• 90% of investors targeting Hong Kong are actively pursuing repositioning or change-of-use strategies
• Student accommodation and conversion-led strategies continue to drive Living sector investment activity in Hong Kong
• 85% of investors across APAC expect to increase Living investment over the next five years

HONG KONG SAR – Media OutReach Newswire – 2 September 2026 – Hong Kong ranked fifth among Asia Pacific’s (APAC) preferred Living investment destinations in Cushman & Wakefield’s inaugural APAC Living Investor Survey 2026, with investors increasingly pursuing student accommodation, repositioning and conversion opportunities to gain exposure to the sector’s long-term growth prospects.

Among respondents who ranked Hong Kong among their preferred investment destinations, 90% are actively considering repositioning or change-of-use opportunities, highlighting the growing importance of conversion-led strategies in addressing the city’s Living sector supply constraints.

Rosanna Tang, Deputy Managing Director & Head of Research, Hong Kong at Cushman & Wakefield, said: “In Hong Kong, recent market transactions show that investors are approaching the Living sector through a value-add lens, particularly through conversion opportunities and student accommodation assets. Since 2021, the market has recorded US$1.63 billion (HK$12.8 billion) of student housing conversion related transactions across 24 deals, including US$739.9 million (HK$5.8 billion) from 10 deals in the first seven months of 2026, involving a broad spectrum of investors. This strong momentum reflects renewed interest from institutional capital, including the return of real estate funds, as investors seek exposure to resilient, education-linked residential assets underpinned by the city’s persistent accommodation shortage and growing student population.”

Investor Conviction Remains Strong Across APAC

Beyond Hong Kong, investor conviction across the APAC Living sector remains strong, with 85% of investors planning to increase Living investment over the next five years and respondents collectively indicating an estimated US$33.2 billion (HK$260.28 billion) of Living-sector deployment over the same period.

The survey found that Living is becoming an increasingly important real estate allocation across the region, supported by resilient demand fundamentals and investor preference for stabilised, income-producing assets. Notably, a third of respondents with diversified real estate portfolios expect Living to account for more than 30% of their real estate portfolio within five years, underscoring the sector’s growing importance in institutional investment strategies.

Conal Newland, International Director, Head of Living, APAC at Cushman & Wakefield, said: “Our inaugural APAC Living Investor Survey reinforces the growing institutionalisation of the sector across the region. Despite heightened economic and geopolitical uncertainty, investors continue to view Living as a long-term strategic allocation supported by resilient demand fundamentals, defensive income characteristics and strong structural growth drivers. The fact that 85% of respondents intend to increase Living investment over the next five years highlights how Living is evolving from an alternative investment strategy into a core institutional real estate allocation.”

Australia and Japan Lead Investor Preferences

Australia/New Zealand and Japan emerged as the region’s most preferred Living investment destinations, ranking clearly ahead of other APAC markets. Japan’s position reflects its scale, liquidity and status as APAC’s most mature institutional multifamily market, while Australia’s housing undersupply and strong rental fundamentals continue to underpin long-term growth potential. Singapore, South Korea and Hong Kong form the next tier of preferred markets, although deployment continues to be constrained by scale, regulation and pricing.

Demand for Stabilised Assets Outpaces Supply

The survey also found that investors are increasingly favouring stabilised, income-producing and defensive Living assets. Recent market volatility has prompted 50% of respondents to report a greater preference for stabilised assets, yet the availability of standing institutional-grade stock remains limited across much of APAC.

This supply-demand imbalance is increasingly pushing investors towards alternative routes to market. Nearly three-quarters (73%) of respondents are actively considering repositioning or change-of-use strategies, while joint ventures emerged as the most likely deal structure over the next one to three years. Office and hotel conversions are also becoming an increasingly important source of Living supply in markets such as Singapore and Hong Kong.

Josh Rose-Nokes, Director, Living Research, APAC at Cushman & Wakefield, said: “What stands out is not a shortage of capital, but a shortage of investable stock. Investors increasingly want stabilised, income-producing Living assets, yet much of APAC lacks sufficient institutional-grade product to satisfy that demand. This mismatch is driving greater competition for stabilised assets and accelerating interest in repositioning, conversions and partnership-led deployment strategies.”

The gap between buyer and seller expectations was identified as the leading investment challenge by 44% of respondents, followed by development viability at 29%. Limited transaction evidence and inconsistent market transparency were also highlighted as barriers to pricing assets accurately and deploying capital efficiently.

About the Survey

The inaugural APAC Living Investor Survey 2026 draws on insights from institutional investors, fund managers, listed property groups and specialist Living-sector participants across APAC, representing approximately 224,000 units or beds. For the purposes of this survey, diversified respondents refer to investors with exposure across multiple real estate sectors and exclude Living-only specialists. The survey was fielded in Q2 2026 during the Middle East hostilities and provides insights into investor sentiment, capital allocation trends and investment priorities across the APAC Living sector. Estimated five-year capital deployment figures were derived from banded responses using midpoints.

For more information and to download the report, please click here.

About Cushman & Wakefield’s Living Platform

Cushman & Wakefield’s Living platform provides integrated advisory services to investors, developers, and operators across the residential investment spectrum, including multifamily, build-to-rent, purpose-built student accommodation, co-living, and senior living. The team delivers integrated advisory across capital markets, valuation, development consultancy, and asset strategy, supported by proprietary research and a region-wide Asia Pacific network, as well as dedicated research and consultancy professionals who provide strategic insights and execution capabilities across the region. Click here for additional information.

Hashtag: #Cushman&Wakefield

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (www.linkedin.com/company/cushman-&-wakefield-greater-china).

In his welcome address, Professor Joshua Mok, President of HSUHK, highlighted the University’s leading position in liberal arts education and its commitment to nurturing leaders who combine innovation with humanistic care to serve local and global communities. He encouraged students to broaden their horizons, care for society, and translate their learning into a force for social progress.

Professor Sam Park, Dean of SBUS, said, “As the first cohort and the earliest participants, this is both a responsibility and an extraordinary opportunity for all of you.” He encouraged students to build an ecosystem of capabilities throughout the programme, learn to let go of outdated approaches and relearn, and develop the critical judgement essential in the AI era, becoming leaders who can responsibly harness AI and drive future business transformation.

Professor Victor Lau, Associate Dean (Taught Postgraduate Programmes) of SBUS and MBA (in Chinese) Programme Director, noted that SBUS at HSUHK is the first private university business school in Hong Kong to be accredited by AACSB International, placing it among the fewer than 6% of business schools worldwide with this distinction. The MBA (in Chinese) is the University’s first business master’s programme conducted in Chinese, with close to 220 students admitted in its inaugural intake. Professor Lau encouraged students to seize this valuable opportunity and work together with faculty and fellow students to build a vibrant culture, alumni network and future direction.

The MBA (in Chinese) aims to cultivate future business leaders equipped with business management knowledge, ethical leadership, environmental, social and governance (ESG) awareness, digital transformation capabilities, and an understanding of both Chinese and Western business practices. Set against the backdrop of the Greater Bay Area’s development, the curriculum integrates the wisdom of the Chinese classic I Ching (Book of Changes), artificial intelligence, liberal arts education and professional business training to help students develop international perspectives, strategic thinking and cross-cultural understanding.

Distinctive modules include “Wisdom of I-Ching in Business Context”, “AI, Data Analytics, and Robotics in Business”, and “Finance and Financial Technology (FinTech)”, enabling students to examine how emerging technologies affect corporate operations, management decisions and business models, and to explore shifts and opportunities in the new business landscape.

For more information on the programme, please visit: https://sbus.hsu.edu.hk/programmes/postgraduate-programmes/master-of-business-administration-in-chinese/

Photo 1: (From left) Dr Josiah Chan, Vice-President (Organisational Development); Professor David Tse, Acting Provost and Vice-President (Academic and Research); Professor Joshua Mok, President; Professor Jeanne Fu, Vice-President (Learning and Student Experience); Professor Sam Park, Dean of SBUS; and Professor Victor Lau, Associate Dean (Taught Postgraduate Programmes) of SBUS and MBA (in Chinese) Programme Director, officiate at the launch ceremony for the inaugural MBA (in Chinese) cohort.

Photo 2: A robot performance blending Tai Chi, traditional Chinese culture and AI elements illustrates the fusion of ancient wisdom and technological innovation.

Photo 3: A group photo of HSUHK senior management, distinguished guests and the first cohort of MBA (in Chinese) students.

Hashtag: #HSUHK #BusinessSchool

https://sbus.hsu.edu.hk

The issuer is solely responsible for the content of this announcement.

About The Hang Seng University of Hong Kong

The Hang Seng University of Hong Kong (HSUHK) is a non-profit private liberal-arts-oriented university with six Schools (Business, Communication, Decision Sciences, Humanities and Social Science, Translation and Foreign Languages, and Transdisciplinary Studies), and over 7,000 full-time undergraduate and postgraduate students. With its unique “Liberal + Professional” education model, HSUHK nurtures young talent with critical thinking, innovative minds, caring attitudes, moral values and social responsibility.

Aspiring to be a leading private university in the region, HSUHK prioritises stellar undergraduate education, top-quality faculty members, award-winning green campus facilities, innovative degree programmes, a unique residential college system that combines living and learning, interactive small-class teaching, close student-teacher relationships, impactful research, and excellent student development and support services.

HSUHK has earned various international recognitions. In the AppliedHE’s ALL ASIA Private University Ranking 2026, it secured 7th place in China. HSUHK ranked 24th in Social Sciences and Humanities and 23rd in both Business and Management and Economics and Finance among China’s top universities in the Research.com Top Universities and Top Scientists Rankings 2026. The MSc in Global Supply Chain Management programme achieved 84th place globally in the QS International Trade Rankings 2025. Additionally, HSUHK’s School of Business obtained AACSB International accreditation in 2023, a mark of excellence held by only 6% of the world’s leading business schools. HSUHK was also ranked among the top 200 worldwide on “Quality Education” and “Decent Work and Economic Growth” in the Times Higher Education University Impact Rankings 2021.

Completion strengthens STTGDC’s ability to scale AI-ready digital infrastructure, building on strong operating momentum while maintaining continuity of strategy, leadership and customer commitment

SINGAPORE – Media OutReach Newswire – 2 September 2026 – STTGDC today announced the completion of its acquisition by a KKR-led consortium comprising funds managed by global investment firm KKR and Singtel, and unveiled a refreshed global brand, marking the beginning of the company’s next chapter as a global digital infrastructure platform.

The transaction strengthens STTGDC’s ability to execute a strategy already in motion, with long-term capital, increased financial flexibility and the consortium’s global infrastructure experience providing continued growth and momentum. Customers will continue to be served by the same leadership team, operating discipline and long-term commitment that have underpinned the company’s growth for more than a decade.

Retaining the STTGDC name, the refreshed brand reflects the scale, capabilities and global platform the company has built over more than a decade. It is anchored in Built Ready, expressing STTGDC’s focus on delivering the reliable, resilient and AI-ready infrastructure required by customers across Asia, the United Kingdom and Europe.

“Today marks the most important turning point in STTGDC’s evolution since we founded the company more than 12 years ago,” said Bruno Lopez, President and Group CEO of STTGDC. “The completion of this transaction signals the beginning of a new chapter for our company. We have spent over a decade building a global platform with the scale, capabilities and operating discipline needed to support the next generation of cloud and AI growth. With the KKR-Singtel consortium’s investment, we have greater capacity to grow and execute at scale while remaining true to the values and customer commitment that have defined STTGDC from its inception. Our refreshed brand reflects both the company we have become and the responsibility we carry as digital infrastructure becomes increasingly critical to economies, businesses and communities. Built Ready is our commitment to delivering the critical infrastructure our customers need to grow with confidence, while building responsibly and sustaining the trust of governments, customers and communities.”

STTGDC enters this phase with strong operating momentum and a substantial development pipeline. Since the end of 2025, operational capacity has increased by 25% to 780MW. In addition, contracted capacity has grown by 50% and annualised earnings before interest, taxes, depreciation, and amortisation (EBITDA) has risen by 30%[1], reflecting continued demand from hyperscalers, cloud service providers, AI customers and enterprises across its markets.

As AI changes the scale, density and complexity of data centre development, the industry’s defining challenge is increasingly the ability to convert demand into delivered capacity. This requires more than capital or land. It depends on coordinated planning across power, cooling, design, supply chains, financing and local market conditions, together with the discipline to deliver and operate mission-critical infrastructure reliably.

STTGDC’s growth strategy remains focused on markets where customer requirements, power availability, infrastructure readiness, policy alignment and long-term fundamentals support responsible development. With close to 2GW of powered land secured for assets under construction and pipeline development, the company is well positioned to convert customer demand into delivered capacity. Its global platform capabilities and local execution experience enable it to navigate the distinct operating conditions in each market.

This approach guides STTGDC’s growth and investment across its global portfolio.

In India, STTGDC has 34 data centres across 10 cities and more than 613MW of IT capacity. The company is strategically scaling its IT load capacity to support the country’s expanding digital economy.

In Indonesia, STTGDC has been expanding its Jakarta campus, advancing a development pipeline of more than 360MW of AI-ready IT capacity backed by secured power. Recent development milestones continue to strengthen the company’s ability to support Indonesia’s growing cloud, AI and digital infrastructure requirements.

Singapore remains strategically important. The selection of STTGDC to develop 50MW of sustainable, AI-ready data centre capacity will support Singapore’s continued development as a trusted and resilient hub for AI, digital infrastructure and international connectivity, contributing to the country’s strategic, economic and sustainability priorities.

Responsible growth will remain integral to STTGDC’s business and operations. With 83.2% of electricity consumption across its operations sourced from renewable energy, STTGDC surpassed its 2028 carbon intensity reduction target three years ahead of schedule. Alongside its environmental commitments, the company works closely with governments, customers and communities to address local priorities and earn the trust that underpins its social licence to operate.

The issuer is solely responsible for the content of this announcement.

About STTGDC

STTGDC is a leading data centre platform enabling the cloud, AI and digital services that power how people live, work and connect. Headquartered in Singapore, the company operates across Asia and Europe, serving major hyperscalers, cloud service providers and enterprises. Built on trust and proven execution, STTGDC combines global scale, operational discipline and deep local expertise to deliver the resilient, scalable and sustainable infrastructure customers rely on to grow with confidence, unlock new possibilities and seize the opportunities ahead. For more information, visit www.sttgdc.com.

The expansion comes as demand for premium flexible workspace in prime locations continues to rise, with businesses increasingly prioritising hybrid-work flexibility over long-term fixed leases. Flexible workspace accounted for 5.5% of Singapore’s total office stock as of 1H2026, reflecting strong headroom for growth in the office landscape. (CBRE)

“Businesses today are much more deliberate about where they locate their teams. They want the flexibility of a managed workspace, but they are not willing to compromise on the quality of the address, connectivity or the experience they offer their employees,” said Kong Wan Long, Chief Commercial Officer, JustCo. “Raffles City Tower responds to that demand and gives us an important presence in the downtown business district, where we see continued opportunity to serve both established businesses and growing teams.”

A Landmark Address Backing Business Growth

The new centre is located within Raffles City, an integrated development in the heart of Singapore’s Civic District, combining Grade-A offices with retail, hospitality and convention facilities. As part of ongoing enhancements, Raffles City Tower is being refreshed with upgraded key touchpoints, improved wayfinding and new end-of-trip facilities.

The addition reflects JustCo’s strategy of anchoring its premium centres in landmark, high-connectivity locations. The office tower offers expansive city views, generous natural light, a fully sheltered drop-off point and concierge services, providing a convenient and professional setting for employees, clients and visitors.

JustCo Raffles City Tower sits directly above City Hall MRT Interchange, serving the North-South and East-West Lines, with seamless sheltered connectivity to Esplanade MRT on the Circle Line. Connectivity has become an increasingly important consideration in JustCo’s site selection strategy as businesses place greater emphasis on commute convenience when making return-to-office decisions.

Design Built Around How Businesses Actually Work Today

Beyond the address, the centre’s design draws on the site’s educational heritage as the former home of Raffles Institution, reinterpreting elements of the traditional classroom for the contemporary workplace. The concept takes cues from environments built around exchange, shared thinking and development, translating these qualities through natural materials, layered textures and refined detailing that support focused work and collaboration.

This reflects a broader shift among JustCo’s clients: as companies invest more in employee learning, workshops and cross-team collaboration, they are seeking environments built for knowledge-sharing, not just desks.

JustCo Raffles City Tower offers private offices, dedicated workspaces, and meeting and collaboration areas, giving businesses the flexibility to scale their footprint as needs change.

A Strategic Addition to JustCo’s Singapore Growing Network

JustCo Raffles City Tower adds to the company’s growing portfolio of Singapore locations, which includes the THE COLLECTIVE Labrador Tower, which opened in January this year, and upcoming centres at The Octagon by the boring office, as well as JustCo Place on Orchard Road. JustCo Place will see the Group expand its platform beyond flexible workspaces into coliving as an extension of an integrated service offering to our coworking customers. The new coliving project is a management contract while the coworking centre is already 100% occupied.

Businesses can explore flexible workspace solutions at JustCo Raffles City Tower via the JustCo website

Across Asia Pacific, the Group continues to deepen its footprint across key growth markets. Since the start of the year, the Group has opened locations in Bengaluru, Gurugram, Kuala Lumpur, Manila, Mumbai, Singapore, Taipei and Seoul. In the coming months, there will be additional openings in Malaysia, Singapore and Thailand, reinforcing its disciplined expansion strategy and regional growth momentum.

Disclaimer

DBS Bank Ltd. and UBS AG, Singapore Branch are the joint issue managers (the “Joint Issue Managers”) for the initial public offering of shares in, and the listing of, the Company on the Mainboard of SGX-ST. The Joint Issue Managers assume no responsibility for the contents of this presentation or announcement.

Hashtag: #JustCo

https://www.justcoglobal.com/

The issuer is solely responsible for the content of this announcement.

About JustCo Holdings Limited

JustCo is a platform building the future of work across Asia Pacific. Our vision is to be the global benchmark for flexible workspace by creating connected ecosystems where people, businesses and communities can thrive.

Through our portfolio of brands, including THE COLLECTIVE, JustCo and the boring office, we support organisations of all sizes, from startups and SMEs to multinational corporations, with flexible workspace solutions across multiple cities and markets.

Beyond workspace, JustCo helps businesses scale faster through flexibility, operational simplicity and access to a regional network. For landlords, we transform buildings into vibrant business destinations that attract demand, enhance asset performance and create long-term value.

Together with our members, partners and landlords, we are building an ecosystem that connects work, business, learning, wellness and community, enabling people and organisations to grow and succeed.

For more information, visit: justcoglobal.com