* Australia's Takeovers Panelallowed Morgan Stanley to vote its 8.9% stake in Investa Office Fund's April 15 meeting to decide on the merger, echoinga court ruling from theSupreme Court of New South Wales. It cited insufficient basis to "interfere"with Morgan Stanley's voting rights attached to units in the fund.
However, the panel noted that the platform manager, InvestaOffice Management Holdings Pty. Ltd., failed to disclose complete details over adocument that it publishedrelated to the takeover bid, and thus made a declaration of unacceptable circumstances.
DEXUS CEO Darren Steinberg and IOF Chairman Deborah Pagewere reportedby The Australian Financial Review assaying that they welcome the panel's declaration.
* The decision of the Singapore-based Kum family to cancel a of M&L Hospitality'sportfolio of hotels indicated the former's belief of a continually thriving hospitalitysectors in Australia and New Zealand, TheAustralian reported.The company was previously tipped to have drawn a short list of for the portfolio sale.
* China Resources Land Ltd.said it received approval for the registrationof medium-term notes worth not more than 20 billion Chinese yuan at the NationalAssociation of Financial Market Institutional Investors.
* The company alsosaid that it and its subsidiaries'contracted sales in March was approximately 8.60 billion yuan, which correspondedto around 718,300 square meters of contracted gross floor area.
* Dalian Wanda Commercial PropertiesCo. Ltd. and its subsidiaries' contracted sales for the first quarteramounted to around 15.3 billion yuan, representing a contracted sales area of approximately1,740,000 square meters.
AUSTRALIAAND NEW ZEALAND
* Chinese investors emerged as the biggest spenders in Australian propertiesfor the year ended June 30, 2015, as they gained approval to invest A$24 billionin real estate, compared with A$12 billion in the year-ago period, The Wall Street Journal reported,citing the Australian Foreign Investment Review Board.
* Star Entertainment Group Ltd. is advancing toward groundbreaking on theA$850 million Jupiters Casinoredevelopment in Queensland, The Australianreported.
HONG KONGAND CHINA
* China Vanke Co. Ltd.'slargest shareholders,Shenzhen Jushenghua Co. Ltd. and Foresea Life Insurance Co. Ltd., informed the Chineseproperty developer about a deal for the transfer of voting rights attached to Ashares in the company.
Shenzhen Jushenghua agreed to transfer its directly heldvoting rights attached to 926,070,472 A shares in China Vanke to Foresea Life Insurance.Shenzhen Jushenghua will also transfer a total of 547,326,746 A shares that it controlsthrough several asset management plans.
* Dalian Wanda Commercial scheduled an annual general meeting on May 25 toseek approval for several resolutions, including the distribution of final dividendsfor 2015 and the issuance of new H shares in Hong Kong or domestic shares in China.
* Cheung Kong Property HoldingsLtd. also plans to convene an annual general meeting on May 13 for proposedresolutions such as the declaration of a final dividend for 2015 and the electionof directors.
* MTR Corp. Ltd.appointed Jacob Kam to serve as managing director — operations and mainland business,effective May 1. Adi Lau will replace Kam in his role as operations director, effectivethe same day. The company also appointed Margaret Cheng as human resources directorand a member of the executive directorate, effective June 1.
* Sun Hung Kai Properties Ltd.sold at least 80 flats at its OceanWings project in Hong Kong out of the 98 that were put on sale on April10, The (Hong Kong) Standard reported.The company has sold over 300 units since the beginning of April, according to SunHung Kai Properties Deputy Managing Director Victor Lui Ting.
* Greentown China Holdings Ltd.said it entered into aUS$300.0 million term loan deal with an undisclosed financial institution.
* City Developments Ltd.'snominating committee recommended the appointment of Chief Investment Officer to serve asdeputyCEO. The committee also nominated the appointment of Yiong Yim Ming as the company'sCFO.
* In relation to an application for an advanced tax ruling, said in a filing that the InlandRevenue Authority of Singapore confirmed that the REIT's S$150.0 million 4.980%subordinated perpetual securities are "debt securities." The securitieswere issued under a S$1.00 billion multicurrency debt issuance program.
* Soilbuild Business Space REITsaid it received an approval in principle from the Singapore Exchange SecuritiesTrading Ltd. for the issuance of S$100.0 million 3.60% fixed-rate notes due 2021.
* Ichigo Office REIT InvestmentCorp. plans to buy five office assets for ¥8.37 billion. The propertiesare the Ichigo Shibuya East Building, Ichigo Ningyocho Building, Ichigo Nishi HonmachiBuilding, Ichigo Hakata Building and Nishiki First Building.
* is issuing another 7 billionPhilippine pesos of bonds under a plan to raise 50 billion pesos via debt securities,The Philippine Star reported.
* SM Foundation saidit reconstructed 14 health centers in the country in 2015, bringing the total numberof renovated facilities to 115 health centers since the foundation's inception.The foundation is the charitable arm of SM Group, which includes
* Godrej Properties Ltd.'sCEO Adi Godrej told Bloomberg News in an interviewthat the company expects the new property bill and the distressed market in thecountry to help the company achieve its best year ever. The CEO notedthat the company has "strong ability" to buy distressed real estate projectsas banks take over projects and promoters lose control of their companies.
The Weekin Asian Real Estate: Ascendas Hospitality cancels sale; Japan to ease hotel buildingrules: The April 8 edition of the weekly news roundup of the Asian realestate space also looks at M&A activity in Australia.
The PropertyLedger: Far East Consortium inks MOU for Australian projects; Nippon Accommodationscloses ¥2.7B acquisition: The April 8 edition of the Asia-Pacific propertynews recap also features two buyers tipped to be in the running for The Zenith,a A$280 million Sydney asset co-owned by DEXUS Property Group.
Best of SNL:Real Estate, editors' picks: Our real estate editors' picks for thebest stories of the week ending April 8.
Best of SNL:Real Estate, most read: The 10 most read real estate articles for theweek ending April 8.
The DailyDose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Someexternal links may require a subscription. Articles and links are correct as ofpublication time.