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China Evergrande FY'16 net profit up YOY; China Jinmao plans US$400M redemption

* China Evergrande Group said net profit for the year ended Dec. 31, 2016, amounted to 17.62 billion Chinese yuan, up 1.6% year over year. EPS decreased to 36.6 fen from 70.3 fen in the same period.

* China Jinmao Holdings Group Ltd.'s Franshion Capital Ltd. plans to redeem US$400.0 million of perpetual subordinated convertible securities April 27. The securities will be redeemed at a price equal to 110% of the principal amount thereof, plus distributions accrued and unpaid to the redemption date.

Hong Kong and China

* Guangzhou R&F Properties Co. Ltd. served as a guarantor for 25% of Tianjin Jinnan Xincheng Real Estate Development Co. Ltd.'s loans worth 7.5 billion yuan.

Separately, Agile Group Holdings Ltd. said it also guaranteed a portion of the loan from the Beijing branch of China Bohai Bank.

* Sunac China Holdings Ltd. Chairman Hongbin Sun said the Chinese government's efforts to impose policies to control property prices are expected to hit home sales in the second half of 2017, the South China Morning Post reported. Sun added that he is "very negative on the market as a whole in longer term," according to the publication.

* CBRE forecasts that China's stricter controls on outbound capital and weaker demand from multinational companies will affect the pace of leasing activity in Hong Kong in 2017, the SCMP reported. Approximately 2.8 million square feet of offices are due to be completed in the year, according to CBRE.


* Australian mortgage broker Mark Ellis is said to have raised A$1.5 billion in capital to be channeled toward residential developments financing.

* Property developer Tim Gurner was unable to clinch approval from Planning Minister Richard Wynne for a proposed A$350 million apartment project in Fitzroy North, Victoria, due to an issue on height requirements, The Australian Financial Review reported.

* Saudi Arabia-backed fund Crestmount Capital invested A$100 million in residential developer Piety Investments for the One the Waterfront project in Lidcombe, Sydney.

* M&G Real Estate is selling the 628 Bourke Street office tower in Melbourne for about A$180 million, The Australian reported.


* The Bank of Japan plans to tighten oversight of Japanese financial institutions' lending exposure to the real estate sector, The Mainichi Shimbun reported. The central bank will conduct on-site inspections for regional banks and other lenders facing increased risk from real estate loans.

Southeast Asia

* CapitaLand Ltd. and City Developments Ltd. are among the major Singaporean property companies that have explored shared office spaces for their properties, due to a slowing economy and changing tenant preferences, the Nikkei Asian Review reported.

* CapitaLand's CapitaLand Mall Asia became the manager of the SingPost Centre mall in Singapore after it signed a third-party mall management contract.

* Megaworld Corp. said its issuance of fixed-rate 5.3535% bonds upsized to 12 billion Philippine pesos was oversubscribed 2.2x due to strong demand from institutional and retail investors in the Philippines.

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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.

Cam Nones and Jaekwon Lim contributed to this report.