trending Market Intelligence /marketintelligence/en/news-insights/trending/GTED7SwPnihVC7P0Rb609Q2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

DLF kicks off 40% stake sale in rental unit; Link REIT agrees to HK$1.96B divestment

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


DLF kicks off 40% stake sale in rental unit; Link REIT agrees to HK$1.96B divestment

* Singaporean sovereign wealthfund GIC joined a list of potential buyers of promoters' 40% stakesale in DLF CyberCity Developers Ltd., with a deal estimated to reach up to 140.00 billionIndian rupees, the Press Trust of India reported,citing unnamed sources.

DLFbankers reportedlydistributed an information memorandum to a group of 18 to 20 global investors,indicating the start of the stake divestment, according to the sources. Otherpotential buyers include Blackstone, Canada Pension Plan Investment Board, AbuDhabi Investment Authority and Qatar Investment Authority.

* struckdeals with six different purchasers of seven properties in HongKong for an aggregate price of HK$1.96 billion, which exceeds the totalappraised value of the assets by 33% as of March 31.

* saidit plans to pay the interest on the S$800.0 million 1.95% convertiblebonds due 2023,payable to bond holders on record at the close of business on the fifthbusiness day prior to the scheduled payment date on April 18.

* Property fund managerResolution Capital believesDEXUS PropertyGroup's A$2.5 billion bid to acquire Investa Office Fund, or IOF, is the "leastbad" choice for IOF investors, TheAustralian Financial Review reported,citing Resolution Capital's Andrew Parsons.

Parsonsadded that agreeingto acquire 50% of the Investa management platform "is absurd and will notresolve anything," according to the publication.

AUSTRALIA

* 's Direct OfficeFund reached a final deal for its acquisition of Canadian pension fund PSPInvestments' 50% stake in the property inBrisbane, The Australian reported.

Theunlisted fund's purchase of a stake in the A$186 million building boosted itsreal estate portfolio to around A$815 million, according to the publication.The grade A office property has 12 floors and 23,759 square meters of space.

* said in a news release thatit kicked off an on-market campaign to sell its Port Adelaide DistributionCentre in South Australia. The asset sits on 32 hectares of land and comprises12 freestanding industrial buildings.

Theoffer price was not disclosed. CBRE and JLL were appointed to market theproperty.

* The total demand for officespace in key Australian markets increased 33% to almost 508,000 square metersin the first of quarter of 2016 compared to the registered demand in the lastquarter of 2015, the AFR reported,citing Colliers International research.

* DEXUS and Canada PensionPlan Investment Board seek to divest the 108 North Terrace office building inAdelaide for around A$90 million, as more investors search for prime realestate in the city, The Australian reported.The 12-story building spans a net lettable area of 20,088 square meters with127 carparks.

* Moody's said residentialproperty investors and mortgage-backed securities in Melbourne and Sydney facepotentially bigger risks due to rental yields on residential properties in thetwo cities dropping to "record low" levels.

* STR'spreliminary data for March showed that hotels in Sydney achieved mixedyear-over-year results in three performance metrics. Revenue per available roomrose 2.0% to A$204.47, average daily rate climbed 2.6% to A$230.74, whileoccupancy dropped 0.6% to 88.6%.

Data also showed that there was a 2.2% increase in supplyand a 1.5% increase in demand during the comparable period in the sector.

HONG KONG AND CHINA

* and itssubsidiaries posted 6.89 billion Chinese yuan of aggregated contracted sales inMarch, up 127% year over year. The sales figure accounted for 472,000 squaremeters of contracted gross floor area.

* recordedaround 8.2 billion yuan of contracted sales in March, representingapproximately 632,000 square meters of contracted area sold in the month.

* said it and subsidiaries logged approximately 1.06 billion yuan of contractedsales in March by selling 137,562 square meters of sales area.

* East China's Suzhou city hasauctioned 13 land slots with a total value of over 25 billion yuan on April 7and 8, which has attracted more than 40 property developers, National Business Daily wrote.

JAPAN

* 'sMitsubishi Jisho Residence Co. Ltd. and Mitsubishi Logistics Corp. have jointlystarted the construction of the 164-unit The Park House Takarazuka inTakarazuka, Hyogo. The condominium tower is expected to be completed in January2018, Construction News reported.

SINGAPORE

* CEO Chong KeeHiong urged the Singaporean government to enforce gradual steps in unwindingvarious cooling measures currently enforced in the property sector, The (Singapore) Business Times reported.

However,Minister for National Development Lawrence Wong argued that these measures haveshown favorable results, adding that it would be premature "to declarevictory" and start pulling them out, according to the publication.

SOUTHEAST ASIA

* CapitaLand establishedCapitaLand Vietnam Property Management & Consultancy Ltd. as its newsubsidiary in Vietnam. The unit's principal activity involves real estateconsultancy and management services.

* ismulling over a plan to issue retail bonds and/or corporate notes to raise 15billion Philippine pesos for the company's ongoing expansion in thePhilippines, The Philippine Star reported,citing DoubleDragon Chairman and CEO Edgar Sia.

Now featured

:SNL-covered Asia-Pacific real estate companies raised $17.02 billion throughcapital offerings year-to-date through March 31, up $3.68 billion from theamount raised during the first quarter of 2015.

The Daily Dose Asia-Pacific,Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external linksmay require a subscription. Articles and links are correct as of publicationtime.