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China Vanke Q1 profit jumps 28.14% YOY; Blackstone nears S$300M deal in Singapore

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


China Vanke Q1 profit jumps 28.14% YOY; Blackstone nears S$300M deal in Singapore

* China Vanke Co. Ltd.'s first-quarter profit attributableto equity shareholders increased 28.14% year over year to 833.2 million Chineseyuan, while revenue surged63.08% to 13.71 billion yuan. The company's EPS for the quarter ended March 31 was7.5 fen, up 27.12% from first-quarter 2015 EPS of 5.9 fen.

* Private equity firm Blackstoneis purportedly readying a deal to acquire a majority stake in three Sime Darby-ownedSingapore properties, namely Sime Darby Centre, Sime Darby Enterprise Centre andSime Darby Business Centre, The (Singapore)Business Times reported.According to the report, the deal values the properties at approximately S$300 million.

* Origin Energy willinstall Australia's largest solar power-generating car park canopy at the WestfieldMarion shopping center in Adelaide on behalf of joint owners Scentre Group and LendleaseCorp. Ltd.'s Australian Prime Property Fund, The Australian Financial Review reported.According to the report, 14 solar canopies will provide cover to approximately 240car spaces.

AUSTRALIA

* Following in thefootsteps of ANZ Banking Group and Commonwealth Bank of Australia, Westpac Bankand all banks in the Westpac group have stopped lending to all foreigners buyingresidential properties in the country, the AFRreported,citing a Westpac spokesman.

* acquired an 850-square-metersite at 103-105 High St. in Prahran, Melbourne, at an auction for A$10 million,making it the Malaysian company's fourth acquisition in the Australian city, theAFR reported.

* Hengmao Group unitLYZ Property Group purchased a 4,509-square-meter commercial building in Melbourne'sHawthorn for A$17 million, the AFR reported.The property is currently leased to Snooze for 10 years and National Storage for15 years.

* Singapore-listedand -based Tuan Sing Holdings has expressed interest in the EMC office buildingat 3 Innovation Drive in Sydney's Macquarie Park, The Australian reported,citing unnamed sources. According to the report, the four-level property, whichcould be worth some A$35 million, is fully leased.

* BIS Shrapnel forecaststhat prime net face rents for offices in Sydney will rise from an average of A$890per square meter at present to A$1,200 per square meter by December 2018, the AFR reported.BIS Shrapnel Senior Project Manager Lee Walker added that due to the vacancy ratein the city, the sector will "dramatically" shift to a "landlord'smarket" in a short amount of time.

* Driven mainly byfeeble expectations around residential and office development, the first-quarteroutlook for the commercial property market declined. The AFR quoted National Australia Bank's chief economist, Alan Oster, assaying that people are "alittle bit more cautious" regarding what is going around in the officespace.

HONG KONG AND CHINA

* proposeda 2015 final dividend of 13.0 U.S. cents per share, to be paid May 11, subject toapproval at the group's annual general meeting.

* CIMB Securitiesproperty analyst Raymond Cheng was quotedby the South China Morning Post as sayingthat it would be "very difficult" for Evergrande Real Estate Group Ltd. to go private due to itsstatus as a red-chip company.

Citigroup recently saidEvergrande has "sufficient motivation" to proceed with a privatizationplan.

* said it is increasingthe discount for the 30 units on offer at The Mediterranean project in Sai Kung,Hong Kong, to up to 26% from the 14.5% discount in December 2015, thereby becomingthe latest developer in Hong Kong to slash prices and sweeten its mortgage termsto bolster sales in the upcoming Labour Day week, the SCMP reported.

* According to theSCMP,Fantasia Holdings Group Co. Ltd.'srecently announced dealto issue 600.0 million yuan 9.5% senior notes due 2019 is the first offshore yuanbond in Hong Kong — also known as dim sum bond — to be issued by a Chinese firmin 2016.

* The (Hong Kong) Standard reportedthat data shows the latest number of properties in foreclosure in the city are 50%more than at 2015-end, believed to be to attributable to the economic downturn.

* Second-hand housingtransactions in Shenzhen, China, have slumped by 64% to 6,793 units in the first24 days of April from the same period in 2015, after local municipal governmenttightened rules in the property sector in late March, according to data from realestate agency Centaline, the Southern MetropolisDaily reported.

JAPAN

* plans to expand its customized housing construction business, targeting 10,000 unitsbetween April and March 2019, Tokyo's TheNikkei reported.

* on April 27completed the Otemachi Financial City Grand Cube high-rise in Tokyo's Otemachi,The Nikkei reported.

* Tokyu Hotels Co.Ltd. will open a new luxury hotel named Tokyo Bay Tokyu Hotel in Urayasu, ChibaPrefecture, in the spring of 2018, The Nikkeireported.The 18-story hotel will have 640 rooms, making it the company's second-biggest hotel. 

SOUTH KOREA

* The average vacantratio of office buildings in Seoul increased to 10.1% in the 2016 first quarter,reflective of an increased supply and a sluggish property market, The Korea Herald reported, citinggovernment data.

PHILIPPINES

* signed Concentrix, a businessprocess outsourcing company, as a tenant at its The Mactan Newtown office projectin Cebu. According to a newsrelease, Concentrix will initially occupy around 2,600 square meters of officespace on the entire second floor of Tower 3 of 8 Newtown Boulevard.

Now featured

: Betting on ever-increasing tourist arrivals to Japan,Bain Capital-owned Ooedo Onsen Holdings is advancing a plan to list as a REIT ona domestic exchange.

IPO Monitor forthe week ending April 27: Manulife Financial revives its plans to lista REIT in Singapore while news emerged of a new Spanish REIT in the works.

The Daily Dose Asia-Pacific, Real Estate edition is updatedby 6:30 a.m. Hong Kong time. Some external links may require a subscription. Articlesand links are correct as of publication time.