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Growing on Southeast Asian soil; seeding the funds


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Growing on Southeast Asian soil; seeding the funds

Growing on Southeast Asian soil

* Singaporean property giant CapitaLand Ltd. plans to expand its presence in different sectors of the Vietnam real estate market. The group plans to acquire more sites for residential development in the Southeast Asian country, potentially yielding 2,000 to 2,500 units in 2017. It will also continue to search for investment opportunities in offices, serviced residences and integrated developments.

The company said that Vietnam — where it has S$2.1 billion worth of managed assets including 22 serviced residences, nine residential developments and a prime commercial property — has become one of its key markets, after China and Singapore.

* Logistics company LOGOS, which has exposure in Australia, China and Singapore, has started its expansion plan in Indonesia by acquiring its first site at Pondok Ungu in Bekasi for the development of a three-story logistics facility. The first phase of construction is expected to be completed by the end of 2018.

* Australia's Lendlease Corp. Ltd. is eyeing more urban regeneration projects in Singapore and Kuala Lumpur. It hopes to acquire up to four projects by 2022 in the two markets, bringing its total pipeline for urban development projects in Asia beyond A$15 billion from the current A$6 billion, The (Singapore) Business Times reported, citing Lendlease Asia CEO Tony Lombardo.

Seeding the funds

* Greenland Hong Kong Holdings Ltd. and Kuwait Strategic Investor created a new fund under their joint venture Silk Road Integrated Real Estate Fund GP Ltd. to mainly invest in prime properties in top-tier cities globally, including regions covered by China's One Belt One Road initiative. The partners have committed to invest HK$750 million to HK$1.5 billion in the fund.

* NikkoAM-StraitsTrading Asia Ex-Japan REIT Exchange Traded Fund debuted on the Singapore bourse March 29, making it the world's first listed Asia-focused REIT ETF. The fund is a partnership and jointly launched by Japan's Nikko Asset Management Asia Ltd. and Singapore's The Straits Trading Co. Ltd.

Taking control

* HNA Tourism Group, a unit of the acquisitive HNA Group, has further raised its stake in Rezidor Hotel Group AB to 67.66%. The Chinese group's acquisition of Carlson Hotels Inc. in 2016 triggered its mandatory public offer to buy Rezidor.

* In a bid to further diversify abroad, China's Ping An Insurance (Group) Co. is paying ?¥9 billion through its subsidiary in Japan to increase its stake in local residential developer Ascot Corp. to 73%, Bloomberg News reported.

* Several shortlisted parties have begun to conduct due diligence on Global Logistic Properties Ltd. following a review of nonbinding proposals related to a possible outright sale of the company. Blackstone Group LP and Warburg Pincus are believed to be in the running for the Singaporean logistics giant.

Making a comeback

* After being suspended in March 2015, trading of Kaisa Group Holdings Ltd.'s Hong Kong-listed shares has resumed on the bourse, following the Chinese developer's release of its 2014 to 2016 annual reports.

* The long-overdue IPO of Hotel Lotte Inc. might be revived in 2019, with Lotte Group Chairman Shin Dong-bin saying that the Lotte Group conglomerate will undergo a restructuring.

Tightening the reins

* The Beijing government has tightened rules on individuals acquiring commercial properties in the Chinese capital. The Beijing Municipal Commission of Housing and Urban Rural Development said new commercial projects coming online should only be sold to legally registered enterprises and social organizations, and are prohibited from being turned into residential schemes.

* The Bank of Japan plans to tighten oversight of Japanese financial institutions' lending exposure to the real estate sector, amid an increasingly uncertain global economy, the country's The Mainichi Shimbun reported. The central bank, which is concerned about regional financial institutions' falling profitability due to low interest rates and population declines, will conduct on-site inspections for those facing increased risk from real estate loans.

Seeing numbers

* China Evergrande Group said net profit for the year ended Dec. 31, 2016, amounted to 17.62 billion Chinese yuan, up 1.6% year over year.

* China Vanke Co. Ltd. reported a 16.02% year-over-year increase in net profit attributable to its equity shareholders for 2016 at 21.02 billion yuan.

* China Jinmao Holdings Group Ltd. plans to redeem US$400.0 million of perpetual subordinated convertible securities.

* Megaworld Corp. issued 12 billion Philippine pesos of series B fixed-rate bonds priced at 5.3535% per year due 2024.

* Westfield Corp. priced an offering of US$500 million of 3.150% guaranteed senior fixed-rate notes due April 2022.

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