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Sun Hung Kai wins priciest Hong Kong plot; JD.com injects US$306M to RE platform

* Listed diversified developer Sun Hung Kai Properties Ltd., through its Super Great Ltd. subsidiary, won the 50-year land grant to a roughly 16,556-square-meter nonindustrial site in the Kai Tak area of Kowloon, Hong Kong, after it placed an estimated HK$25.16 billion bid. The developer outbid four other parties that include subsidiaries of CK Asset Holdings Ltd. and Henderson Land Development Co. Ltd.

The South China Morning Post reported that the winning tenderer could invest approximately HK$40 billion for the development of New Kowloon Inland Lot No. 6568, the most expensive land parcel in Hong Kong based on data from the city's Lands Department.

* A subsidiary of Chinese e-commerce giant JD.com Inc. invested US$306 million in ESR Cayman Ltd., which was co-founded by Warburg Pincus LLC. Through the capital injection, the pair aims to extend their cooperation in China and other key Asian markets.

The Singapore-listed ESR Cayman is a pure-play, pan-Asia logistics real estate platform that lists Goldman Sachs Group Inc. and Canada Pension Plan Investment Board as among its backers.

Philippines

* DM Wenceslao and Associates Inc. is seeking up to 15.5 billion Philippine pesos from a Securities and Exchange Commission-approved IPO on the local bourse, The Manila Times reported, citing a submitted registration statement. The integrated construction and real estate company's offering will comprise an issuance of as much as 679.2 million shares priced at 22.90 pesos apiece, with an overallotment option for 101.87 million more shares.

* Filipino developer Ayala Land Inc. is forming a 51/49 joint venture with a partnership between Green Square Properties Corp. and Green Circle Properties and Resources Inc. for a mixed-use project that will sit on 27,852 hectares of land across the municipalities of Dingalan, Aurora and General Nakar in Quezon province.

* Vista Land & Lifescapes Inc. confirmed a media report that it is planning to transform 23 of its existing projects into larger integrated developments that it labeled as "communicities." The listed developer earmarked between 45 billion pesos and 50 billion pesos for its 2018 capital expenditures and intends to issue bonds within the third quarter of 2018 to serve this objective.

Australia

* Cbus Property is buying the sites at 73-79 and 81-85 Pirie St. in Adelaide through an off-market deal from local residential developer Adelaide Development Co., the AFR reported. The site carries an approval for a 21-level office tower that could be worth an estimated A$275 million upon completion.

* A A$100 million office development featuring 20,000 square meters of space is planned for an airfield site in Melbourne's Essendon Fields suburb, according to the AFR. The planned three-building development will join yet-to-open car dealerships for BMW, Mini, Jaguar and Land Rover.

* Deloitte is seeking between 30,000 square meters and 35,000 square meters of office space in Sydney's central business district, the AFR reported.

The accounting and advisory company is currently a tenant of the Grosvenor Place at 225 George St., which is co-owned by Dexus, Investa Office Fund and ARIA. Deloitte could opt to stay there, but a transfer to AMP Capital's A$2.7 billion Quay Quarter Tower, to Lendlease Corp. Ltd.'s Circular Quay Tower or to Investa and Brookfield Property Partners LP's building at 388 George St. is also a possibility.

* Queensland superannuation fund QSuper is believed to have struck a deal with Charter Hall Group to lease 18,000 square meters of space in Brisbane Square, the AFR reported. Suncorp Group Ltd., which is also on the hunt for a new headquarter, is occupying the space considered in the reported deal until 2021.

Singapore

* The respective managers of ESR-REIT and Viva Industrial Trust have again agreed to re-extend the exclusivity period for discussions relating to the planned merger of the listed real estate companies. An entity owning a roughly S$3.0 billion portfolio is expected to arise from the proposed merger.

* City Developments Ltd., as cited by The (Singapore) Business Times, said foreigners and permanent residents accounted for 72% of the buyers in its two-tower New Futura residential development on Leonie Hill Road in prime District 9. City Developments launched the scheme's second phase over the weekend and 21 of the 30 units it offered were sold at an average selling price of S$3,500 per square foot.

* Owners of the 18-maisonette-unit Fernhill Court condominium development will kick off the public tender May 16 for the property's collective sale. The estate along Nassim Road has a S$125 million price tag, reflecting a land rate of S$1,885 per square foot per plot ratio.

India

*An office-focused investment vehicle established by Indiabulls Real Estate Ltd.'s sister company is reportedly purchasing the Phoenix Trivium office complex in Hyderabad for approximately 4.70 billion rupees. The property under construction by Phoenix Group includes 1 million square feet of developable space.

Japan

* Commercial real estate investment in Japan during the first quarter of 2018 grew 14% year over year to ¥1.465 trillion, Tokyo's Jiji Press reported, citing a JLL study. For the full year 2018, the real estate services provider estimated that investment will make a year-on-year climb of between 5% and 10% to between ¥4.3 trillion and ¥4.5 trillion.

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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. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Rollen Catorce and John Chan contributed to this report.

As of May 15, US$1 was equivalent to 68.27 Indian rupees, 52.60 Philippine pesos and S$1.34.