* Airbnb Inc. listings in Japan were reduced to about 13,800 from more than 62,000 properties, following the removal of properties owned by unauthorized hosts, the Nikkei Asian Review of Tokyo reported. The crackdown happened ahead of the June 15 implementation in the country of the private home-sharing laws, or minpaku, the first national legal framework for short-term home rental in Asia. The new law will put a 180-day-a-year cap on home sharing in the country.
* Five developers in China, including Country Garden Holdings Co. Ltd., Guangzhou R&F Properties Co. Ltd. and a mainland-listed subsidiary of Zhenro Properties Group Ltd., have suspended their respective plans to issue bonds totaling 38.1 billion yuan amid the Chinese government's ongoing deleveraging campaign, Caixin (Beijing) reported.
The publication added that the developers were also discouraged by the outcome of Beijing Orient Landscape & Environment Co. Ltd.'s recent offering of 1 billion yuan of bonds, which only delivered 5% of the targeted proceeds to the issuer.
Southeast Asia
* Debao Property Development Ltd. and China Yuanbang Property Holdings Ltd. are being placed on the Singapore stock exchange's watch list starting June 5, as both companies recorded less than the minimum volume-weighted average price of 20 Singapore cents for the last six months. The two companies could be delisted from the bourse if they remain on the watch list for 36 months, according to separate releases.
* In the Philippines, Robinsons Land Corp. is making some units within The Radiance Manila Bay residential project in Pasay City available for online listings through home-sharing applications, such as Airbnb, HomeAway, Roomorama and Tripping.com, BusinessWorld (Manila) reported.
The two-tower development features a 50-meter lap pool, children's play area, meditation garden and garden walk, among other amenities.
* Megaworld Corp. is expecting 1 billion Philippine pesos of sales from the Chelsea Parkplace residential development that it recently launched in the city of San Fernando in the Philippine province of Pampanga. The project being built on a 35.6-hectare site will provide 193 units in a 12-story building.
* Mapletree Logistics Trust is issuing 183,792,000 new units June 5 pursuant to its S$220.0 million private placement. Listing of the units on the Singapore stock exchange is expected on the same day at 9 a.m. local time.
* SP Setia Bhd. President and CEO Khor Chap Jen said the company is planning to launch a new township development in the Malaysian state of Penang by 2018-end, The (Malaysia) Star reported. During the media briefing that followed the World Environment Day celebration, Khor also expressed optimism that the recent implementation of the zero-rated Goods and Services Tax will contribute to the recovery of Malaysia's property market.
Hong Kong and China
* Powerlong Real Estate Holdings Ltd.'s Shanghai Zhanmei Industrial Development Co. Ltd. subsidiary secured the rights to a 121,124-square-meter mixed-use land parcel in Ningbo, China, after it placed a nearly 2.35 billion-yuan winning bid during an auction administered by the Ningbo Municipal Bureau of Land Resources.
* China Vanke Co. Ltd. contracted 2,797,000 square meters of property in May to see its sales increased to 42.88 billion yuan from the 35.89 billion yuan recorded in the prior-year period. During the reporting month, the developer paid roughly 13.90 billion yuan for the purchase of 17 new projects and spent an additional 807 million yuan for the acquisition of four new logistics property projects in China.
* Times China Holdings Ltd. applied with the Hong Kong stock exchange for the listing of its US$450.0 million issuance of 7.85% senior notes due June 4, 2021. The listing of the senior notes is expected to take effect June 5.
* JLL, in its "China 12" report, is forecasting that the annual direct investment into China's commercial real estate market could grow to US$150 billion from US$40 billion due to the continuous growth of corporate space in the country.
India
* Indiabulls Real Estate Ltd.'s Lucina Land Development subsidiary is transferring a 24-acre land plot in Panvel to the Mumbai Metropolitan Region Development Authority, The Economic Times of India reported. The handover, which is part of the rental home project by the town planner, also included 4,834 constructed affordable homes, which reflect more than 1.28 million square feet of completed development.
* South Korea's Mirae Asset Global Investments Co. Ltd. is planning to launch a US$100 million alternative investment fund that will focus on residential projects across Mumbai, Bangalore, the National Capital Region, Pune, Chennai and Hyderabad, Mint (New Delhi) reported, citing Puneet Bhatia, the company's head of real estate.
Bhatia added that the local arm of Mirae Asset is seeking permission to provide debt through nonconvertible debentures.
Australia
* Charter Hall Retail REIT purchased the Gateway Plaza shopping center in Leopold, Victoria, for A$117 million, through a joint venture formed with Charter Hall Prime Retail Fund. The property spans 33,510 square meters and contains parking spaces for 1,117 cars.
* The Imperium3 consortium secured support from the Queensland government for its plan to build a A$2 billion lithium-ion battery factory in Townsville, The Australian reported. Boston Energy and Innovation's Bill Moss, the leader of the consortium, said the factory has the potential to break China's monopoly of the battery market.
Japan
* Sumitomo Realty & Development Co. Ltd. opened the newly constructed Sokkuri Reform Gallery in Aoba Ward, Sendai City. The gallery is equipped with seismic reinforcement for safety based on preliminary building diagnosis and insulation construction to improve comfort, Yutosoken reported.
* Mitsubishi Estate Co. Ltd.'s Royal Park Hotels and Resorts Co. Ltd. is marking its first project in the Hyogo Prefecture with the planned development of a hotel in Kobe City, Kobe Keizai News reported. The hotel will feature 140 rooms.
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Rollen Catorce and John Chan contributed to this report.
As of June 4, US$1 was equivalent to 6.41 yuan, 52.58 Philippine pesos and S$1.34.
