What is it that investors hope to achieve by placing capital in closed-end real estate funds? Most would say it is to generate attractive risk-adjusted returns, but relative to what?

The Editorial Advisory Board of this publication met in Singapore in late October to discuss pressing issues facing the real estate industry as we head into 2023. The event includes confidential and in-depth, small- and large-group discussions, which we compile from board members in advance in the form of “food for thought” topics.

Hines and Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan, have formed a partnership to develop and acquire up to A$1.5 billion (US$971.5 million) of assets in the Australian build-to-rent (BTR) sector.

The University of New South Wales (UNSW Sydney) has contracted the Plenary Group–led Plenary Health consortium to deliver the A$600 million (US$388 million) Health Translation Hub — one of the marquee developments within the Randwick Health & Innovation Precinct, a suburb of Sydney.

GIC, Singapore’s sovereign wealth fund, and Dream Industrial REIT (DIR) have acquired Canada’s Summit Industrial Income REIT for C$5.5 billion (US$4.4 billion). Under the limited partnership, GIC will own 90 percent of the joint venture and DIR will own 10 percent.

Envisioned as one of Asia’s most sustainable skyscrapers, the mixed-use commercial and residential redevelopment of 8 Shenton Way will see 305 metres, 63 storeys, redefine Singapore’s skyline.