* Thailand's Asset World Corp PCL raised 48 billion baht through an IPO of 8 billion shares at 6 baht each, Reuters reported. Thirteen cornerstone investors subscribed to half of the shares in the offering, with Singapore's sovereign wealth fund GIC Pte. Ltd. buying US$300 million worth of the company's shares.
* UNIZO Holdings Co. Ltd. pulled back its support for Fortress Investment Group LLC's US$1.3 billion takeover bid for the company, Reuters reported. The Japanese hotel operator, which had previously welcomed Fortress Investment's offer, said it was looking for better terms. In August, Fortress Investment made an offer to acquire the business for ¥4,000 per share, beating Tokyo-based travel agency H.I.S. Co. Ltd.'s ¥3,100-per-share offer.
Greater China
* Keppel Corp. Ltd.'s Chinese unit has agreed to acquire a commercial property in the Pudong District of Shanghai for 493 million yuan, subject to completion adjustments. The transaction for the roughly 14,518-square-meter property is scheduled to be completed in the fourth quarter.
Singapore
* An associated company of CapitaLand Ltd. is acquiring office space in the Plus building at 20 Cecil Street, Singapore, from a fund led by Hong Kong-listed Fullshare Holdings Ltd., The Business Times reported, citing sources. The deal is expected to exceed S$500 million, the sources said.
* Mapletree Commercial Trust's trustee and subsidiary signed a conditional deal to buy the Mapletree Business City business park in Pasir Panjang, Singapore, for a total of about S$1.58 billion from Heliconia Realty Pte. Ltd., a unit of the company's sponsor. The property comprises 1,184,704 square feet of net lettable area across four blocks.
Australia
* A joint venture between Singapore-based The Ascott Ltd. and Qatar Investment Authority bought a 252-room hotel project in Sydney for A$202 million, The Australian Financial Review reported. The hotel will be inside a 48-story mixed-use tower at 86-88 Walker Street. It is set to open in 2021.
* Property developer Caydon CEO Joe Russo claims his signature was forged on a transaction that is part of a A$400 million fraud allegedly committed by Australia's LBA Capital against South Korea's JB Asset Management, The Sydney Morning Herald reported. According to court documents, LBA Capital paid Caydon A$30 million for a residential property in Melbourne. Russo, however, claims no agreement was made between the two parties.
* Retailer 7-Eleven Inc. intends to sell a portfolio of 15 key properties Australia in an auction that could fetch the company A$70 million, The Sydney Morning Herald reported. The company is also planning to improve 293 stores and launch parcel locker service across 400 stores.
Indonesia
* Indonesia state-owned construction company Waskita Karya plans to invest in public-private partnership projects in the country's planned capital city in North Penajam Paser and Kutai Kartanegara, The Jakarta Post reported. Bambang Rianto, operations director at the company, said the company will invest in public-private partnerships related to real estate, infrastructure and energy.
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. Links are current as of publication time, and we are not responsible if those links are unavailable later.
