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China Jinmao to issue 16B yuan of bonds; CK Hutchison adds 2 to board

* China Jinmao Holdings Group Ltd. gained the approval of the National Association of Financial Market Institutional Investors in China for the company's registration and issuance of bonds worth not more than 16.00 billion Chinese yuan. The company will issue the unsecured medium-term notes in two tranches.

* CK Hutchison Holdings Ltd. appointed Edith Shih to serve as an executive director and Susan Chow Woo Mo Fong as a nonexecutive director, effective Jan. 1, 2017, according to a filing.


* GPT Group's GPT Wholesale Office Fund increased its interest in the One One One Eagle Street property in Brisbane by purchasing an additional stake for A$284.2 million, The Australian Financial Review reported. The unlisted fund acquired the stake from the Abu Dhabi Investment Authority.

* Mapletree Logistics Trust completed the A$142.2 million acquisition of four properties in Victoria from Growthpoint Properties Australia Ltd. The properties span a total gross floor area of approximately 103,517 square meters on a combined land area of 362,230 square meters.

* Nearly quadruple growth in property loans in the country is said to be driven by the upswing in demand for residential and commercial assets in Australia in 2016 from the year-ago period. The increase is also attracting Asian banks to lend money to local property developers, Bloomberg News reported. So far in 2016, US$3.37 billion of real estate loans have been granted for construction, development and acquisitions.

* In 2016, self-managed superannuation funds in the country showed increased interest in residential and commercial real estate, with the proportion of funds owning residential assets increasing to 22% from 19% year over year, the AFR reported, citing a Financial Services Council and UBS Asset Management survey. The proportion owning commercial assets rose to 20% from 18% in the same period.

Hong Kong and China

* The Hong Kong Monetary Authority raised its base rate by 25 basis points to 1% following the anticipated move by the U.S. Federal Reserve to raise the benchmark federal funds rate.

* Swire Pacific Ltd. said Shiu Ian Sai Cheung will retire from his role as an executive director, effective Jan. 1, 2017, according to a filing.

* Moody's assigned a Baa2 rating to the proposed issuance of U.S.-dollar notes by China Vanke Co. Ltd. unit Bestgain Real Estate Lyra Ltd. Fitch Ratings, on the other hand, assigned a BBB+(EXP) expected rating to the bonds.


* Mitsubishi Estate Co. Ltd. will acquire Japan Real Estate Investment Corp.'s Genki Medical Plaza property in Chiyoda-ku, Tokyo, for ¥6.89 billion and will sell a trust beneficiary interest in Shinjuku Eastside Square in Shinjuku-ku, Tokyo, to Japan Real Estate for ¥6.66 billion, according to a filing.

* Mitsubishi Jisho Residence Co. Ltd. is entering the market for microapartments under the ParkOne brand name, targeting entry-level home buyers, Jutaku-Shimpo-Sha reported. The company will launch its first microapartment projects in Chiyoda Sakumacho and Shinagawa Togoshi, both in central Tokyo.


* Urban Redevelopment Authority data showed that property developers sold 860 units in November, down 31% from October, Bloomberg reported. The drop in sales reflected fewer companies marketing their projects to buyers, who normally postpone acquisitions to the new year.

Other news

* CK Hutchison Holdings subsidiary Hutchison Drei Austria launched an over-the-top telecommunication platform service in Austria.

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Data Dispatch Asia-Pacific: Rise in property lending at Chinese banks to continue despite government curbs: "The regulatory moves may slow the pace of mortgage lending, but overall, it will continue to rise," an expert told S&P Global Market Intelligence in a look at the exposure of China's four biggest banks to the property market.

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.