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Lianjia loses Tencent, Sunac as investors; China Vanke, Longfor log FY'18 profit

* Beijing Homelink Real Estate Brokerage Co. Ltd. parted ways with 22 investors including Tencent Holdings Ltd., Sunac China Holdings Ltd., China Vanke Co. Ltd., Baidu Inc. and New Hope Group Co. Ltd. as it prepares for the listing of a subsidiary, Caixin Global reported, citing Tianyancha data. The former investors' stakes in the Chinese real estate agency also known as Lianjia were transferred to online real estate brokerage Beike Zhaofang, which secured US$800 million from Tencent-led investors, according to unnamed sources cited by the news agency.

* China Vanke's net profit attributable to equity shareholders of the company for the year ended Dec. 31, 2018, increased 20.39% on an annual basis to 33.77 billion yuan from 28.05 billion yuan. The Hong Kong-listed developer's results were approved by the board during a March 25 meeting along with other resolutions including the property company's plan to establish an environmental, social and governance working unit.

* The profit attributable to owners of the company of Longfor Group Holdings Ltd. also grew year over year by 28.9% in 2018 to 16.24 billion yuan from 12.60 billion yuan. Revenue jumped 60.7% during the comparable period, while total attributable comprehensive income rose to about 20.63 billion yuan from 16.17 billion yuan.

Hong Kong and China

* Zhong An Real Estate Ltd. is proposing to change its name to Zhong An Group Ltd. to demonstrate the company's ongoing expansion into other business sectors. The plan is subject to various conditions including the approval of the company's shareholders at the annual general meeting.

* Tahoe Group Co. Ltd. assured investors that it would be able to repay the principal amount and accrued interest of its 3 billion-yuan bond issuance callable March 28, Mingtiandi reported, citing a filing on the Shenzhen stock exchange. Earlier, the company was reported to be planning to sell 40 billion yuan worth of developments across China amid concerns of a possible default on debt payments.

* Joy City Property Ltd.'s Fortune Set Ltd. subsidiary obtained an up to HK$1.20 billion term loan and a treasury credit line of up to HK$300.0 million from an unnamed bank. The validity of the facilities is subject to Cofco Corp. remaining as the single largest shareholder of the developer.

* Henderson Land Development Co. Ltd. on March 29 will introduce 56 extra units at its The Vantage project in Kowloon, Hong Kong, with an 18% price increment, Apple Daily reported. The apartments, ranging from 189 to 276 square feet, are priced from about HK$4.3 million to HK$6.9 million.

* The Government Property Agency in Hong Kong gave the green light to launch four vacant land parcels to the market after reviewing the usage of 85 land plots owned by the government, Hong Kong Economic Times reported. The largest parcel, in Tai Hang in Hong Kong Island and valued from HK$1.93 billion to HK$2.32 billion, can be developed into 129,000 square feet of residential land.


* AEW Capital Management Inc. is in discussions to acquire A$400 million of the approximately A$1 billion real estate portfolio being offered by financial services company Challenger, The Australian reported. Believed to be included in the deal are the 22-level 31 Queen Street in Melbourne and the 13-level Mackinson House in Brisbane.

* Charter Hall Education Trust will conduct a fully underwritten institutional placement of new units to raise approximately A$100 million for its planned A$75.5 million acquisition of 13 early learning centers. Units comprising the institutional placement are priced at A$3.35 apiece, according to a news release.


* DLF Ltd. is seeking to raise 30.00 billion rupees through its recently launched qualified institutional placement, Mint (New Delhi) reported. The company is planning to sell 173 million shares, with the floor price fixed at 193.01 rupees per equity share.


* Permaju Industries Bhd.'s 70%-owned subsidiary, Hardie Development Sdn. Bhd., agreed to co-develop the remaining portion of an integrated development in Kota Kinabalu, Sabah, which has a gross development value of about 1 billion ringgit. The 44.28-hectare Princess Heights project will include residential units, shops, shop-offices, terraced houses, townhouses and a four-story hypermarket.


* MGM Resorts International is partnering with financial services group Orix to bring the first integrated resort in Osaka, The Nikkei Asian Review reported, citing Ed Bowers, MGM Resorts Japan CEO.

* Resorttrust Inc., which operates membership-based resort and hotel chains, will open a new high-end hotel in Gamagori, Aichi Prefecture, Tokyo's The Nikkei reported. The ¥31 billion hotel facing Mikawa Bay in central Japan will house 193 suite rooms.

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.

Rollen Catorce, Emily Lai and Jaekwon Lim contributed to this report.