* Sun Hung Kai Properties Ltd. completed its Ocean Wings waterfront residential and commercial development in Tseung Kwan O South, Hong Kong. The project unveiled in March 2016 features a complex of seven multi-unit buildings with 628 residential units.
* Frasers Property Ltd., the former Frasers Centrepoint Ltd., said its Frasers Property Holdings (Thailand) Co. Ltd. subsidiary is planning to issue debentures under its 25.00 billion-Thai-baht debenture program established in December 2017.
* Greenland International Hotels Group, the hospitality arm of Chinese state-owned Greenland Holdings Corp. Ltd., is looking to increase the number of its hotels under management to 200 from 100 by 2020, Raymond Lee, Greenland International's general manager, told the South China Morning Post.
The hospitality company is banking on the opportunities that will open up from the rollout of the Chinese government's Belt and Road initiative, and Lee was quoted by the report as saying that the company hopes to "win some deals outside Asia in 2018."
* Five Hong Kong-listed developers reported sales updates for the month of January, all of which recorded year-over-year increases.
The unaudited contracted sales of Shimao Property Holdings Ltd., Sino-Ocean Group Holding Ltd. and China SCE Property Holdings Ltd. jumped year over year by 96% to 10.02 billion yuan, by 83% to 3.52 billion yuan and by 123% to nearly 4.11 billion yuan, respectively, during the reporting month.
Similarly, contracted sales of China Evergrande Group and China Overseas Land & Investment Ltd. for January respectively grew year on year to an estimated 64.36 billion yuan from 37.20 billion yuan and to roughly HK$25.83 billion from HK$19.82 billion.
* Beijing Capital Land Ltd., on the other hand, saw its contracted sales fall to approximately 4.06 billion yuan in January from the roughly 6.29 billion yuan that was reported in the year-ago period.
* Logan Property Holdings Co. Ltd. and KWG Property Holding Ltd. provided guarantees for up to 50% of a nearly HK$10.58 billion loan granted by a syndicate of banks to Unicorn Bay (Hong Kong) Investments Ltd.
The recipient of the financial assistance is a subsidiary of Unicorn Bay Ltd., a 50/50 joint venture between Logan Property and KWG Property, and is in charge of the development of a nonindustrial site in Ap Lei Chau, Hong Kong, that was won in 2017 through the placement of a roughly HK$16.86 billion bid.
* The Hong Kong government started a new reclamation project in the outlying island of Tung Chung, aiming to provide 49,000 residential flats and about 870,000 square meters of commercial floor space. The first phase of population intake will be in 2023 to 2024, and the project is expected to accommodate a population of 144,000 and create 40,000 work opportunities. This is the first reclamation project since 2003.
Australia
* Cold-chain logistics company Swire Cold Storage Pty. Ltd., an affiliate of Swire Pacific Ltd. and Swire Properties Ltd., sold its entire business for an undisclosed amount to Texas-based Emergent Cold Technologies, the Australian Financial Review reported.
Included in the transaction are Swire Cold Storage's network of 15 temperature-controlled facilities across Australia and its cold storage business in Vietnam.
* SAI Global, a Sydney-based risk management, standards compliance and information business owned by Baring Private Equity, is believed to have reignited negotiations to buy online real estate settlement company Property Exchange Australia Ltd., which is gearing up for a potential A$1 billion IPO on the Australian stock exchange.
AFR's Street Talk reported that the targeted company, which lists Australia's big four banks and state governments as backers, is worth A$780 million based on estimations derived from the company's latest fundraising.
* Lindsay Bennelong Developments Pty. Ltd. took to market a 1.2-hectare site in Sydney with an asking price of more than A$80 million. According to the AFR, the commercial development site at 219 Pacific Highway is adjacent to land parcels occupied by Fox Sports, Chief Entertainment, Richard Crookes Construction and the Australian Securities Exchange Data Centre.
Southeast Asia
* Owners of the Pacific Mansion condominium development in the River Valley planning area of Singapore launched a public tender for the collective sale of the roughly 128,352-square-foot freehold residential site with a S$938 million price tag, The (Singapore) Business Times reported, citing CBRE, the property agent for the asset.
* Real estate and investment management company JLL said Vietnam's real estate sector will have a record year for mergers and acquisitions in 2018 after capping off 2017 with transactions amounting to US$1.5 billion, Deal Street Asia reported. Stephen Wyatt, JLL's country head for Vietnam, told the news agency that the legal system in Vietnam will continue to improve and provide more confidence to investors who are looking to establish a foothold in the country's real estate market.
Some of the notable deals that transpired in Vietnam in 2017, according to the report, are VinaLand Ltd.'s US$41.2 million sale of its entire interest in the Vina Square project in Ho Chi Minh City, CapitaLand Ltd.'s roughly US$40 million acquisition of a 1.45-hectare site and Hongkong Land Holdings Ltd.'s joint venture with Ho Chi Minh Infrastructure Investment JSC (CII).
Japan
* Frasers Property Group subsidiary Frasers Hospitality Trust earmarked S$250 million for the development of a new serviced residence in the Ginza district of Tokyo. The project, which will bear the trust's millennial-focused Capri by Fraser hotel residence brand, is expected to launch by 2020.
Rollen Catorce and Emily Lai contributed to this report.
As of Feb. 6, US$1 was equivalent to 6.28 yuan, S$1.32 and 31.60 Thai baht.
