* Hong Kong-listed property developer Sunac China Holdings Ltd.'s Hainan Sunac Chang Sheng Estates subsidiary is buying two Hainan, China-based units of HNA Infrastructure Investment Group Co. Ltd. for an estimated 1.13 billion yuan and 797 million yuan, respectively, the South China Morning Post reported, citing a filing on the Shanghai stock exchange.
The vendor, a subsidiary of Chinese conglomerate HNA Group Co. Ltd., is expecting to gain more than 437 million yuan from the planned 1.93 billion-yuan divestment, Reuters reported separately.
* In continuation of its asset-divestment spree, HNA Group is mulling a full or partial sale of its 25% stake, worth US$1.2 billion, in Hilton Worldwide Holdings Inc.'s timeshare spinoff, Hilton Grand Vacations Inc., The Wall Street Journal reported, citing people with knowledge of the matter.
The news comes on the back of the recent completion of an HNA Tourism Group Co. Ltd. affiliate's sale of its entire roughly US$1.38 billion shareholding in another Hilton Worldwide spinoff, Park Hotels & Resorts Inc.
* Wheelock and Co. Ltd.'s core profit for full financial year 2017 decreased 64% year over year to approximately HK$1.11 billion from roughly HK$3.09 billion. However, the Hong Kong-based developer's core profit grew 2% year over year when combined with the results from its three listed subsidiaries Wharf (Holdings) Ltd., Wharf Real Estate Investment Co. Ltd. and Wheelock Properties (Singapore) Ltd.
Hong Kong and China
* Polytec Asset Holdings Ltd. is anticipating a "significant increase" in its profit for full year 2017 in comparison with figures logged in the year-ago period. The optimistic outlook is mainly attributed to the income delivered by one of the company's projects in Macau, according to a filing.
* Meanwhile, Polytec's expectation of profit growth contributed to positive projections for the profit of its controlling shareholder, Kowloon Development Co. Ltd. In a filing, Kowloon Development said a significant year-over-year increase is also expected from its full-year 2017 profit.
* Kai Yuan Holdings Ltd. updated its profit alert for the year ended Dec. 31, 2017, saying that a further review of its accounts showed that the company is now expecting to record profit instead of loss due to a one-off income tax credit for the reporting year.
* Myhome Real Estate Development Group Co. Ltd., together with a subsidiary, is selling for 2.96 billion yuan an indirectly held subsidiary focused on property development, Reuters reported.
* The contracted sales of Central China Real Estate Ltd. and Shenzhen Investment Ltd. decreased year over year in February by 19.8% to nearly 1.37 billion yuan and by 92.8% to 395 million yuan, respectively.
* Diversified developer China Resources Land Ltd. wrapped up its issuance of 6.00 billion yuan in 5.38% notes due March 8, 2021, which represents the first tranche of notes issued under the company's 20 billion-yuan bond shelf that was established in 2016.
Australia and New Zealand
* Centuria Capital Group confirmed that it is holding regular talks with its substantial stakeholder, the Warburg Pincus LLC-backed e-Shang Redwood, in repsonse to a media report that said the two are planning to take over listed developer Propertylink, which counts both Centuria Capital and ESR as shareholders. In 2017, Centuria Capital acted in concert with its Centuria Industrial REIT subsidiary and made an unsuccessful play for Propertylink.
* Thailand-based Minor Hotels Group is planning to launch its AVANI Hotel brand in Melbourne via the A$500 million AVANT building at 60 A'Beckett St. in Melbourne, which is being constructed by Singapore-listed developer World Class Global Ltd., The Australian Financial Review reported, noting that the soon-to-be-completed 55-story development gained planning approval in July 2015 on the grounds that it will be used for residential purposes.
* New Zealand-based commercial property owner Investore Property Ltd. set 4.40% as the indicative minimum interest rate for its planned issuance of up to NZ$75 million in secured fixed-rate six-year bonds.
* Funds management giant BlackRock is marketing a two-building office campus in Perth with a A$125 million price tag, the AFR reported.
Southeast Asia
* The three biggest property agencies in Singapore — PropNex Realty, ERA Realty and Huttons Asia — are teaming up to launch the SoReal online platform for real estate agents and buyers. The (Singapore) Business Times reported that the trio's goal for the platform is to help consumers face the challenges that existing property portals pose.
* Industrial-focused developer ESR-REIT kicked off its planned nonrenounceable preferential offering of up to about 262.8 million new units in a bid to raise up to S$141.9 million in gross proceeds for debt repayment and property acquisition.
* Moody's Investors Service affirmed its Ba3 corporate family rating for PT Bumi Serpong Damai Tbk., while also revising its outlook for the Indonesian developer to positive from stable.
Japan
* Daiwa House REIT Investment Corp. is seeking approximately ¥51.61 billion of net proceeds from its planned issuance of 222,000 investment units priced at ¥239,806 apiece.
India
* DB Realty Ltd. is in advanced discussions with fellow Indian developer Rustomjee Group for the joint development of a roughly seven-acre residential project in Mumbai's Prabhadevi locality, The Economic Times of India reported, citing two persons familiar with the development. The project has a revenue potential of 50.00 billion Indian rupees.
Rollen Catorce contributed to this report.
As of March 12, US$1 was equivalent to 6.33 yuan, 64.99 Indian rupees, NZ$1.37 and S$1.31.
