* China Overseas Land & Investment Ltd. posted a 1.3% year-over-year decline in operating profit for the third quarter to HK$7.42 billion from HK$7.52 billion. For the nine months ended Sept. 30, the property developer reported a year-over-year rise in operating profit to HK$44.03 billion from HK$43.26 billion.
* The bidders for the fourth phase of MTR Corp. Ltd.'s development atop the Wong Chuk Hang Station in Hong Kong dropped to six from 38 interested buyers in September, South China Morning Post reported. Still in the running for the project, which will require an investment of up to HK$11.8 billion, are Sun Hung Kai Properties Ltd.; CK Asset Holdings Ltd.; Henderson Land Development Co. Ltd.; Great Eagle Holdings Ltd.; Kerry Properties Ltd.; and a consortium comprising Wheelock & Co. Ltd., Chinachem Group Co. Ltd. and China Overseas Land.
* Lackluster demand from global investors in the technology sector prompted the cancellation of PropertyGuru Pte. Ltd.'s planned IPO on the Australian stock exchange. The Singapore-based online realtor was aiming to raise up to A$380.2 million from the IPO, which would have given it a market valuation of up to A$1.36 billion.
* Brookfield Asset Management Inc. completed its 39.50 billion-rupee purchase of various hospitality assets from Hotel Leelaventure Ltd., VCCircle reported. The hospitality company, which recently approved a proposal to change its name to HLV Ltd., according to The Economic Times of India, informed stock exchanges that it will use proceeds from the transaction to repay its loans.
* LimeTree Capital bought a portfolio of nine underground carparks in Beijing from Soho China Ltd. for 761 million yuan, Mingtiandi reported. The purchased properties are in nine of Soho's integrated developments in the city and will be operated under LimeTree's We Park brand.
* Ping An Real Estate Co. Ltd. issued 1 billion yuan of 3.30% financing bonds that will mature July 17, 2020, Guandian reported, citing information provided by Shanghai Clearing House.
* Ascott Residence Trust and Ascendas Hospitality Trust said the court hearing for their merger proposal will take place Nov. 19. Through the transaction, the CapitaLand Group member companies are expected to create the largest hospitality trust in Asia-Pacific, with the new entity owning S$7.6 billion worth of assets.
* Exchange 106's developer, Mulia Property Development Sdn. Bhd., said Malaysia's tallest skyscraper will be ready for its first tenants from December, Reuters reported. The 492-meter tower, which forms part of the Tun Razak Exchange financial district in Kuala Lumpur, is expected to house a Fortune 500 global consulting firm, a Hong Kong-based personal care brand, e-commerce platforms, a serviced office brand and a coworking provider.
* Mitsui Fudosan Residential Co. Ltd. and Mitsubishi Estate Residence Co. Ltd. are jointly developing an approximately 40,000-square-meter residential project in Chiba Prefecture's capital, Housing Industry News reported. The residential units that will comprise the development are expected to be sold around the spring of 2022.
Other real estate news
* Singapore-listed Cromwell European REIT spent €80 million to acquire two fully leased office buildings in Krakow, Poland, from Brassa SP, IPE Real Assets reported. As part of the transactions, the real estate investment trust gained ownership of the 22,954-square-meter Green Office property and the 11,341-square-meter Avatar building, both of which will be managed by Cromwell Property Group.
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