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Blackstone mulls sale of data centers; Hong Kong weighs Disneyland site options


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Blackstone mulls sale of data centers; Hong Kong weighs Disneyland site options

* Blackstone Group LP, fresh from signing a binding A$3.14 billion deal to buy Investa Office Fund, is understood to have appointed JPMorgan bankers to gauge the market for the potential sale of its data center portfolio in Australia, The Australian Financial Review's Street Talk reported.

According to industry sources, properties included in Blackstone's DCI Data Centers portfolio are of higher quality than those held by data center provider Metronode, which was acquired by Equinix Inc. for roughly A$1.04 billion in April.

* Edward Yau, Hong Kong's secretary for commerce and economic development, said the city government is in discussions with relevant parties regarding various options for the 60-hectare site intended for Disneyland's expansion, The (Hong Kong) Standard reported. Yau added that proposals have been received for the property that Hongkong International Theme Parks is reportedly looking to buy.

Hong Kong and China

* China Merchants Land Ltd. obtained an up to 1.00 billion-yuan loan facility from an unnamed bank. The validity of the three-year term facility is conditional on China Merchants Shekou Industrial Zone Holdings Co. Ltd. remaining as the borrower's single largest shareholder.

* In May, China Resources Land Ltd. paid nearly 5.72 billion yuan for the acquisition of five land parcels across China and in Hong Kong with a combined gross floor area of approximately 481,162 square meters. Year-to-May, the developer spent about 39.45 billion yuan to buy 30 land plots.

* Shenzhen Investment Ltd.'s contracted sales grew 18.9% year over year in May to roughly 832 million yuan, representing an estimated sales area of 37,904 square meters.

* Real estate agents cited by The Standard said Hong Kong's home purchase affordability ratio would likely worsen in 2019 to 70% despite an expected slowdown in price hikes to 5% in the second half of 2018. Sharmaine Lau, chief vice president of mReferral Mortgage Brokerage Service, noted that the ratio currently sits at 60%, a record high since 2009.


* Office-focused Manulife US REIT generated gross proceeds of about US$197.2 million from its recently concluded preferential offering of 227,935,981 new units. Each unit included in the oversubscribed offering is priced at 86.5 cents.

* The 56-unit Park House residential development near the Orchard Boulevard shopping stretch fetched S$375.5 million when it was awarded to a subsidiary of Hong Kong-listed Shun Tak Holdings Ltd., The (Singapore) Business Times reported, citing marketing agent CBRE.

The property's new owner plans to transform the site into a luxury residential development that is expected to be completed in 2023.

* Meanwhile, the tender for the en bloc sale of the 120-unit Lakeside Apartments at Yuan Ching Road is set to close July 24, marketing agent SLP International said, as cited by The Business Times. The property was recently listed after more than 80% of its owners consented to the planned divestment.

Elsewhere in Southeast Asia

* Diversified real estate investment trust VinaLand Ltd. is expecting a US$45.2 million gain from the sale of its Aqua City residential project in Vietnam's Dong Nai province to Bach Kim Real Estate Co. Ltd. Completion of the transaction is scheduled by June-end.

* Filipino developer 8990 Holdings Inc. is expecting to record overall revenue of 11.5 billion pesos for full year 2018. About 40%, or approximately 4.4 billion pesos of the anticipated income, is expected from the sales of its Urban Deca Homes Manila in the Tondo area of Manila.


* Oberoi Realty Ltd.'s qualified institutional placement committee will meet June 19 to finalize the details of the company's proposed share sale. Mint (New Delhi), citing a person aware of the fundraising plans, reported that the real estate developer is looking to raise 12.00 billion rupees from the process, the launch of which was flagged earlier in June.

* HDFC Bank Ltd.'s real estate fund invested in ATS Infrastructure Ltd.'s HomeKraft housing venture to assist the latter with the formation of a US$300 million vehicle, Mint reported. The planned venture will be mandated to develop affordable and mid-income homes across India.

When HomeKraft was launched, it was reported that the venture would spend 20 billion rupees over five years to develop an estimated 6,500 housing units.


* Elanor Investors Group agreed to pay nearly A$125.3 million for the 15,602-square-meter WorkZone West commercial property in Perth's central business district, the AFR reported. The property will be seeded to Elanor's new fund, WorkZone West Syndicate, at the completion of the transaction, which is being pursued as part of the listed company's asset recycling strategy.


* Mitani Sangyo Co. Ltd. and subsidiary Infill Co. Ltd. will enter the hotel renovation business under a cooperation agreement with Intenza Corp, Yutosoken reported. The trio's initial project will be at the Hotel Villa Fontaine, being developed by Sumitomo Realty & Development Co. Ltd.

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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.

Rollen Catorce and John Chan contributed to this report.

As of June 13, US$1 was equivalent to 6.40 yuan, 67.52 Indian rupees, 53.22 Philippine pesos and S$1.33.