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GLP to invest ¥133B in Japanese project; Yanlord buys land parcel for 7.84B yuan

* Global Logistic Properties Ltd. plans to invest ¥133 billion in the development of the GLP Sagamihara project in Greater Tokyo. The company will develop the long-term logistics facilities in phases, and the project itself will be the largest of its kind in Japan upon completion.

* Yanlord Land Group Ltd. unit Yanlord Land Pte. Ltd. acquired a prime integrated development site at Nanjing Eco-Island in Nanjing, China, for approximately 7.84 billion Chinese yuan. The purchase price for the 541,000-square-meter property translated to roughly 14,486 yuan per square meter. The company plans to develop residential apartments, recreational facilities, offices and commercial units at the site.

Hong Kong and China

* Hang Lung Properties Ltd. increased prices by up to 4% for 48 flats for sale Dec. 31 at its Long Beach residential project in Kowloon West, Hong Kong, The (Hong Kong) Standard reported.

* Joy City Property Ltd. unveiled its first light asset output project in China, the Tianjin He Ping Joy City. The shopping center generated almost 10 million yuan in online and offline sales on the first day of its opening Dec. 24.

* Sixteen land parcels in Hangzhou, China, were put up for auction Dec. 26, with six properties in the downtown city receiving bids for 22.34 billion yuan, Xinhua News Agency reported.


* U.S.-based AEW Capital Management bought Eureka Funds Management's 55 Clarence Street building in Sydney for approximately A$169 million, reflecting a nearly 6% yield, The Australian reported.


* Mitsubishi Estate Home Co. Ltd. will open the Musashino Home Gallery on Jan. 7, 2017, as the latest model home for the free-design brand One Order, Jutaku-Shimpo-sha reported.

* Daiwa House Industry Co. Ltd. developed two hotels, the La Gento Hotel Tokyo Bay in Urayasu City, Chiba Prefecture, and the La Gento Hotel Osaka Bay in Konohana Ward, Osaka City, Jutaku-Shimpo-sha reported.

Southeast Asia

* CapitaLand Ltd. said CapitaMalls Asia Treasury Ltd. plans to redeem all the outstanding bonds from its issuance of S$400.0 million in 3.8% callable step-up bonds due 2022 on Jan. 12, 2017.

* Country Garden Holdings Co. Ltd. remains confident it will be able to secure a large number of buyers for its US$100 billion Forest City township in Malaysia by 2018, New Straits Times reported. The project will not compete with Iskandar Malaysia's projects but will complement them instead, since Forest City possesses its own key economic drivers, according to Jacky Zhang, Country Garden's director of sales.

* SM Prime Holdings Inc.'s residential development unit, SM Development Corp., plans to enter the affordable housing market in the Philippines in 2017 by launching a housing project in Central Luzon, The Manila Times reported.

* Hankyu Realty Co. Ltd. will start its condominium business in Thailand, as it established a joint venture with local real estate developer Sena Development, Jutaku-Shimpo-sha reported. Hankyu will own 49% of the joint venture, while Sena will own the remainder.


* Property developer Vatika Group received 4.25 billion Indian rupees from Piramal Fund Management as construction funding for the One on One commercial project in Gurgaon, The Economic Times of India reported, citing two persons familiar with the development.

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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.

Abdul Rehman Maqbool, John Chan and Julie Zhu contributed to this report.