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Blackstone to sell A$700M of offices; Brookfield in US$1B deal in India

* Blackstone is planning to sell around 10 office properties worth approximately A$700 million in Australia, The Australian reported. The properties are in Brisbane, Canberra, Perth and Sydney, and are expected to be sold in a single transaction or via separate deals.

* Canada's Brookfield Asset Management signed a deal to buy Hiranandani Group's office and retail properties in India for approximately US$1 billion, The Economic Times of India reported, citing unnamed sources. The agreement for the portfolio spanning 4.5 million square feet of space in Powai is reportedly the biggest commercial property deal in the country.


* Frasers Centrepoint Ltd.'s Frasers Property Australia Pty. Ltd. exchanged contracts for a 15.19-hectare site in Chullora, New South Wales. Frasers also recently acquired 45.72 hectares of land in Sydney and Melbourne to advance its industrial expansion nationwide, according to a release.

* Centuria Metropolitan REIT said it secured nine lease deals for 2,234 square meters of space since June 30. The deals have increased the REIT's portfolio occupancy to more than 98%.

* Cbus Property unveiled a A$1.2 billion project on Collins Street in Melbourne, the Australian Financial Review reported. The mixed-use development dubbed Pantscraper includes 2,000 square meters of public space, a 294-room hotel and a 43,000-square-meter commercial tower.


* Mitsubishi Estate Co. Ltd. and Mitsui Fudosan Co. Ltd. are two of the Japanese property developers delving into investment opportunities in a "booming" Southeast Asian property market, the Nikkei Asian Review reported. The companies are working with different joint venture partners for condominium projects in Thailand.

* UOL Group Ltd. said it and UVD (Projects) Pte. Ltd. acquired a 18,711.2-square-meter residential site at 110-112 Potong Pasir Avenue 1, Singapore, for S$334.2 million. The acquisition of Raintree Gardens was done through an enbloc tender.

* The prospect of launching REITs in the Philippines faces uncertainties due to the Bureau of Internal Revenue's decision to maintain the current tax rules governing such vehicles, The Philippine Star reported, citing BIR Assistant Commissioner Marissa Cabreros.

The public float requirement for REITs in the country, on the other hand, will "definitely" be lowered, according to SEC Chairman Teresita Herbosa, the report said.


* Sumitomo Realty & Development Co. Ltd. will start work on a nine-level condominium project in December. The property will have a total floor area of 2,389 square meters and will be located in Kamiyama-cho, Tokushima Prefecture, Kentsu Shinbunsha reported.

* TH Real Estate acquired Standard Life Investments's Ginza 1 Chome Building in Tokyo for approximately US$82 million, IPE Real Estate reported. The transaction is TH Real Estate's first in the country.


* Link Real Estate Investment Trust will still outsource the management of wet and dry markets at its Hong Kong properties, amid criticisms of high rents that are said to be driving out tenants, The (Hong Kong) Standard reported, citing George Hongchoy Kwok-lung, CEO of Link Asset Management. Hongchoy said outsourcing is an efficient business strategy for the REIT.

* Moody's said the Hong Kong real estate market's resurgence is not good for local banks, as they could face "higher latent risks in future mortgage underwriting," Moody's analyst Sherry Zhang said in a note.

* About 13 developers in Zhengzhou, Henan in China were fined 9.46 million Chinese yuan for violating government rules in pushing up home prices, Xinhua News Agency reported.

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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.

Cam Nones, John Chan and Julie Zhu contributed to this report.