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China Merchants files for REIT IPO; Aeon Mall REIT closes ¥18B property buy

* China Merchants Land Ltd.'s Fair Winner Enterprises Ltd. subsidiary applied with the Securities and Futures Commission of Hong Kong to list China Merchants Commercial Real Estate Investment Trust. The proposed IPO will pave the way for the inclusion of REIT management into the business operations of the Hong Kong-based property group.

* Aeon REIT Investment Corp. completed its ¥18.04 billion acquisition of the Aeon Mall Fukutsu retail property in Japan's Fukuoka Prefecture from an unnamed vendor. The property company agreed to purchase the property in August along with the Aeon Mall Tamadaira Woods in Tokyo, which it will buy for nearly ¥9.67 billion on Feb. 3, 2020.

Hong Kong and China

* Country Garden Holdings Co. Ltd.'s attributable contracted sales for August grew 49.47% year over year to about 46.83 billion yuan. The contracted sales of China Evergrande Group for the period rose by roughly 18.2% to 47.82 billion yuan, while those of China Vanke Co. Ltd. rose to 44.13 billion yuan from 38.34 billion yuan in the prior-year period.

* Since its property transactions update for July, China Vanke also bought various levels of interests in 28 new projects across China for an aggregate attributable land premium of approximately 31.55 billion yuan.

* Meanwhile, the respective contracted sales of Future Land Development Holdings Ltd., Shimao Property Holdings Ltd. and Beijing Capital Land Ltd. in the first eight months of 2019 increased year over year by 24.84% to nearly 171.47 billion yuan, by 41% to 141.90 billion yuan and by 19.3% to 47.53 billion yuan.

* Sun Hung Kai Properties Ltd. is expected to launch the sale of its Cullinan West III development atop the Nam Cheong MTR Station in September after securing the occupation permit for the project, The Standard reported. The development will offer 1,172 flats with sizes between 267 square feet and 2,171 square feet.

* Property transactions in Hong Kong decreased by 22.9% year over year in August to 5,159 units, The Standard reported, citing Land Registry data. The report added that Jones Lang LaSalle expects up to 16,000 apartments to be marketed in the city before 2020.

Singapore

* JLL and Cushman & Wakefield launched the sale of five retail and office strata lots within the Chevron House commercial building at 30 Raffles Place, The Business Times reported. The publication estimates the divestment's guide price at between S$461.7 million and S$507.9 million.

* Occupancy rates in hotels across Singapore reached 93.8% in July, up from 92.5% in the prior-year period, Reuters reported, citing recently released figures from the city-state's tourism board. The occupancy level in July marks the highest in over a decade.

Philippines

* Ayala Land Inc. confirmed that it will offer 5 billion pesos worth of fixed-rate retail bonds from Sept. 12 to Sept. 18. The Filipino developer noted that the bonds are expected to be listed on the Philippine Dealing and Exchange Corp. on Sept. 27, subject to regulatory approval.

Japan

* LaSalle Logiport REIT closed its ¥2.50 billion purchase of a 60% stake in the Logiport Sakai Chikko Shinmachi property in Osaka from BTS5 Real Estate Hanbai GK.

India

* A partnership between e-Shang Redwood Ltd. and Future Group is investing 3 billion rupees for the development of logistics parks in the cities of Nagpur and Gurugram, Mint reported, citing a joint statement from the companies. The projects will collectively span 75 acres and will have development potential for approximately 1.3 million square feet.

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.