* The delisting of Global Logistic Properties Ltd. from the Singapore bourse has been approved in principle by the Singapore Exchange Securities Trading Ltd. Nesta Investment Holdings Ltd.'s privatization bid for GLP is still subject to the approval of a majority of its shareholders, among other conditions.
* AccorHotels submitted an indicative and nonbinding A$1.2 billion control proposal for Australian hotel operator Mantra Group Ltd. The merger, if completed, will result in a hotel business that owns roughly a dozen brands, with more than 50,000 rooms across 300 hotels in Australia.
Hong Kong and China
* The bank accounts of an indirect subsidiary of Shenzhen Investment Ltd., containing nearly 549.2 million Chinese yuan combined, have been frozen by The People's Procuratorate of Jianli County of Hubei Province after the subsidiary was found guilty of violating certain regulations when it won the Terra-Nanhu Rose Bay Project during public bidding in August 2005. The court also ruled that the subsidiary's executives were guilty of bribery, and they were ordered to pay 557.4 million yuan, with three former executives sentenced to imprisonment for 1.5 years.
The company assured that the freezing of the bank accounts will not have any material impact on the assets, financials and operations of the group. It also said the subsidiary has decided to appeal the court's ruling.
* Major developers in Hong Kong are competing for a 29,000-square-foot development site in Central's Peel Street and Graham Street, which is tipped to fetch north of HK$10 billion, The (Hong Kong) Standard reported.
Competitors for the commercial site include CK Asset Holdings Ltd., Sun Hung Kai Properties Ltd., New World Development Co. Ltd., Henderson Land Development Co. Ltd. and Wing Tai Properties Ltd.
* Logan Property Holdings Co. Ltd. recorded a 71.4% year-over-year increase in its contracted sales for September to about 4.32 billion yuan, which translates to 216,000 square meters of sold gross floor area.
For the nine months ended Sept. 30, the company accumulated an estimated 31.38 billion yuan in sales, up 45.5% from a year ago. The unaudited 2017 nine-month figure represents sales area of 1,783,000 square meters.
* Guangzhou R&F Properties Co. Ltd.'s contracted sales for the nine months ended Sept. 30 grew 22% to 59.39 billion yuan, representing sales area of about 4,570,900 square meters.
* CapitaLand Retail China Trust's S$500.0 million medium-term note program, established April 9, 2012, has been updated to become a S$1.00 billion debt program.
Proceeds from offerings drawn under the updated program may be used for the refinancing of the existing debt of the trust and its subsidiaries, funding for acquisitions and/or investments of the company, loans for affiliates, and for general working expenditures and other uses.
* The city of Sanya in China's Hainan Province tightened property market regulations, now requiring non-local resident to have two years of social insurance record in the province before being allowed to buy a house, National Business Daily reported. The properties bought cannot be resold within five years.
* Viva Industrial Trust opted not to buy Ho Lee Group Pte Ltd.'s Ang Mo Kio property at 7000 Ang Mo Kio Ave. 5, Singapore. The property was offered to the company for S$300 milion, pursuant to a right of first refusal agreement between the seller and the trust's managers.
* A subsidiary of CapitaLand Ltd. priced its proposed S$500.0 million offering of 3.08% fixed-rate notes due 2027 at 100% of its principal amount.
* Ayala Land Inc. said options for its SIAL CVS Retailers Inc. joint venture, which oversees the operations of 24/7 convenience store FamilyMart, are still being reviewed. The clarification was made due to a report from the Philippine Daily Inquirer, which claimed that the FamilyMart business is on the auction block.
* Megaworld Corp. is on track to increase its 888,500-square-meter office portfolio by 111,500 square meters by 2017-end. The company said it expects to become the first Filipino developer to have 1 million square meters of office inventory.
* Credit Suisse offered to buy a 14.9% stake in Centuria Capital Group for A$1.48 per share off-market on behalf of the Warburg Pincus-backed ESR Pte. Ltd., The Australian Financial Review reported. The offer comes on the back of ESR's A$110 million purchase of an 18.06% stake in Propertylink, which was recently targeted by Centuria.
* The Indian arm of Emaar Properties PJSC is looking to raise up to 4.00 billion rupees within the next six months in a bid to speed up the completion of its ongoing projects amid an ongoing demerger.
* Japan will launch a public insurance scheme that provides rent coverage for properties rented out to welfare recipients, Jutaku-Shimpo-Sha reported. The so-called housing safety net program will go into effect Oct. 25.
Other real estate news
* Singapore-listed City Developments Ltd. is offering a £1.79 billion deal for all the shares that it does not already own in U.K.-based hospitality company Millennium & Copthorne Hotels Plc.
* Korean investors, through GLL Real Estate Partners GmbH, purchased a logistics portfolio of 135,000 square meters of commercial space in Finland for an investment volume estimated to be in the "hundreds of millions."
The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Articles and links are correct as of publication time.
Cam Nones, Emily Lai and Jaekwon Lim contributed to this report.
As of Oct. 9, US$1 was equivalent to 6.63 Chinese yuan, 65.44 Indian rupees and S$1.36.