Asia Pacific Real Estate Headlines: UOL Posts 23% Profit Jump, ESR and INA Expand Indonesia Logistics Partnership

## UOL Posts 23% Profit Jump to $197M in H1 Singapore developer UOL Group has reported a 23% year-on-year rise in net profit to S$252.2 million ($197 million) for the first half of the year. The company attributed the decline in revenue to the growing use of joint ventures for residential projects, which are booked as JV income rather than revenue. Chief financial officer Eric Ng stated that the group's revenue fell 7% to S$1.4 billion. UOL's profit jump is a significant development in the Asia Pacific real estate market, and it is expected to have a positive impact on the company's future prospects. The company's ability to adapt to changing market conditions and its focus on joint ventures are key factors that have contributed to its success. ## ESR and INA Expand Indonesia Logistics Partnership ESR and Indonesia's INA have expanded their partnership by breaking ground on two Grade A logistics facilities in Cikarang, Greater Jakarta. The facilities, ESR Cikarang Logistics Park 4 and ESR Cibitung Distribution Hub, are expected to be completed in 2027 and 2028, respectively. The partnership between ESR and INA is a significant development in the Indonesia logistics market, and it is expected to have a positive impact on the country's economy. The ESR Cikarang Logistics Park 4 will be the largest non-captive modern warehouse in the area, while the ESR Cibitung Distribution Hub will be a three-storey facility. The partnership between ESR and INA is a testament to the growing demand for logistics facilities in Indonesia and the company's ability to adapt to changing market conditions. ## IGIS's Modo and APlus Buy Tokyo Roppongi Residence South Korea's IGIS Asset Management, through its Japan-focused living platform Modo, has partnered with Taiwan's APlus Property Investment Holdings to acquire a 37-unit residential property in Tokyo's Roppongi district. The property, a 14-storey building completed in 2013, will be repositioned and relaunched as Modo Roppongi in the second quarter of 2027. The partnership between IGIS and APlus is a significant development in the Tokyo residential market, and it is expected to have a positive impact on the company's future prospects. The acquisition of the property is a testament to the growing demand for residential properties in Tokyo and the company's ability to adapt to changing market conditions. ## Other Notable Developments Other notable developments in the Asia Pacific real estate market include Daewoo E&C being selected as preferred negotiator for a public housing project in Goyang, South Korea, and NTT DC REIT posting distributable income of $22.6 million for the June-ended first quarter, 10.6% above its initial public offering projection. Additionally, Korea Land Trust has put the Jongno Boryeong Building, a fully leased office tower in central Seoul, up for sale, and Melbourne developer V-Leader has filed plans for a 479-apartment build-to-rent tower at 600 Lonsdale Street in the city centre, abandoning a A$400 million office scheme for the site. The Asia Pacific real estate market is a dynamic and rapidly evolving industry, and these developments are a testament to the growing demand for residential and commercial properties in the region. As the market continues to evolve, it is expected that these developments will have a positive impact on the companies involved and the region as a whole.