agreed to sell a 50% stake in Sydney’s 100 Market St to Aware Real Estate for about A$226m, citing capital recycling. Smart Living: TrueOnline partnered with Thai developer Britania to roll out an AI-powered smart home ecosystem across residential projects. Property Market Signals: Hong Kong home prices are forecast to rebound sharply over 2026-27, according to a new report. Construction & Cities: Vietnam’s Vinhomes is expanding integrated urban developments using its large land bank.

Urban Land & Transit: Greater Bangkok land prices rose along mass-transit corridors, with the Green Line’s Khu Khot–Lam Luk Ka section leading (+17.6%), as developers and investors front-run future accessibility. India Housing Finance & Policy: India’s Urban Challenge Fund approved projects worth ₹31,000 crore, shifting from subsidies to a challenge model with viability gap funding up to 50% and funding mix including NBFCs and PPPs. Vietnam Mega-Developments: Vinhomes is turning a land bank of over 295 million sq m into integrated urban megacity pipelines, led by Vinhomes Global Gate Ha Long (6,200ha) positioned as a “New Hanoi” with future high-speed rail links. Japan Property & Community: A Tokyo pop-up concept is “digitally archiving” threatened small businesses via DJ-led shoots, using culture to keep local commerce visible amid urban development and demographic decline. Japan Housing Risk: Japan’s “jiko bukken” market is spotlighted by a service that pays workers to overnight in homes tied to deaths to certify them as safe for renters. Commercial Real Estate (India): Mumbai/Pune buyers are increasingly betting on redevelopment of older societies—buying smaller units now for larger homes later—amid redevelopment momentum.