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China reprimands China Overseas, China Evergrande; China Fortune to spend US$20B on Egyptian project


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China reprimands China Overseas, China Evergrande; China Fortune to spend US$20B on Egyptian project

* The Ministry of Housing& Urban-Rural Development in China said that "illegal sales andmalicious speculation" were involved in China Overseas Land & Investment Ltd.'s InternationalCommunity project and ChinaEvergrande Group's Yufeng and Binhe Left Bank projects in Jinan,causing panic-buying and a "seriously disrupted order" in the market,the South China Morning Post reported,citing a statement from the ministry's website.

* China Fortune LandDevelopment Co. Ltd. agreed to spend US$20 billion for the development andmanagement of 14,000 acres of land in Egypt's new administrative capital,Reuters reported,citing a statement by the Egyptian cabinet.


* Link Real Estate Investment Trust's strategy inexecuting asset improvements at its Hong Kong malls includes planning ahead andgauging prospects, The (Hong Kong) Standard reported,citing Keith Ng Man-keung, head of capital markets at the company.

* China Evergrande said GuangzhouKailong Real Estate Co. Ltd. will become the controlling shareholder of ShenzhenSpecial Economic Zone Real Estate & Properties (Group) Co. Ltd. Pursuant toa proposed reorganization deal, Guangzhou Kailong will sell the entire equityinterest of Hengda Real Estate Group Co. Ltd. to Shenzhen Special in exchangefor the latter's issuance of A shares and/or the payment of cash consideration.

ChinaEvergrande also applied for a trading resumption of its shares and debtsecurities in Hong Kong on Oct. 4 from 9 a.m., local time, after being haltedat the company's request on the previous day.

* and its subsidiaries recorded about 8.55 billion Chinese yuan of contractedsales for September, representing 516,100 square meters of gross floor area.

* Real estate deals inSeptember reached 14,878 properties in Taipei, New Taipei City, Taoyuan,Taichung, Tainan and Kaohsiung, TaipeiTimes reported.The figure was down 4.2% from August, amid tax increase concerns dampeningbuyers' interest.


* saidit substantially completed its takeover of GPT Metro Office Fund. Growthpoint plans to complete thecompulsory acquisition of the balance by early November, as around 95.5% of GPTunit holders have accepted the offer.

* Corelogic Hedonic Home ValueIndex showed that in September, home prices in Canberra increased 2.4%, whilethose in Melbourne and Sydney rose 2.3% and 0.8%, respectively, The Australian Financial Review reported.


* said thatStarhill Global REIT MTN Pte. Ltd. issued S$70.0 million of 3.14% notes due2026, pursuant to a S$2.00 billion multicurrency medium-term note program.DBS Bank Ltd. is thedealer of the series 004 notes.

* Preliminary data from theUrban Redevelopment Authority showed that in the third quarter, home pricesdropped 1.5% quarter on quarter, Bloomberg News reported.The figure represented the biggest drop since June 2009.


* Daiwa House Industry Co. Ltd.seeks to nearly quadruple the size of its rental factories at the Long DucIndustrial Park near Ho Chi Minh City in Vietnam by March 2019, the Nikkei Asian Review reported.The Japanese company plans the expansion ahead of incoming demand from smalland medium-sized business that plan to enter Vietnam.

* 's Ayala Land Premierplans to build the Park Central Towers on a 15,860-square-meter land parcel inMakati, Philippines, Manila Bulletin reported.The residential project is expected to be completed in 2024.


* CBRE said home sales inseven major cities dropped between 1% and 2% in the first half, while overallsupply rose 10% compared to the second half of 2015, 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 linksmay require a subscription. Articles and links are correct as of publicationtime.

Abdul Rehman Maqboolcontributed to this report.