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Hysan listing a US$1.5B debt program; real estate majors invest in tech startups

* Hysan Development Co. Ltd. is listing a US$1.5 billion medium-term note program on the Hong Kong bourse. Approval for the program is expected to be made effective on or about Oct. 16, with the notes to be issued to professional investors within 12 months from Oct. 13.

* CK Hutchison Holdings Ltd. Chairman Li Ka-Shing, through his Horizons Ventures private investment company, led a US$7 million funding round for technology startup MioTech, the South China Morning Post reported. MioTech provides artificial intelligence services to investors, and it is the latest addition to the seven or eight financial technologies companies that the Li company has invested in.

Two other major developers are also in the news for recent investments in tech startups.

In Japan, Mitsubishi Estate Co. Ltd. is participating in a four-company consortium investing ¥460 million in Nurve Inc., a Tokyo-based virtual reality technology company, Tokyo's The Nikkei reported.

In Australia, Charter Hall Group and Collective Campus teamed up to launch a 13-week program for startups focused on the property market. Charter Hall Chief Technology Officer Aidan Coleman told The Australian Financial Review that all industries are "being disrupted by technology," and the incubator program will address the opportunities and challenges faced by the property market.

Hong Kong and China

* China Vanke Co. Ltd. signed a strategic partnership framework with the municipal government of Chengdu in China. It agreed to invest 200 billion yuan over the next few years to build commercial and logistic properties in the city, National Business Daily reported.

* Greenland Holdings Corp. Ltd. established a healthcare and leisure business. The 20 billion-yuan investment will entail the development of 100 hotels across the mainland, with the initial phase to be built in Shanghai and Wuhan, Yicai reported.

* China Jinmao Holdings Group Ltd. is moving the estimated payout deadline for a special interim dividend to or before Dec. 29 from Oct. 31. Shareholders on record as of Dec. 19 are eligible for the dividend.

* Sun Baojie is leaving her post as nonexecutive director at Beijing Capital Land Ltd. due to reallocation of duties. Su Zhaohui is proposed to fill the vacated post, effective as soon as it is approved by shareholders at an extraordinary general meeting.

* Marriott International Inc.'s Sheraton Hotels & Resorts opened the 291-room Sheraton Guangzhou Nansha Hotel in Guangzhou, China. It is the second Sheraton property in Guangzhou, according to a release.

* People's Bank of China Governor Zhou Xiaochuan said measures to address weaknesses in China's economy, including those aimed at stopping a housing market bubble, will continue to be put in place.

* Meanwhile, the Beijing Statistics Bureau said in a statement cited by Reuters that year-to-August investment in new public and private housing and supporting facilities reached roughly 139 billion yuan, or just 55.5% of Beijing's 250 billion-yuan full-year target. As such, the bureau urged officials to consider meeting the investment goal as "a political task."

* The Housing Ministry of China will continue a program in which city governments buy surplus apartments from developers for families from condemned city blocks through 2020. However, the strategy — one of the "impressive" ways that the government shows its housing market support, according to Rosealea Yao, an analyst at Beijing research firm Gavekal Dragonomics — is just adding more debt to already indebted cities, The Wall Street Journal reported.


* DEXUS and its Dexus Wholesale Property Fund signed a A$150 million-plus lease agreement with National Broadband Network. The AFR noted that the network will occupy 20,364 square meters of the 42,134 square meters being built at the 100 Mount Street tower in North Sydney.

* According to the biannual Reserve Bank of Australia Financial Stability Review, housing price growth has slowed in Sydney and Melbourne, partly attributed to an increase in supply, higher interest rates for some borrowers and reduced interest from foreign buyers, The Australian reported.


* Global Logistic Properties Ltd. placed dormant subsidiary Funabashi Two Logistic Special Purpose Co. in voluntary liquidation.

* Hulic Reit Inc. revised its projections for its financial results for the six-month period ending Feb. 28, 2018, noting that profit and ordinary income for the period will increase 19.3% to about ¥4.15 billion, while operating revenues are expected to go up by 13.9% to ¥8.11 billion.

* Japanese real estate companies will see a remodeling boom as the number of apartment buildings more than 50 years old is expected to rise to 630,000 from 40,000 in one decade, the Nikkan Kogyo Shimbun reported.

* Real estate prices in the country are rising so high that many investors are shifting their attention overseas, The Nikkei Asian Review reported, citing industry observers and developers.

The publication noted that nearly 70% of respondents for a Japan Real Estate Institute survey said property prices are nearing their peak.


* Singha Estate Public Co. Ltd. Chairman Chutinant Bhirombhakdi said in a Reuters interview that the company is looking into growing its office and commercial portfolio. The news outlet noted that 58% of the Thai developer's second-quarter revenue came from its residential business.

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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, Emily Lai and Jaekwon Lim contributed to this report.

As of Oct. 13, US$1 was equivalent to ¥119.94 and 6.59 Chinese yuan.