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Thai REIT formed with 6B-baht target; proptech tipped to grow in Asia

* Thai developer Bhiraj Buri Group, through a newly established real estate investment trust, is seeking to raise 6 billion baht to fund mixed-use projects on Bangkok's Sukhumvit Road.

* Asia Pacific attracted 60% or US$4.8 billion of the US$7.8 billion raised by global proptech startups from 2013 to 2017, JLL reported. JLL also expects proptech funding in the region to reach US$4.5 billion in 2020 alone, fueled by more developers incorporating proptech to their business mandates.

In 2016, CapitaLand Ltd. launched C31 Ventures, a venture company with US$74 million earmarked for technology startup investments.

* A survey of 35 investors and developers conducted by Colliers International found that a likely increase in Hong Kong interest rates could trigger a drop in yield and a rise in capital costs, the South China Morning Post reported. The result of the poll also suggested that some investors are now seeing better investment potential in Singapore and Shanghai than in Hong Kong.

Australia and New Zealand

* Mantra Group Ltd. launched The Chen hotel in the Melbourne suburb of Box Hill, The Australian Financial Review reported. The opening marks the first Art Series Hotel launch since The Art Series Hotel Group was purchased in August by the Australian developer for A$52.5 million.

* Precinct Properties New Zealand Ltd. issued NZ$100.0 million of senior secured fixed-rate bonds, with proceeds to be used to repay a portion of its bank loans and for general corporate purposes.

Hong Kong and China

* New World Development Co. Ltd.'s proposed final dividend of 33 Hong Kong cents per share for the financial year ended June 30 secured approval. Shareholders on record of the company as at Nov. 24 will receive the distribution.

* Bloomberg News takes a look at the world's most expensive housing market, Hong Kong, with analysts reported as saying that there are no signs of the market cooling anytime soon. Savills Plc's Raymond Ho said more record sales will be made, while Colliers International Group Inc. is predicting an 8% to 10% climb and Knight Frank LLP is expecting a 5% increase in the city's mass-market home prices for 2018.

Southeast Asia

* Oxley Holdings Ltd. confirmed that it is in discussions with a Deka Immobilien-managed fund to purchase a 32-story office and retail building in Singapore's financial district. The property will reportedly be sold for roughly S$660 million.

* The Philippines' Securities and Exchange Commission green lit Puregold Price Club Inc.'s proposed merger with three supermarket companies owned by Puregold's 50/50 joint venture with Ayala Land Inc., Deal Street Asia reported.

Japan

* A syndicate of banks agreed to lend Japan Excellent Inc. a combined ¥12.0 billion for the refinancing of the company's existing loans of the same amount set to expire Nov. 30.

India

* Carlson Rezidor Hotel Group has secured deals for 12 new hotels in India in 2017, The Economic Times of India reported, bringing its portfolio in the country located in 60 Indian cities with 140 hotels in operation.

* Japanese clothing company Uniqlo is on the hunt for sites in India where it could open stores as soon as 2018, the Nikkei Asian Review reported. Uniqlo's operator, Fast Retailing, has applied with India's Ministry of Commerce and Industry to conduct business in India under the brand.

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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 contributed to this report.

As of Nov. 27, US$1 was equivalent to ¥111.09, NZ$1.45, S$1.35 and 32.63 Thai baht.