* China Vanke Co. Ltd. accused Baoneng Group of allegedly usingillegal fundraising methods to increase its staketo become the top shareholder of the largest Chinese homebuilder, the South China Morning Post reported.
The propertydeveloper detailed its claim in an open letter filed with four Chinese securitiesregulators, including the China Securities Regulatory Commission.
* saidits U.S. unit, Oceanwide Plaza LLC, signed an estimated US$814 million constructiondeal for a mixed-use project in Los Angeles, subject to adjustments. The contractorfor the project is Lend Lease (US) Construction Inc.
The development involves the construction of residential properties,a hotel and shopping centers.
* The Wall Street Journal putsa spotlight on how mainland Chinese developers are increasingly being more activein Hong Kong's public land bidding scene. According to Lands Department data, thesize of land won by mainland developers in the first half of 2016 was up by 6x froma year ago.
The reportsaid that China Overseas Land &Investment Ltd. and China Vanke are some of the companies that are competingwith established developers in Hong Kong like Cheung Kong Property Holdings Ltd., Sun Hung Kai Properties Ltd. and Swire Pacific Ltd.
Commentingon the report, Far East ConsortiumInternational Ltd. Managing Director Chris Hoong believes the presenceof more players is better than a market dominated by a few.
* Chinese Estates Holdings Ltd. expects to post an increasein revenue in between 96% and 106% and record a consolidated net profit attributableto its owners for the first half. In the year-ago period, it posted HK$969 millionof revenue and a HK$115 million consolidated net loss.
Meanwhile,the company's shares rose 16.7% after it disclosed the positive profit alert July19, The (Hong Kong) Standard reported.
AUSTRALIA and NEWZEALAND
* Propertylink further advancedits A$500 million IPOin Australia by starting another global investor road show this week and committingover half of the securities under the IPO for institutional investors, The Australian Financial Review reported.
The companywill provide retail investors with a chance to participate in the offering in theweek of July 24, according to the publication.
* An undisclosed buyer is in duediligence to acquire the building at 28 Freshwater Place in Southbank, Melbourne, for nearly A$300 million. Owners and Frasers Centrepoint Ltd.'s Frasers Property Australia Pty.Ltd. had short-listed five groups for the property, the AFR reported.
On theother hand, Singapore-listed ARA Asset Management is also in due diligence for thepurchase of DEXUS Property Group'sA$600 million Southgatecomplex in the city.
* Charter Hall Group secured Woolworths as a long-term tenantat its 333 George St. commercial development in Sydney, according to a release.
* Roche Pharmaceuticals is in exclusivetalks to take up space at DEXUS Property's The Bond building in Barangaroo, Sydney,with plans to occupy 5,000 square meters of space, The Australian reported.
* Secondary trading in Australianreal estate funds reached A$1 billion year-to-date due to rebalancing by domesticsuperannuation funds, IPE Real Estatereported,citing industry sources.
* The Reserve Bankof New Zealand has begun to curb lending to property investors to suppress a residentialboom in the country, Bloomberg News reported.
HONG KONG and CHINA
* Wharf (Holdings) Ltd. and Nan Fung Group offloaded a houseat the Peak in Hong Kong for HK$630 million, The Standard reported.
The report added that RegalHotels International Holdings Ltd. and Paliburg Holdings Ltd. priced the fourth batch of flats atThe Ascent project, while Sun Hung Kai Properties targets a fourth-quarter launchof St. Moritz in Kau To Shan. Cheung Kong Property will also open sales for the21 Yuccie Square project in Yuen Long on July 25.
* China Logistics Property's plannedIPO in Hong Kong could pave the way for other Chinese logistics companies, amida boom in online shopping and expansion of warehousing properties, the SCMP reported.
* Xinhua News Agency saidthat macroeconomic control measures will likely be used by the government in thesecond half of 2016 to regulate demand and supply in the country's property market.
* Seibu Holdings Inc.unveiled The Prince Gallery Tokyo Kioicho, a 250-room hotel occupying the upperfloors of the 36-story Tokyo Garden Terrace Kioicho in Chiyoda-ku, Tokyo, The Mainichi Shimbun reported. Thenew luxury hotel will open for business July 27.
* East Japan RailwayCo. is accelerating real estate redevelopment along the Yamanote Line, Tokyo's The Nikkei reported.The company opened a new commercial complex at Shinjuku Station last March and announceda 26-story building project in Tokyo's Takeshiba area in July.
* Fitch Ratings affirmed its ratingson three hospitality S-REITs. The rating agency affirmed CDL Hospitality Trusts' BBB- long-term foreign-currency issuerdefault rating, Far East HospitalityTrust's BBB- long-term foreign- and local-currency issuer default ratings,and Parkway Life REIT'sBBB long-term foreign-currency issuer default rating.
The outlookfor all the affirmed ratings is stable.
* Ayala Land Inc.'s Alveo Land Inc. plans to spend 2.5 billionPhilippine pesos for the development of a residential building at the Circuit Makatiestate in Makati City, The Manila Times reported.
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Cam Nones, Jaekwon Lim and SpencerSheehan contributed to this report.