* Unibail-Rodamco SE CFO Jaap Tonckens maintained that his company's US$15.68 billion takeover offer for Westfield Corp. is fair, bullishly adding that the target's shareholders will approve the merger.
The statement came in response to analysts' doubts that the scrip-heavy might not be compelling enough for Westfield shareholders and that the value of the bid could even encourage other companies to compete with Unibail-Rodamco for the Australian giant.
* Shui On Land Ltd. received confirmation from its controlling shareholder, Lo Hong Sui, that there are ongoing discussions with banks for the potential privatization of the company. The Hong Kong-listed developer emphasized that no definite plans have been determined as of now.
* China Vanke Co. Ltd. appointed Zhu Jiusheng as its new president and CEO, replacing Yu Liang effective Jan. 31. Yu will remain the company's chairman.
* Certain real estate markets in the Asia-Pacific region, most likely China, Japan and Australia, are expected to attract private equity investments amounting to US$53 billion by 2020, CBRE found. CBRE noted in the study titled "The Next Wave of Capital Development" that the investments would likely start in 2018 and significant purchasing activity is in the forecast for the year.
Australia
* Cache Logistics Trust agreed to buy a nine-warehouse logistics portfolio for A$177.6 million, marking its largest transaction in Australia to date. According to the Singaporean company, the total cost of the proposed acquisition could reach roughly A$191.0 million.
* Union group United Voice is selling the site at 187 Thomas St. in Sydney's Chinatown in Haymarket for more than A$100 million, The Australian Financial Review reported. The site, which could yield another apartment tower, has a permissible gross floor area of 23,275 square meters, according to the report.
* AMP Capital tapped Sydney-based Richard Crookes Constructions to build the 106 apartment units that will comprise the first phase of its A$3 billion Quay Quarter development, the AFR reported.
A one-third stake in the Sydney project is up for grabs for approximately A$1 billion, with local superannuation funds REST Industry Super and ISPT reported to be the remaining contenders for the interest.
* Fairfax Media is on the hunt for a new headquarters in Sydney. According to the AFR, the publisher's search for a new base in the city came after it turned over its lease at Mirvac Group's building at 1 Darling Island Road to Google Inc.
Hong Kong and China
* CapitaLand Ltd. and CapitaLand Retail China Trust settled their joint 3.36 billion yuan purchase of the Rock Square mall, marking their first asset buy in Guangzhou, China.
* Changes in recent market conditions prompted Gree Real Estate Co. Ltd. to abandon its plans to issue 1.0 billion yuan of medium-term notes, Reuters reported, citing a Chinese announcement.
* A joint venture comprising Canary Wharf Group Plc, Bank of China Ltd. and Xiong'An Construction Investment Group will work on the development of the financial and technology district of Xiong'An in Hebei, China, which will have an initial area that equals the size of Paris.
* Chinese conglomerate HNA Group Co. Ltd. is looking to sell 100 billion yuan of properties within the first half of 2018 as it aims to raise funds for debt repayment, Bloomberg News reported, citing people familiar with the matter. The sources said about 80% of the plan will be executed in the second quarter.
It was earlier reported that the Chinese conglomerate was planning to sell roughly US$6 billion of commercial properties worldwide, with the first overseas property sold in Australia for A$205 million.
* The China Banking Regulatory Commission Shanghai Office issued new regulation to control property acquisitions, The Paper reported. The notice requires commercial banks in the city to only grant acquisition loans to development projects that are at least 25% fully funded.
Southeast Asia
* The development of Hongkong Land Holdings Ltd.'s second joint venture project in Indonesia with local conglomerate Astra International is slated to commence in 2018 for a 2022 completion. The proposed ARUMAYA project in south Jakarta's TB Simatupang business district has an investment value of 1 trillion Indonesian rupiahs, according to a release.
* Oxley Holdings Ltd. subsidiary Oxley MTN Pte. Ltd. issued, as planned, S$150.0 million in 5.70% notes due Jan. 31, 2022, under its US$1.00 billion guaranteed euro medium-term note program.
* In Singapore, respective owners of the Katong Park Towers residential development at 114A Arthur Road and the Chinatown Plaza mixed-use asset at the junction of Craig Road and Neil Road have put up both properties for collective sale with asking prices of S$288 million and S$270 million.
India
* Approximately 850 houses will be offered at the launch of Mahindra Lifespace Developers Ltd.'s maiden joint affordable housing project with HDFC Capital Advisors Ltd. in the Indian town of Palghar. India's Mint reported that the houses that will be offered February occupy a nine-acre site.
Japan
* Pursuant to its asset reshuffling strategy, Kenedix Office Investment Corp. completed its ¥9.50 billion acquisition of the fully leased JN Building in Yokohama from an unnamed vendor.
* Invincible Investment Corp. wrapped up its divestment of three residential properties and two office assets for a combined consideration of approximately ¥5.46 billion.
* Mitsui Fudosan Co. Ltd. will launch its remodeled Mitsui Shopping LAZONA Kawasaki Plaza in Kawasaki City with 103 tenant stores set to start to open March 20, Jutaku-Shimpo-Sha reported.
Cam Nones, Emily Lai and Jaekwon Lim contributed to this report.
As of Jan. 31, US$1 was equivalent to 6.29 yuan, 13,388.00 Indonesian rupiahs, ¥109.27 and S$1.31.
