trending Market Intelligence /marketintelligence/en/news-insights/trending/lNdaYrvQvqy_WIyxhXb7lg2 content esgSubNav
In This List

Hong Kong government auctions 2 sites; Peet wins OK to build 1,700 new homes

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Hong Kong government auctions 2 sites; Peet wins OK to build 1,700 new homes

* The Hong Kong government is auctioning two sites in Kowloon, according to the city's Lands Department. The first plot, a 59,764-square-meter site at the junction of Lin Cheung Road and Austin Road West, is designated for nonresidential and nonindustrial purposes. The government will be accepting bids until Nov. 22.

The second plot is an 18,353-square-meter site in the Kai Tak area designated for nonindustrial purposes, as well as for a range of social service facilities such as nursing homes. The government will invite bids for the site, with a maximum gross floor area of 111,953 square meters, from Sept. 27.

* Australia's Peet Ltd. has won a government approval to build 1,700 new homes in Flagstone, a satellite city in Logan, Queensland, The Australian Financial Review reported.

Greater China

* China Vanke Co. Ltd. plans to issue up to 2.5 billion yuan of lease rental bonds. The five-year bonds will be redeemable after the third year. The Chinese property developer expects to set the coupon rate Sept. 25.

* A revived auction of a commercial site on the runway of Hong Kong's former airport has drawn five bids, South China Morning Post reported, citing the city's Lands Department. Goldin Financial acquired the 10,692-square-meter plot for HK$11.12 billion in May, but withdrew its bid in mid-June citing social instability. A property agent said the site could now be resold at 40% less than the price in May.

* Billion Development and Project Management Ltd sold 145 of 172 apartments offered at The Aurora complex in Hong Kong on Sept. 22, at an average selling price HK$19,794 per square foot, South China Morning Post reported.

* Swire Properties Ltd. plans to cut rent temporarily for its tenants at Pacific Place, an upscale shopping mall in the protest-hit Admiralty area of Hong Kong, South China Morning Post reported, citing a company statement.

* China Merchants Land Ltd. acquired a commercial site in China's Xi'an city in an auction for 141.6 million yuan. The company said the plot has a total site area of 20,288 square meters

Singapore

* In the first eight months of 2019, sales of Singapore apartments worth at least S$10 million reached its highest in 11 years, buoyed by demand from Chinese buyers, Reuters reported, citing property consultants OrangeTee & Tie. During the period, 68 condominium units in the city-state were sold for S$10 million and more.

India

* The real estate regulator in the northern state of Uttar Pradesh plans to auction unsold apartments of defaulted developers in an attempt to speed up refunding homebuyers, The Times of India reported. This is the first time that such a move has been announced in India.

Australia

* A luxury house by the Brisbane River was sold for A$8.4 million, becoming the city's most expensive home sold at auction, The Australian reported. The winning bid was 52.7% above the opening price of A$5.5 million.

* Frasers Property Australia Pty Ltd. has secured Puma as a tenant of its 14,110-square-meter warehouse on Canterbury Road, Melbourne, The Australian Financial Review reported. The seven-year lease, which also includes 442 square meters of office space and 112 car spaces, will start mid-2020.

* The 1,200-square-meter Broadway shopping strip in Rosebud, Victoria, is up for sale, Sydney Morning Herald reported. The property, at 1015-1021 Point Nepean Rd., is being sold through CBRE.

Now Featured on S&P Global Market Intelligence

India's REIT market will look like Japan's in a few years, investor says

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.

Ian Cruz contributed to this report.