Mandarin Oriental announced in October 2025 that it would sell the top 13 floors of One Causeway Bay, its Hong Kong commercial tower, to Alibaba and Ant Group. Mirae Asset announced that same month the sale of its Seoul asset to Korea Investment & Securities and KakaoBank; known for its tech parks, the Pangyo area is often referred to as South Korea’s “Silicon Valley”.
The Asia-Pacific commercial real estate (Apac CRE) market “has moved firmly into the stabilisation stage”, signalling “attractive entry points” for investors across multiple sectors and geographies, says Cushman & Wakefield.
2025 started off on a muted note as investors were still cautious following a period of market volatility and uncertainty, says James Young, Cushman & Wakefield’s president, markets, Apac and EMEA (Europe, Middle East, and Africa). “However, the last quarter of the year yielded a few significant deals in the region, such as the US$925 million [$1.2 billion] prime Causeway Bay office transaction in Hong Kong and the US$1.47 billion sale of Pangyo Tech One Tower, a landmark prime office asset in South Korea.”
