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China Vanke FY'16 profit rises; Kaisa set for comeback; HK$1.5B RE fund created

* China Vanke Co. Ltd. reported a 16.02% increase in net profit attributable to its equity shareholders for 2016, amounting to 21.02 billion Chinese yuan from approximately 18.12 billion yuan year over year. EPS also rose to 1.90 yuan from 1.64 yuan, up 16.03% year over year.

* Kaisa Group Holdings Ltd.'s shares will resume trading on the Hong Kong bourse March 27 at 9 a.m., local time, following the company's fulfillment of conditions for the trading resumption, according to a filing. The company's shares have been suspended since March 31, 2015.

* Silk Road Integrated Real Estate Fund GP Ltd., a joint venture between Greenland Hong Kong Holdings Ltd. and Kuwait Strategic Investor, agreed to create a new real estate fund that will mainly invest in prime properties in major cities worldwide, including regions covered by China's One Belt One Road initiative. Greenland and its partner have committed to invest HK$750 million to HK$1.5 billion in the fund.

South Korea

* Hotel Lotte Inc.'s IPO might be revived in 2019, The Wall Street Journal reported, citing Lotte Group Chairman Dong-bin Shin. The executive also told the paper that the conglomerate will split at least four of its affiliates into operating and holding companies.

Hong Kong and China

* Beijing-backed Carrie Lam Cheng Yuet-ngor succeeded Leung Chun-ying to become the chief executive of Hong Kong.

Link Real Estate Investment Trust said in a statement that it expects "more pragmatic and sustainable measures under the new administration" in relation to future town planning and development.

* Moody's said Cheung Kong Property Holdings Ltd.'s strong earnings results for 2016 support the company's A2 issuer rating and stable outlook. The rating agency also said CK Hutchison Holdings Ltd.'s financial results for the same year broadly aligned with its A3 issuer rating and stable outlook.

* China Resources Land Ltd.'s financial results for 2016 do not have an immediate impact to its Moody's Baa1 issuer or senior unsecured ratings or stable outlook. Moody's added that the results were in line with expectations.

* Sun Hung Kai Properties Ltd. sold all of the 312 units on sale at its Cullinan West development and bumped up the price of the next project release by 9%, according to the South China Morning Post.


* Lendlease Corp. Ltd. plans to hire British architects Foster + Partners to design its A$1.5 billion Circular Quay Tower project in Sydney, The Australian reported.

Mitsubishi Estate Co. Ltd., Ping An's property arm and Lendlease have respective 50%, 30% and 20% stakes in the city's would-be tallest structure, according to the publication.

* Mirvac Group sold 54 of the 60 affordable units at its Pavilions residential project in Sydney over the March 25 weekend, The Australian Financial Review reported.

* DEXUS Property Group plans to develop two industrial properties in Laverton North, Melbourne, for Isuzu Australia and Anmar Group, The Australian reported. Isuzu will occupy 21,685 square meters, while Anmar will get a 15,720-square-meter facility.

* Property consultant Charter Keck Cramer believes that the government's potential withdrawal of stamp duty for first-time, off-the-plan apartment purchases in Melbourne from July 1 will reduce affordable housing supply in inner-city areas, the AFR reported.


* A ¥30 billion area redevelopment project will kick off with the construction of a mixed-use building with 600 new homes near the Omiya Station in Omiya-ku, Saitama, for completion in 2021, Tokyo's The Nikkei reported.


* Lendlease's first phase of sales that opened March 25 at its first residential project in Singapore, Park Place Residences, drew interest, with buyers snapping up 215 apartments at the 429-unit project, The (Singapore) Business Times reported.


* Shriram Properties plans to develop approximately 30 property projects in six major cities by investing 150.00 billion Indian rupees over the next seven to eight years, the Press Trust of India reported.

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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, Jaekwon Lim and Spencer Sheehan contributed to this report.