trending Market Intelligence /marketintelligence/en/news-insights/trending/j0swxoq1wrgdj8on8qj9fg2 content esgSubNav
In This List

Henderson Land FY'17 profit up 38% YOY; Lendlease wins contract for £1B scheme


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Henderson Land FY'17 profit up 38% YOY; Lendlease wins contract for £1B scheme

* Good property sales in its home city helped push Hong Kong-based Henderson Land Development Co. Ltd.'s underlying profit attributable to equity shareholders to HK$19.56 billion for financial year 2017, reflecting a 38.0% annual gain from HK$14.17 billion. Both the underlying and reported EPS of the real estate company also increased during the comparable period to HK$4.89 from HK$3.54 and to HK$7.61 from HK$5.48, respectively.

* Allied London tapped Australian construction giant Lendlease Corp. Ltd. to develop four buildings at its 6-acre St John's high-rise integrated scheme in Manchester, U.K., which is worth an estimated £1 billion.

* Back in its home country, Lendlease sold the A$550 million Two Melbourne Quarter office tower development to a partnership between its Australian Prime Property Fund Commercial investment unit and First State Super fund. The project forms part of the diversified real estate manager and developer's A$2.5 billion Melbourne Quarter urban regeneration project in Melbourne's Docklands suburb.

Electricity and gas retailer EnergyAustralia, owned by Hong Kong-listed CLP Group, will be anchoring Two Melbourne Quarter, with a commitment to occupy 10.5 floors in the 25-story development.


* Listed companies Mirvac Group and CIMIC Group Ltd. struck a roughly A$90 million deal with Canberra-based developer Morris Property Group for the sale of a 2.6-hectare site that they jointly own in the Australian capital, The Australian reported. The value of the deal brokered by Colliers International is below the A$92 million that the pair paid when they bought the site in 2007.

* A company owned by Hong Kong billionaire Francis Choi is being floated in a report by The Australian as the unnamed private Asian investment house that is in advanced talks to buy Redefine Properties Ltd.'s 50% stake in the A$600 million Northpoint Tower in Sydney, which is also owned by Cromwell Property Group.

* Chinese developer Country Garden Holdings Co. Ltd. told The Australian that it is still exploring its options for the 364-hectare site in Sydney's Wollondilly Shire that it acquired for roughly A$80 million. The paper added that the developer earlier told the Greater Sydney Commission that the site could accommodate new housing, a town center and a school.

* Local developer Aqualand is selling its properties at 6 Darling Island Rd. and 34-38 Pirrama Rd. in the Sydney suburb of Pyrmont for an undisclosed amount, The Australian Financial Review reported. The properties on offer were collectively bought by the Chinese-backed company in 2015 for A$180 million.

* Century Group Aus, the local property platform of China Century Group Inc.'s partnership with Exhibition and Travel Group, is planning to develop an A$800 million apartment and hotel complex along the Yarra River banks in Melbourne to mark its maiden project, the AFR reported.

The site intended for the proposed development carries approval for a three-tower project that will accommodate 1,100 apartment units, according to the paper.


* OUE Commercial REIT said refurbishment works will begin mid-2018 on the 62-story One Raffles Place mall that it purchased for a price between S$1.03 billion and S$1.15 billion in 2015. In a news release, the listed trust also said that an unidentified co-working space operator will be taking up more than 35,000 square feet of space in the revamped mall.

* Zall Interconnection (BVI) Ltd., a subsidiary of Hong Kong-listed Zall Group Ltd., established a Singapore-based joint venture with Asian Gateway Investment Pte. Ltd. and GeTS Asia Pte. Ltd. that will oversee the formation and operation of a proposed global community trading platform.

* CapitaLand Mall Trust subsidiary CMT MTN Pte. Ltd. redeemed and canceled all its 3.731% fixed-rate notes due 2018, which were issued at an aggregate principal amount of US$400.0 million under its US$3.00 billion euro medium-term note program.

* Owners of the Olina Lodge project in District 10 are expecting approximately S$220 million from the third collective sale attempt of the 7,830.7-square-meter freehold site, which has capacity for a 12-story, 128-unit residential scheme, The (Singapore) Business Times reported.

Separately, the commercial-zoned Verdun House site is also up for en-bloc sale with a S$60 million price tag, the paper noted.

Hong Kong and China

* Chinese conglomerate HNA Group Co. Ltd. sold eight properties in mainland China in March to various investors, including Hong Kong-listed developers Sunac China Holdings Ltd. and Guangzhou R&F Properties Co. Ltd., Mingtiandi reported, citing Real Capital Analytics data. The assets are estimated to be worth US$1.1 billion.

Guangzhou R&F reportedly bought a high-end housing project in Hainan for 6.5 billion yuan from the debt-laden group, which according to the report is also in discussions to sell a residential scheme in Shanghai to Sunac China.

* Risesun Real Estate Development Co. Ltd. entered into a strategic cooperation agreement with the People's Government of Langxi County in China's Anhui province for the development of an international resort project, Reuters reported.

Other real estate news

* Chinese real estate company Xinyuan Real Estate Co. Ltd.'s unit acquired half of the stake in the Madison Project residential scheme in London through a £29.1 million deal with ED Group Holding Ltd. subsidiary ED Jersey Ltd. The project, expected to be completed in the third quarter of 2020, will feature a 53-story building comprising 423 residential apartments and 425 square meters of community facilities.

Now featured on S&P Global Market Intelligence

Data Dispatch: 6 US REITs identified as candidates for dividend increases

The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. S&P Global Market Intelligence provides links to external sites where these offer further, relevant information to our readers. While we ensure that such links are functional at the time of publication, we are not responsible in instances where those links are unavailable later.

Rollen Catorce contributed to this report.

As of March 21, US$1 was equivalent to 6.33 yuan and S$1.32.