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Mapletree joins £4B race for IQ; Blackstone's ¥171B Unizo bid awaits answers


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Mapletree joins £4B race for IQ; Blackstone's ¥171B Unizo bid awaits answers

* Singapore's Mapletree Investments Pte. Ltd. is being floated as one of five potential bidders for British student housing provider IQ Student Accommodation along with The Blackstone Group Inc., Brookfield Asset Management Inc., Greystar Real Estate Partners LLC and Patrizia AG, London's Financial Times reported, citing people briefed on the matter. A deal for the targeted company may be worth £4 billion, the sources added.

* Meanwhile, Blackstone Group is waiting for a response from Unizo Holdings Co. Ltd. in relation to its ¥171 billion takeover offer for the Japanese hotel operator, Reuters reported, citing the private equity giant. In October, Blackstone said it would launch a tender offer or explore other options if Unizo rejects its proposal.

Greater China

* China Overseas Property Holdings Ltd. placed the winning 2.67 billion-yuan bid for a 72,400-square-meter residential land parcel in Zhengzhou, China, Guandian reported. The developer outbid four other tenderers to secure the rights to the property where houses will be sold for an average price of up to 32,000 yuan per square meter.

* Greenland Hong Kong Holdings Ltd. won the auction for a roughly 164,406-square-meter commercial-focused development site in Nantong, China, after offering to pay 1.23 billion yuan. The property comprises a commercial plot of about 48,234 square meters and a residential-and-commercial land parcel spanning about 116,172 square meters.

* Longfor Group Holdings Ltd.'s contracted sales in the first 11 months of 2019 increased to 222.70 billion yuan from 182.17 billion yuan in the prior-year period, while Powerlong Real Estate Holdings Ltd.'s contracted sales for the comparable period rose by about 47.4% to nearly 55.31 billion yuan from 37.52 billion yuan.

* K. Wah International Holdings Ltd. pocketed HK$1.22 billion from the first-day divestment of 125 units at its K. Summit project in the Kai Tak area of Kowloon, Hong Kong. The developer sold 55% of the units at an average price of HK$9.7 million, according to Hong Kong Economic Times.

* China Evergrande Group disclosed in a filing that it would pay a dividend of 1.419 yuan per share for the year ended Dec. 31, 2018, subject to the approval of its shareholders.

* Hong Kong's Lands Department said it will launch a public tender Dec. 13 for the roughly 13,538-square-meter private residential development site in the Tuen Mun town of New Territories in the city. The Tuen Mun Town Lot No. 518 property that will remain on offer until Jan. 10, 2020, has a minimum gross floor area of 32,492 square meters and a maximum gross floor area of 54,152 square meters.


* Singapore-listed SPH REIT completed its A$670.0 million acquisition of LendLease Group's 50% stake in the Westfield Marion shopping center in Adelaide. The real estate investment trust said it used the S$300.0 million it raised from its issuance of perpetual securities and the proceeds from its private placement of 156,645,000 units at S$1.050 apiece to finance the transaction.

* ICD Property and the Adelaide City Council unveiled a A$400 million redevelopment plan for the Central Market Arcade in the city, The Australian Financial Review reported. The refurbishment will pave the way for the conversion of the property into an integrated complex with commercial and retail facilities, as well as a 35-story residential building.

* Mirvac Group secured approval to add four residential buildings to the Green Square Town Centre in Sydney, the AFR reported. The new buildings will be connected to the listed developer's existing Ovo and Ebsworth projects within the A$13 billion urban renewal joint venture of the city government with Landcom.


* SM Prime Holdings Inc. received a notice to proceed from the City of Pasay for its proposed 360-hectare reclamation project in the city's municipal waters. The planned development will be connected to the Filipino property company's existing Mall of Asia integrated project, according to a news release.


* Chief Cabinet Secretary Yoshihide Suga said the Japanese government is planning to utilize its financial investment and loan program to add 50 luxury hotels across the country, Tokyo's The Nikkei reported. The development of the hospitality properties is in line with the government's target of 60 million inbound tourists by 2030.

Other real estate news

* IREIT Global is marking its first foray in Spain with the purchase of four freehold office buildings under a partnership with Tikehau Capital and City Developments Ltd. The targeted properties will be bought for €133.8 million, representing a 3.3% discount to the aggregate €138.3 million value of the assets, according to a news release.

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.

R Sio, Emily Lai, Jaekwon Lim and Arra Czarina Igno contributed to this report.