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WHA plans 8B Thai-baht REIT; Sime Darby advances Saizen REIT reverse takeover

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WHA plans 8B Thai-baht REIT; Sime Darby advances Saizen REIT reverse takeover

* WHA Corp. PCL intends to launch an 8.02 billion-Thai-baht REIT in November as the first investment trust under the Hemaraj brand, Reuters reported, citing a company statement. The REIT will have underlying properties in industrial estates of WHA's Hemaraj Land and Development Plc.

Hemaraj Leasehold Real Estate Investment Trust plans to issue 569.4 million trust units to WHA Premium Growth Real Estate Investment Trust's unit holders, with some of the proceeds to be used for debt repayment, according to WHA CEO Jareeporn Jarukornsakul.

* Sime Darby Property Singapore Ltd. moved forward with its planned reverse takeover of Saizen Real Estate Investment Trust by signing an implementation deal. Pursuant to the agreement, Saizen will acquire 20 industrial properties in Australia for A$355.8 million and will issue new units at 3.604 Singapore cents apiece.

The properties comprise 18 assets in Queensland and two properties in the Northern Territory with a total land area of approximately 1 million square meters. Saizen said the agreement requires regulatory and unit holders' approval among other conditions.

AUSTRALIA

* The New South Wales government's Sydney Olympic Park Masterplan 2030 is expected to benefit DEXUS Property Group, GPT Group and Growthpoint Properties Australia, The Australian reported. The plan includes the development of buildings with up to 45 floors at the Sydney Olympic Park. The property developers urged the government to consider improving the region's rail network surrounding the park.

* Investa Office Fund is considering acquiring a half stake in Investa Office Management after it raised A$600 million in new equity for Investa Commercial Property Fund, The Australian Financial Review and The Australian reported.

* A Lendlease Corp. Ltd.-led consortium sold the A$232 million Eastern Goldfields Regional Prison Redevelopment Project in Western Australia to AMP Capital, subject to state government approval, IPE Real Estate reported. The sale price was between A$60 million and A$80 million.

* Abacus Property Group and Investec Australia Property Fund agreed to purchase the 324 Queen St. property in Brisbane for A$132.0 million, excluding transaction costs and subject to FIRB approval. The companies expect to settle the acquisition in December.

HONG KONG AND CHINA

* China Vanke Co. Ltd. said its sales in September reached 25.38 billion Chinese yuan, representing 2,134,000 square meters. The company also acquired interests in five property projects in China for an aggregate land premium of around 4.14 billion yuan.

* Sun Hung Kai Properties Ltd.'s sales at its 12 malls in Hong Kong rose up to 8% during the "golden week," The (Hong Kong) Standard reported, citing Maureen Fung Sau-yim, a Sun Hung Kai Development (China) director.

* China Evergrande Group and its subsidiaries recorded approximately 47.52 billion yuan of contracted sales in September, corresponding to approximately 5,158,000 square meters of contracted sales area.

* Sunac China Holdings Ltd., its subsidiaries and affiliated company posted 13.53 billion yuan of contracted sales in September, up 112% year over year. The sales figure represented approximately 557,000 square meters of contracted sold area.

* Global Logistic Properties Ltd. extended a lease to Walmart in southern China with a new 32,000-square-meter build-to-suit facility.

SOUTHEAST ASIA

* Frasers Centrepoint Ltd. advanced its ASEAN expansion by planning to acquire a 40% stake in Ticon Industrial Connection Pcl for about 13.23 billion Thai baht.

* GuocoLand Ltd. said its Tanjong Pagar Centre project in Singapore gained a temporary occupation permit for the Guoco Tower office building and its basement retail component.

INDIA

* Oberoi Realty Ltd. might consider a REIT listing for its planned establishment of a separate shopping mall business unit, DealStreetAsia reported, citing Oberoi Realty Chairman and Managing Director Vikas Oberoi. The company has one mall in Mumbai that it operates under the Oberoi Mall Ltd. special purpose vehicle.

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. Articles and links are correct as of publication time.

Abdul Rehman Maqbool contributed to this report.