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China Evergrande sells China Vanke stake; Airbnb sets up shop in Japan

* As part of a deal with Shenzhen Metro Group Co. Ltd., China Evergrande Group sold its entire 14.07% stake in China Vanke Co. Ltd. for approximately 29.20 billion Chinese yuan. During the transaction, 1,553,210,974 China Vanke A shares owned by a subsidiary of China Evergrande were sold at 18.80 yuan apiece.

* The passing of a legislative bill allowing private home owners to rent out spaces in Japan triggered the expansion of Airbnb's business in the country. According to the new measure, homeowners who are interested to have their properties rented are required to register with local governments, which are expected to implement their own restrictions.

Hong Kong and China

* For the month ended May 31, China Resources Land Ltd., recorded 12.14 billion yuan in contracted sales, representing gross floor area sales of approximately 778,100 square meters.

* Swire Properties Ltd. will mark its entrance into Shanghai with the development of a five-star hotel that is expected to open late 2017. The Hong Kong developer will manage the hotel project, which is a joint development with HKR International Ltd., according to an earlier announcement.

* The South China Morning Post reported that developers, such as China Vanke's Hong Kong-listed unit and Cheung Kong Property Holdings Ltd., are using their own funds to provide financing support to buyers to encourage sale amid the region's tightened lending controls. The publication noted that Vanke Property (Overseas) will use its funds intended for land purchases to provide mortgages to buyers of its first Hong Kong project, while Cheung Kong offered aggressive loans to potential customers in its Ocean Pride site.

* The Hong Kong Lands Department will commence on June 16 the tender invitation for a 4,620-square-meter residential land plot in Sha Tin, New Territories, in Hong Kong.

* Moody's said Powerlong Real Estate Holdings Ltd.'s 2.98 billion yuan acquisition of a Shanghai land parcel will not immediately impact the company's B1 corporate family and B2 senior unsecured ratings, as well as its stable outlook for the latter.

* Changes to housing regulations in the Chinese city of Shanghai sparked a public protest that is "rarely seen" in the area, Reuters reported.


* GuocoLand Ltd. is planning to issue S$170 million in 3.85% bonds due February 2023, according to The (Singapore) Business Times. The paper noted that proceeds from the issuance will be used to refinance existing debt and as general working capital.

* CapitaLand Commercial Trust canceled S$21.8 million worth of 2.5% convertible bonds due Sept. 12 after holders opted to exercise their conversion rights. The canceled bonds are part of a S$175.0 million issuance.

* StorHub (Songjiang) Property Pte. Ltd., a dormant wholly owned unit of CapitaLand Ltd., has been struck off from the register of companies.

* Hind Group is selling a 79-room boutique hotel in Chinatown to 8M Real Estate for a price consideration of S$75 million to S$76 million. According to The (Singapore) Business Times, the Naumi Liora has a gross floor area of more than 27,000 square feet.


* Robinsons Land Corp. is adding an office building in its mixed-use complex in Naga City, Camarines Sur, in the country's Bicol region. The Philippine Star reported that the planned office building, which will have 5,900 square meters of leasable area, is reserved for companies in the business process outsourcing industry.


* NorthWest Australia, a subsidiary of NorthWest Healthcare Properties REIT, started a mandatory buyout of all Generation Healthcare REIT units that it does not already own. The buyout comes after NorthWest Healthcare upped its stake in Generation to 93.6% at the expiration of its all-cash unconditional offer for the Australian real estate investment trust.

* Real estate analysts and homebuyer agents cited by The Australian believe that housing affordability measures implemented in New South Wales and Victoria could further push home prices up. Rich Harvey, president of Real Estate Buyers Agent Association, said subsidies offered in the two states to homebuyers will affect property demand and not the supply, as some buyers decided to wait for the rule's implementation and backed out of agreements.

* Singaporean developer Fragrance Group kicked off selling apartments in a 47-level tower that it is developing in Melbourne's Collins Street. According to The Sydney Morning Herald, the developer gained planning approval for the project after cutting the tower's height to 160 meters from 302 meters.

South Korea

* Year-over-year comparison of housing prices made by The Korea Herald found that Metropolitan cities in South Korea have seen increases, while provincial cities recorded decreases. Accordingly, The Chosun Ilbo reported that in the first half of 2017, Seoul gained the fastest growth in housing prices, citing Real Estate 114's data.

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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.

Rollen Catorce contributed to this report.