* Swire Properties Ltd.'s parent, Swire Pacific Ltd., offered to privatize its Hong Kong Aircraft Engineering Co. Ltd. subsidiary for nearly HK$3.00 billion. The Hong Kong-based conglomerate will delist Hong Kong Aircraft after its HK$72-per-share purchase of all the shares it does not already own in the aircraft engineering and maintenance service provider.
* Chinese developers' demand for offshore mezzanine loans grew amid China's ongoing deleveraging campaign, Reuters reported, citing local lenders. Stuart Jackson, CEO of Hong Kong-based real estate investment manager InfraRed NF, said the build-up that began in September 2017 has lifted the developers' debt demand from his company to US$800 million, the highest level in seven years.
* On the other hand, Tospur data cited by Xinhua News Agency found that 40 major listed developers in the mainland secured 45.1 billion yuan in total financing in May, down 41.3% from April and the lowest in 12 months. Domestic and offshore bonds issuance, meanwhile, fell 65.5% and 94.8%, respectively.
Philippines
* D.M. Wenceslao and Associates Inc. priced its planned IPO on the Philippine stock exchange at 12 pesos apiece, the bottom of its 12 pesos to 16 pesos per-share indicative price range. The Filipino construction firm and property developer is expected to raise 8.15 billion pesos from the offering.
India
* Unnamed sources cited by Press Trust of India affirmed previous reports that Blackstone Group LP and Embassy Group will likely file in July the draft prospectus for the planned US$1 billion listing of Embassy Office Parks. According to the sources, the Indian realty group is finalizing the portfolio of Embassy Office for the IPO, making it India's first listed real estate investment trust.
* Godrej Properties Ltd. raised 10 billion rupees after it issued 12,765,000 equity shares to an affiliate of Singaporean wealth fund GIC. Each share issued to Gamnat Pte. Ltd. under the preferential offering was priced at 783.50 rupees.
Hong Kong and China
* Swire Properties is expected to gain roughly HK$1.17 billion from its recently completed HK$6.53 billion divestment of a commercial site in Kowloon Bay, Hong Kong, to Lucky Melody Ltd. The transaction was carried out through Swire Properties' sale of its Star Wing International Ltd. subsidiary, which is the registered owner of the now disposed investment property.
* China Aoyuan Property Group Ltd.'s Fine Wisdom Global Ltd. subsidiary agreed to pay HK$950.0 million for the acquisition of a property in Hong Kong's New Territories. Aside from the 99-year leasehold on the land plot, the deal also comes with the 12-story building that stands on the nonresidential site.
* Diversified property developer Henderson Land Development Co. Ltd. recorded HK$1.1 billion from the June 9 sale of 180 flats at its Cetus · Square Mile project in the Mong Kok area of Kowloon, Hong Kong, according to the South China Morning Post.
Also on the same day, K. Wah International Holdings Ltd. sold 240 of the 268 flats it offered at its Solaria development in Tai Po.
* Powerlong Real Estate Holdings Ltd. and Sino-Ocean Group Holding Ltd. respectively saw year-over-year hikes of 78.0% and 40% in their contracted sales in the first five months of 2018 to an estimated 12.13 billion yuan and 30.75 billion yuan.
On the other hand, Greenland Hong Kong Holdings Ltd.'s contracted sales during the same comparable period dipped 16% to nearly 11.37 billion yuan.
* Hong Kong's Lands Department will launch June 15 the public tender for a roughly 3,680-square-meter nonindustrial site in Kowloon. The land parcel has a minimum gross floor area of 19,872 square meters and a maximum gross floor area of 33,120 square meters.
While the asking price for the site was undisclosed, a nonindustrial plot in the area was acquired by Sun Hung Kai Properties Ltd. in May with an estimated HK$25.16 billion bid, making it the most expensive land parcel in the special administrative region.
Singapore
* EL Development Pte. Ltd. tapped French hotelier AccorHotels to manage a 10-story hotel intended for a site along the Hill Street stretch in the city-state, The (Singapore) Business Times reported, citing Lim Yew Soon, managing director of the local property developer. The up-to-350-room hotel planned for the plot that EL Development bought from Singtel for S$118 million is expected to open late-2021 bearing the Pullman brand.
Japan
* Nippon REIT Investment Corp. is planning to buy 21 residential, office and retail properties across Japan from various vendors for a total consideration of ¥40.20 billion. Delivery of the targeted properties is expected July 3.
* Mitsui Fudosan Co. Ltd. is set for the Oct. 26 grand opening of its expanded Mitsui Outlet Park Kisarazu outlet mall in Kisarazu City, Chiba Prefecture, the Nikkei Business Publications (Tokyo) reported.
Australia
* CoreLogic analysts are warning of potential decreases in the prices of properties across Australia's prestigious inner suburbs, The Australian Financial Review reported. The forecast was largely attributed to a slowdown of the real estate market, rising costs and weakening demand.
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