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Chinese developers get 200B yuan loan; Brookfield markets A$200M Melbourne hotel

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Chinese developers get 200B yuan loan; Brookfield markets A$200M Melbourne hotel

* Bank of China Ltd. is lending at least 200 billion yuan to eight property companies in China in support of the government's initiative to boost rental housing supply in the country.

The recipients of the loan are China Vanke Co. Ltd., Country Garden Holdings Co. Ltd., China Overseas Land & Investment Ltd., China Resources Land Ltd., Longfor Properties Co. Ltd., Greentown China Holdings Ltd., Poly Real Estate Group Co. Ltd. and China Merchants Property Development Co. Ltd.

* Meanwhile, the Chinese government's support for the rental housing sector also helped boost demand for multifamily housing in the country, according to a JLL study. The research has found that urbanization trends and affordability concerns in larger Chinese cities have pushed many investors to look toward the rental market for potential investment.

In the wider Asia-Pacific region, investments in the residential multifamily sector grew year over year by 61% in 2017 to US$20.3 billion, JLL data showed.

* Canadian real estate company Brookfield Asset Management Inc. put on the block the Pullman on the Park hotel in Melbourne with a A$200 million price tag. The AccorHotels-managed, 419-room hotel, formerly known as Hilton on the Park, was put under Brookfield's ownership following its takeover of Thakral Holdings Group in 2012, The Australian Financial Review reported.

Hong Kong and China

* China Vanke achieved sales of 67.98 billion yuan for the month ended Jan. 31, compared to the 48.12 billion yuan recorded in January 2017. The sales amount corresponds to sales area amounting to 4,444,000 square meters.

Since its December 2017 update, the developer said it acquired 14 new projects and five new logistic property projects in China for roughly 7.05 billion yuan and nearly 1.15 billion yuan, respectively.

* Zhenro Properties Group Ltd. said its sole representative partially exercised the overallotment option of its IPO to accommodate the oversubscription for its international offering. The company reallocated 123,000,000 shares from its global offering for the overallotment issuance, which will be priced at HK$3.99 per share.

* China Overseas Land subsidiary China Overseas Grand Oceans Group Ltd.'s proposed issuance of 1,141,119,947 rights shares priced HK$4.08 apiece was oversubscribed by 1,884,161,447 rights shares, according to a filing.

The rights shares were offered to shareholders on record as of Jan. 5, at a consideration of 1 China Overseas Grand Oceans rights share for every 2 shares held. According to the company, it received 153 valid acceptances for provisional allotments and 79 valid applications for excess rights shares.

* Times Property Holdings Ltd. said March 5 that it will redeem all of its outstanding 11.450% senior notes due 2020, which as of Feb. 2 amounts to US$280.0 million.

* Hong Kong-listed Kai Yuan Holdings Ltd. is expecting attributable loss to shareholders for the year ended Dec. 31, 2017, to fall by approximately 80% year over year.

* Yinyi Real Estate Co. Ltd. is planning to change its name to Yinyi Co. Ltd., Reuters reported.

India

* Lodha Developers Private Ltd. said it will draft a prospectus in February for its proposed IPO. The developer is believed to be gearing up to launch the offering during the second quarter, aiming to raise up to US$1 billion.

Singapore

* GuocoLand Ltd. intends to boost its 4.60% series of subordinated perpetual securities by issuing another S$50.0 million. The issuance, slated for Feb. 8, will be consolidated with the company's previous offering of S$350.0 million of the same securities under its S$3.00 billion multicurrency medium-term note program, according to a news release.

* Fitch Ratings downgraded its ratings for Global Logistic Properties Ltd. to BBB from BBB+, with a stable outlook on its issuer default rating.

Elsewhere in Southeast Asia

* Tropicana Corp. Bhd. subsidiary Tropicana Desa Mentari Sdn. Bhd. and Tiarn Oversea Group Sdn. Bhd. revised some of the terms of their nearly 569.9 million-Malaysian-ringgit deal for the sale and purchase of a roughly 251.58-acre site in the Malaysian state of Johor. Among the changes made are related to the schedule of Tiarn Oversea's payments for the property.

* Axis Real Estate Investment Trust is planning to incorporate a roughly 515,000-square-foot single-story build-to-suit warehouse in its Axis Mega Distribution Centre development in the Malaysian town of Klang. The approximately 24.78-acre project, formerly known as the Axis Pre-Delivery & Inspection Centre, will be leased to Nestlé (Malaysia) Bhd.

Japan

* Takeo Higuchi, CEO of Daiwa House Industry Co. Ltd., told Tokyo's The Nikkei that the company sees Japan's pre-Tokyo Olympics building construction boom to begin to cool down in 2018. Higuchi added that the company will step up overseas market expansion in search of future revenue growth.

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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. Articles and links are correct as of publication time.

Rollen Catorce and Jaekwon Lim contributed to this report.

As of Feb. 2, US$1 was equivalent to 6.30 yuan, 3.90 Malaysian ringgit and S$1.32.