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Dasin Retail to debut on SGX; Beijing Capital to issue US$400M of bonds


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Dasin Retail to debut on SGX; Beijing Capital to issue US$400M of bonds

* Dasin Retail Trust expects to list and quote 549,606,331 units on the Singaporean bourse on Jan. 20 at 2 p.m., local time. The company priced its IPO of 151,768,900 units at 80 Singaporean cents apiece, according to a separate filing.

* Beijing Capital Land Ltd. plans to issue US$400 million of bonds under its US$1.00 billion medium-term note and perpetual securities program. The company applied to the Hong Kong stock exchange for the listing of and permission to deal in the notes, which is expected to be effective on or about Jan. 26.


* Despite staunch opposition from locals, the Queensland government approved Australian SN International Development Group's The Lakes project in a koala reserve area at Carbrook between Brisbane and the Gold Coast, The Australian reported. The A$750 million resort project will have 1,500 units.

The state government was left with no choice but to approve the project as the Logan City Council approved the plan and under existing law, the state government should submit to the local council's decision, according to the report that cited a spokeswoman for Queensland Deputy Premier and Planning Minister Jackie Trad.

* LaSalle Investment Management acquired the Post Office Square in Brisbane from a group of investors led by Marquette Properties for approximately A$95 million, The Australian Financial Review reported. The global investment manager purchased the retail center as it expects a rebound in Brisbane's retail property market.

* Also in Brisbane, the outlook for the city's apartment sector appears to be grim as foreign investors cut spending and lending standards become stricter, The Australian reported.

Hong Kong and China

* Cheung Kong Property Holdings Ltd. plans to sell more than 5,000 flats in Hong Kong, China and Singapore for 2017, the South China Morning Post reported. The company will work toward this goal by launching six new projects in Hong Kong that will put over 2,000 units on the market.


* Mitsui Fudosan Co. Ltd. plans to build a new hotel in Ueijimachi, Kanazawa City, starting this summer for a 2019 opening, Tokyo's The Nikkei reported.

Southeast Asia

* Ascendas Real Estate Investment Trust said that S$48.0 million of exchangeable collateralized securities have been exchanged and cancelled, pursuant to its offer to exchange S$300.0 million of the 1.60% securities due 2019 issued by Ruby Assets Pte. Ltd.

* Singapore's slumping housing market may benefit from Hong Kong's stamp duty for foreign property buyers, as the new policy has led investors to consider acquiring homes in the city-state instead, Bloomberg News reported, citing Cushman & Wakefield Inc.

* Megaworld Corp.'s board approved the company's debt program to issue up to 30.0 billion Philippine pesos of bonds. The first-tranche issuance will consist of 8.0 billion pesos of notes with an oversubscription option of up to 4.0 billion pesos.


* Country Garden Holdings Co. Ltd. is going against a broader trend among Chinese developers as to where it is expanding overseas. The developer said it plans to buy at least one residential land parcel in India by 2017-end, the South China Morning Post reported. The publication noted that most property companies in the mainland look into pursuing investment opportunities in Australia, the U.S. and the U.K.

Apple Daily also reported on the plan.

* Demand for office space in Hyderabad outpaced supply in 2016 with roughly 5.6 million square feet of space being taken up in the city during the year, up 37% year over year, The Economic Times of India reported, citing Colliers International.

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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, John Chan and Julie Zhu contributed to this report.