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Macquarie, Credit Suisse buy into Mantra; Stockland sells A$800M project's stake

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Macquarie, Credit Suisse buy into Mantra; Stockland sells A$800M project's stake

* Macquarie Group and Credit Suisse bought an estimated 8 million shares and 9.5 million shares, respectively, in Mantra Group Ltd. at A$3.87 per share, ahead of the completion of the Australian hotel and resort operator's A$1.18 billion merger with French hospitality giant AccorHotels, The Australian Financial Review reported.

Through on-market stake buys, Macquarie and Credit Suisse became substantial shareholders in Mantra, with respective holdings of 5.2% and 8%.

* Diversified developer Stockland tapped Macquarie Capital to assist in marketing a 50% stake in its A$800 million shopping center in the city of Shellharbour in New South Wales, The Australian reported. The redeveloped Stockland Shellharbour retail center is occupied by tenants such as Coles, Woolworths, Myer, Kmart, Target and about 220 specialty stores.

Hong Kong and China

* Minmetals Land Ltd. is projecting a roughly 40% year-over-year hike in its attributable profit for the year ended Dec. 31, 2017.

* Shanghai-based diversified developer Shui On Land Ltd. established a joint venture with Founder Securities Co. Ltd. for the development of a mixed-use scheme in the Qingpu District of its home city. Shui On Land will initially invest roughly 2.4 million yuan into the joint venture and will subsequently contribute up to 1.82 billion yuan to satisfy the estimated maximum capital commitment for the project.

* Sun Hung Kai Properties Ltd. named its 522-unit residential development at 8 King Sau Lane in Tuen Mun, Hong Kong, as Mount Regency, The (Hong Kong) Standard reported.

* Forest City developer Country Garden Holdings Co. Ltd. recorded contracted sales of about 123.84 billion yuan in the first two months of 2018, higher compared with the 87.26 billion yuan it logged for the year-ago period. Year-to-Feb. 28, the company contracted approximately 13.62 million square meters of property, according to a filing.

* Times China Holdings Ltd. completed its planned redemption of all its outstanding 11.450% senior notes due 2020, which were issued March 3, 2015, at an aggregate principal amount of US$280.0 million. The former Times Property Holdings Ltd. said it spent US$312.1 million, including accrued and unpaid interest, for the redemption.

* Property developer Yuzhou Properties Co. Ltd. is seeking permission from The Stock Exchange of Hong Kong Ltd. for the listing of its planned US$375 million issuance of 6.375% senior notes due March 6, 2021.

* Cinda Real Estate Co. Ltd., meanwhile, is planning to issue up to 7.0 billion yuan of debt financing instruments, Reuters reported.

* A 632,923-square-foot site in West Kowloon, Hong Kong, one of the four commercial sites that will be tendered under the government's fiscal 2018-2019 land sale program, could become the most expensive site to ever be sold through government tender in the special administrative region, according to industry experts cited by the South China Morning Post.

The site at the junction of Lin Cheung Road and Austin Road West is estimated to be worth between HK$95 billion and HK$142 billion and can deliver a total gross office area of 3.16 million square feet. The report noted that the land plot has the potential to be developed into a three-tower scheme.

* Sunac China Holdings Ltd. partnered with Nova Property Investment Co. Ltd. to set up a 20 billion-yuan inventory asset acquisition fund, mandated to acquire commercial properties in first- and second-tier cities, Yicai reported. Projects acquired will be managed by the duo and then resold into the market after attaining stabilized operation.

Australia

* Abacus Property Group is selling a 16,000-square-meter mall occupying a 4.4-hectare site in the rural center of Bacchus Marsh in Victoria, with hopes of raking in A$70 million. The AFR reported that The Village Bacchus Marsh shopping center, which has undergone a major refurbishment and repositioning, is home to more than 60 tenants, including Coles, Aldi, Target Country and Anytime Fitness.

* The New South Wales Supreme Court heard that Desane Group Holdings Ltd.'s 5,274-square-meter property at 68-72 Lilyfield Rd. in the Sydney suburb of Rozelle will not be impacted when the third stage of the M4-M5 Link of the WestConnex Motorway is developed, the AFR reported.

Desane's court battle with the state government continues, as the company attempts to prevent the government from compulsorily acquiring its property for the Sydney Motorway Corp. Pty. Ltd. and the Roads & Maritime Services. According to the publication, the Rozelle site could be redeveloped into an apartment project with a development value of between A$100 million and A$200 million.

* Sydney-based property platform Cerno put on the block the AsheMorgan-backed Hurstville Central Shopping Centre in Sydney for about A$130 million. According to the AFR, the Coles-anchored mall, along with an adjoining Gateway site, span 15,211 square meters.

Southeast Asia

* Condominium-focused Filipino developer Torre Lorenzo Development Corp. is mulling going public between 2020 and 2023 to raise capital for its expansion initiatives, CFO Emmanuel Rapadas said, noting that factors such as readiness and market condition are being considered by the Philippine-based developer before it pursues the plan.

* Ticon Industrial Connection Pcl is expecting annual growth of at least 15% in its revenue for the three years to 2020, Reuters reported. The industrial-focused Thai developer also disclosed plans to develop a 240-hectare site in Thailand's Eastern Economic Corridor.

Japan

* Nomura Real Estate Holdings Inc. is planning a public offering of hybrid bonds in two series. The first series of the bonds, which will carry a 1.30% initial annual interest rate and maturity of March 13, 2058, will be issued at an aggregate principal amount of ¥30 billion, while the second series of 1.48% bonds due March 12, 2060, will amount to ¥20 billion.

* Seibu Railway Co. Ltd.'s rental housing brand Emillive saw the completion of its fifth property, Jutaku-Shimpo-Sha reported. The 10-story, 70-unit project is near Saginomiya Station in Tokyo and will be managed by Seibu Properties Inc.

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.

Rollen Catorce, Emily Lai and Jaekwon Lim contributed to this report.

As of March 6, US$1 was equivalent to 6.31 yuan and ¥105.94.