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Mapletree signs ¥61B Japan deal; Evergrande FY'17 profit up 110% YOY

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Six trends shaping the industries and sectors we cover in 2021

Six trends shaping the industries and sectors we cover in 2021

Capital Markets View – January 2021


Mapletree signs ¥61B Japan deal; Evergrande FY'17 profit up 110% YOY

S&P Global Market Intelligence offers our top picks of Asia-Pacific real estate news stories and more published throughout the week. Please note that some entries may have links to third-party sources that may require a subscription.

Property fest

* Mapletree Greater China Commercial Trust agreed to buy six office properties in Japan for nearly ¥60.93 billion. The Singapore real estate investment trust has added Japan to its investment mandate, which also includes Hong Kong and China.

* CEFC China Energy Co. Ltd. is tipped to be planning to sell its 20 billion-yuan-plus portfolio of global real estate assets, as it faces pressure from the Chinese government to curb overseas investments and excess debt. The assets are mainly in China, with some in Europe and the U.S.

* Just a week after a record was made in Singapore's residential market, another one is brewing. This time, a completed sale could be the biggest ever in the city-state, as the owners of the Mandarin Gardens condominium are considering attaching a S$2.48 billion price tag on the estate, almost doubling the record high of S$1.34 billion.

* Blackstone was an active buyer and seller this week. On the buy side, it received the green light from Indiabulls Real Estate Ltd. shareholders for its US$1.46 billion plan to buy stakes in three Indiabulls subsidiaries. On the other hand, the private equity giant shortlisted six bidders for a more than A$800 million stake in a Sydney tower and is believed to be progressing with its plan to sell two IT parks in Pune, India. Blackstone also sold its 80 Grenfell St. office property in Adelaide, Australia, to Centuria Capital Group for about A$190 million.

Investor hunting

* March 26 marked the first day for Indian hotel operator Lemon Tree Hotels Ltd.'s IPO in India. A 25% subscription rate was logged during the day, and the IPO of 185,479,400 equity shares priced at 54 rupees to 56 rupees apiece is expected to close March 28. The midpriced hotel chain operator will be listed on the National Stock Exchange of India Ltd. and the Bombay Stock Exchange.

* The Singapore stock exchange on March 28 welcomed Chinese outlet mall operator Sasseur Real Estate Investment Trust to its roster of listed REITs. The company raised S$396.0 million from the offering.

* According to Cushman & Wakefield, Chinese investment in U.S. real estate declined 55% year over year in 2017 to US$7.3 billion, attributed to Beijing's new capital controls, among others.

Money in the basket

* Four major Chinese developers reported their full-year 2017 earnings this week, with China Evergrande Group leading the pack with net profit clocking in at 37.05 billion yuan, an increase of 110.3% on the year.

* China Overseas Land & Investment Ltd.'s profit attributable to owners of the company for the period rose 10.1% to about HK$40.77 billion.

* China Vanke Co. Ltd., meanwhile, recorded 2017 full-year net profit attributable to equity shareholders at 28.05 billion yuan, which is 33.4% higher than the 21.02 billion recorded in 2016.

* Sunac China Holdings Ltd.'s comprehensive income attributable to the owners of the company for the full year ended Dec. 31, 2017, surged 344.0% year over year to 11.00 billion yuan from roughly 2.48 billion yuan in the prior-year period.

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Conference Chatter: Hotel investors set sights on Southeast Asia

Rollen Catorce and Anusha Iyer contributed to this report.

As of March 28, US$1 was equivalent to 6.30 yuan.