* A consortium backed by South Korean securities brokerage company Meritz Securities Co. Ltd. is in exclusive negotiations with Dutch property company Breevast BV to purchase the Finance Tower in Brussels for more than €1.3 billion, Bloomberg News reported, citing people with knowledge of the talks. The buying consortium targeting the 36-story tower includes European asset manager The Valesco Group and Seoul-headquartered AIP Asset Management.
* Boston-based real estate investment manager AEW Capital Management Inc. is aiming to raise more than US$1 billion for its fourth Asia-focused value-added fund, AEW Value Investors Asia IV, DealStreetAsia reported, citing unnamed industry sources.
Southeast Asia
* Oyo Hotels & Homes plans to invest US$100 million in Indonesia over the next two years as part of its expansion strategy for the country, Nikkei Asian Review reported, citing a KrAsia interview with Ritesh Agarwal, CEO of the Indian hospitality unicorn. The SoftBank Group Corp.-backed company unveiled the plan following the launch of the Partner Engagement Network initiative, which aims to help Oyo Hotels' Indonesian partners to achieve their business goals.
* Singapore's Urban Redevelopment Authority closed the public tender for three residential-focused development sites in the city-state on Sept. 5. The 11,530.8-square-meter Tan Quee Lan Street property secured a top bid of about S$800.2 million, while the 3,846.2-square-meter Bernam Street site and the 5.778.7-square-meter One-North Gateway property respectively attracted top bids of S$440.9 million and about S$155.7 million, according to separate news releases.
Greater China
* China Overseas Land & Investment Ltd.'s contracted property sales in August increased to nearly HK$28.81 billion from about HK$26.16 billion in the prior-year period. Meanwhile, the respective contracted sales of Sunac China Holdings Ltd. and China SCE Group Holdings Ltd. for the period also grew by 27% to approximately 51.27 billion yuan and by 47% to roughly 5.92 billion yuan.
* Sun Hung Kai Properties Ltd. is expected to unveil in the week of Sept. 16 the price list for units at its Cullinan West III residential development in Kowloon, Hong Kong, Oriental Daily reported.
* The asking prices for six residential property listings in Hong Kong rose by between HK$100,000 and HK$300,000 following the government's withdrawal of the controversial extradition bill, which elicited public protests in the city, South China Morning Post reported, citing figures from Hong Kong Property Services (Agency) Ltd. and Midland Realty.
Japan
* The government of Yokohama City appointed Mitsui Fudosan Co. Ltd. to redevelop the site where the city hall is currently located, Asahi Shimbun reported. The project will focus on the construction of a 30-level skyscraper that will be used as headquarters for industry-academia collaboration, while the current city hall will be preserved and used by Hoshino Resorts Inc.
* Far East Hospitality Trust is planning to open its first hotel in Japan in the second quarter of 2020 and before the 2020 Tokyo Olympics, The Business Times reported. The Singapore-based hotelier co-owns the 306-key Village Hotel Ariake Tokyo with Far East Organization Pte. Ltd. under a 50/50 joint venture agreement.
India
* The National Consumer Disputes Redressal Commission directed Unitech Ltd. to pay compensation to 33 home buyers and complete its construction of delayed flats within nine months, Mint reported. Upon the completion of the residential units, the properties will be handed over to home buyers within two months of obtaining occupancy certificates.
Australia
* Boutique funds management company Serene Capital is selling the Ibis Swanston Street hotel in Melbourne's central business district. The property is expected to pique the interest of hotel groups and student accommodation operators, with CBRE Hotels and Colliers International helping to market the asset.
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