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IOF admits DEXUS merger won't meet approval threshold; A$2B Aussie project sale canceled

* A few hours before the scheduledunit holder meeting to vote on its proposed merger with DEXUS Property Group, Investa Office Fund saidit does not expect the merger to proceed, as the valid proxies it has so far received,including a "no"vote for from , shows thatthe 75% approval threshold will not be met.

* Australian billionaire Lang Walker'ssale of the A$2 billion Collins Square development in Melbourne received just threebids, leading to the cancellation of the divestment due to the weak response, The Australian Financial Review reported.UBS was previously said to be drawing a shortlist of buyers as more than 25 parties were believed to be interestedin the development.

* Malaysia-based Astaka HoldingsLtd.'s One Bukit Senyum project in Johor, Malaysia, will have 6 billion Malaysianringgit of gross development value, The(Malaysia) Star reported.The company plans to launch the project in 2016. The 4.8-hectare plan is expectedto include grade A offices, luxury retail properties, five-star hotels and servicedresidences.

* STR said in its March pipelinereport that there were 592,299 rooms in 2,558 projects under contract in the AsiaPacific region, up 8.7% year over year. The report also recorded 257,357 rooms in1,022 projects in construction, up 1.6% in the same month compared with the year-agoperiod.


* Evergrande Real Estate Group Ltd.'s debt-funded acquisitionsin 2015 has alarmed some analysts, but its growth has become "so large thatit may be too big to fail," Bloomberg News reported,citing a report from Singapore-based CreditSights.

Someof the Chinese developer's prominent acquisitions in the previous year include theHK$12.50 billion purchaseof the Mass Mutual Tower in Hong Kong and HK$3.89 billion of in Shengjing Bank Co. Ltd.

* Goodman Group plans to increase its Chinese property portfolioto twice its current size over the next three years, The Australian reported.The company's logistic properties in China operate under the Goodman China LogisticsPartnership, its joint venture with Canadian Pension Plan Investment Board. Goodman'sportfolio expansion plan follows a US$1.25 billion equity commitment between it and Canadian Pension Plan inDecember 2015.

* Global Logistic Properties Ltd. said it secured four leasedeals for 153,000 square meters of logistics space in China. The clients are third-partylogistics companies in the country, including a subsidiary of Sinotrans.

* Shui On Land Ltd. said several of its subsidiaries agreedto sell their entire interest in Fo Shan Yuan Kang Property Development Co. Ltd.for around 1.73 billion Chinese yuan to a unit of Country Garden Holdings Co. Ltd.

Fo ShanYuan owns land with total salable gross floor area of 231,500 square meters in FoshanCity, Guangdong province.

* The National Equities Exchangeand Quotations System in China approved the proposed quotation of the shares of Sino-Ocean Land Holdings Ltd. subsidiary Ocean Homeplus PropertyService Corp. Ltd., according to a release.

* Swire Properties Ltd. sold all 40 units at its Alassio projectin Hong Kong "within two hours" on April 13, after the company received241 subscriptions for the luxury residential project, The (Hong Kong) Standard reported.

* London's Financial Times listedreal estate as one of the five things to monitor closely in China's upcoming first-quarterreport on its gross domestic product and other economic indicators.

* Accordingto Xinhua News Agency, China's commercial housing available for sale increased to739.31 million square meters at the end of February.


* Scentre Group and Grocon Pty. Ltd. established a partnershipfor a bid on the A$1 billion,5.2-hectare Central Barangaroo in Sydney, providing new competition for and , The Australian reported.

* Thai developer acquired a 50% stake in a A$200million residential project near Geelong, Victoria, the AFR reported.The property consists of a 900-lot residential estate.

* Sentinel Property Group is indue diligence for the acquisition of the A$70 million Brand Smart Premium OutletCentre in Melbourne from an unnamed private investor, the AFR reported.


* Frasers Centrepoint Ltd.'s FCL Treasury Pte. Ltd. proposedthe issuance of S$250 million 4.25% fixed-rate notes due 2026 as the sixth seriesof securities underthe group's S$3.0 billion multicurrencydebt issuance program. Oversea-Chinese Banking Corp. Ltd. is the sole lead managerand book runner for the series 6 notes.


* Relaxed policies for in thecountry are expected to double private equity investments in retail properties to$80 million in 2016, the Press Trust of India reported,citing JLL India.


* Home sales nationwide dropped30.4% in March year over year amid indicative signs of a property market slump,with the number of housing deals reaching 77,853 in the month, The Korea Herald reported, citingMinistry of Land, Infrastructure and Transport data.

Now featured

: The April 15 editionof the Asia-Pacific property news recap also features Sun Hung Kai Properties' increasedpresence in Australia and The Crest Collection of CapitaLand's The Ascott Ltd. withone property to debut in Bangkok.

The Daily Dose Asia-Pacific, RealEstate edition is updated by 6:30 a.m. Hong Kong time. Some external links may requirea subscription. Articles and links are correct as of publication time.