* Dalian Wanda Commercial Properties Co. Ltd.'s parent companyDalian Wanda Group Co. Ltd. said that it joinedthe Fortune Global 500 for the first time, ranking 385th in the list of the world'sbiggest companies.
DalianWanda, China Vanke Co. Ltd.and China Evergrande Groupare among 13 Chinese entities that debuted in the list, the South China Morning Post reported.
* Meanwhile, Dalian Wanda reacheda deal to sell the EdificioEspana in Madrid, AFP reported, citingan unnamed source familiar with the transaction. Spanish investment group Barakaoffered over €265 million to acquire the building, according to the source.
* said DLF Home Developers Ltd.partnered with Ridgewood Holdings Ltd. for a restructuring of their shareholdingsin seven residential properties, according to a filing.Blackstone-managed Ridgewood Holdings would completely own two land parcels in Bengaluruand one in Chennai, while DLF would own two land parcels in Chennai, the Press Trustof India reported.
* C C Land Holdings Ltd. and its subsidiaries may record amore than 90% drop in its profit attributable to shareholders for the first halffrom approximately HK$588 million a year ago. The group attributed the likely decreaseto several factors, including a significant drop in recognized revenue after itsold a number of assets in the first half.
* Westfield Corp. and LendleaseCorp. Ltd. are expected to endure the negative impact of the Brexitvote in their U.K. operations, The Australianreported.Westfield's exposure in the country includes its £1.4 billion regeneration scheme in London in partnershipwith Hammerson Plc, whileLendlease is involved in the £2 billion development a residential scheme in north London.
* DEXUS Property Group entered the A$172 billion healthcaremarket by partnering with Ramsay Health Care to build a 128-bed private hospitalin Sydney, The Australian reported.
* Chinese company Poly Real Estateacquired two George Street office properties near Circular Quay, Sydney, for A$160million, with the sale price almost 60% higher than figures when they were soldin 2015, The Australian Financial Reviewreported.
* The Chinese government-backedASF Group's A$140 million purchase of the Sheraton Mirage resort on the Gold Coastis expected to be completed July 29, The Australianreported,citing unnamed sources.
HONG KONG AND CHINA
* Chinese banks seek to find away out of its funding agreements with Baoneng Group, following from China Vanke for regulatorsto investigate its largest shareholder, Reuters reported,citing a Caixin report.
* China Overseas Land & Investment Ltd. gained approvalfrom shareholders for its 31.00 billion-Chinese-yuan deal with CITIC Ltd. for residential-focused property developmentprojects in China.
* Regal Hotels International Holdings Ltd. seeksto list US$350.0 million 3.875% notes due 2021 under a US$1.00 billion medium-termnote program. The listing of and permission to deal in the notes are expected tobecome effective on or about July 21.
* Greenland Hong Kong Holdings Ltd. agreed on a placement dealfor the issuance of unlisted US$120.0 million 5.625% senior perpetual capital securitiesunder a US$2.00 billion medium-termnote program. The company plans to use the net proceeds from the deal to refinancesome of its existing indebtedness.
* UOL Group Ltd.'s Pan Pacific Hotels Group will unveil thefirst Pan Pacific brand hotel in Beijing in the first half of 2017. Pan PacificBeijing will have 223 rooms, according to a news release.
* Property inventoriesin 35 cities stood at 247.31 million square meters in the first half, down 5.2%year over year, China Securities Journal reported,citing E-House Real Estate Institute data.
* Japan Hotel REIT Investment Corp. priced itsissuance of new investments units worth around ¥34.92 billion. The company willoffer 428,260 new investment units at ¥81,536 apiece. The subscription period forthe issuance will begin July 21.
* Following S&P Global Ratings'revision of its parent's outlook, AEONMall Co. Ltd.'s ratings outlook was changed to negative from stable,while its BBB+ long-term corporate credit rating was affirmed.
* According to CBREInc., the office vacancy rate in central Osaka during the second quarter was 4.9%,down for the 13th consecutive quarter, Tokyo's The Nikkei reported.
* Mori Building Co.Ltd. and Obayashi-Shinseiwa Real Estate Co. Ltd. launched the Shimbashi 4-chomeredevelopment project in Minato-ku, Tokyo, which will involve the construction ofa 15-story building, Jutaku-Shimpo-Shareported.
* Keppel Capital raisedUS$130 million for the Alpha Data Centre Fund and US$280 million for the Alpha AsiaMacro Trends Fund, which are two property funds that will invest in data centers,IPE Real Estate reported.
* 's bond worth 10 billion Philippinepesos was over 4.8x oversubscribed at the base offer, amounting to a total demandof 29 billion pesos, The (Philippine)Standard reported.
Now featured on S&P GlobalMarket Intelligence
:The creation of the U.K.'sbiggest residential REIT, Propertylink's global investor roadshow and a new SpanishREIT's debut made news during the week.
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Cam Nones, Jaekwon Lim and SpencerSheehan contributed to this report.