* A China Vanke Co. Ltd. unit agreed to buy one of Shui On Land Ltd.'s assets in Chongqing, China, for 4.13 billion yuan, subject to adjustment upon completion, according to a filing. The deal will be carried out through the sale of a 79.2% equity stake in Chongqing Shui On Tiandi Real Estate Development Co. Ltd., which develops the mixed-use project.
* MTR Corp. Ltd. awarded the tender for a residential site in Yuen Long, Hong Kong, to a consortium of three property developers that submitted an upfront payment of HK$8.33 billion, the South China Morning Post reported.
China Overseas Land & Investment Ltd., Sino Land Co. Ltd. and K. Wah International Holdings Ltd.'s Grand Ample won the bid for the Kam Sheung Road station project's first phase.
Hong Kong and China
* S&P Global Ratings affirmed its A- long-term corporate credit rating on Swire Pacific Ltd. with a negative outlook.
The rating agency also affirmed Agile Group Holdings Ltd.'s BB- long-term corporate credit rating and revised the outlook on the company to positive from stable.
* Shareholders of SOHO China Ltd. approved the company's proposed special dividend of 34.6 Chinese fen per ordinary share for 2016, which will be paid to eligible shareholders on or about June 15.
* The risk of a property bubble forming in third- and fourth-tier cities in mainland China are increasingly becoming more evident, as ordinary citizens turn their attention to buying properties from big cities to remote areas, Bloomberg News reported.
* APN Property Group is targeting to list its Convenience Retail REIT on the Australian bourse in July instead of December, The Australian Financial Review's Street Talk reported, citing unnamed sources.
The real estate investment trust will have about A$300 million in assets, and will target to raise A$100 million to A$150 million for a A$200 million market capitalization, according to the report.
* Marriott International opened its first Aloft-brand hotel in Perth, its fourth property in the country, the AFR reported. According to Sean Hunt, Marriott International vice president for Australia, New Zealand and the Pacific, the company plans to double its presence in the region by 2022. Hunt added that there will be "quite a few" announcements from the company before 2017-end, as Marriott pursues deals in every state.
* According to the Ministry of Land, Infrastructure, Transport and Tourism's 2017 white paper on land, abandoned vacant lots nationwide doubled over the past 10 years in line with population declines, The Yomiuri Shimbun reported.
* Market indicators show that shared office spaces are poised to become a new asset class in Singapore's real estate sector due to increasing competition and continual growth, The (Singapore) Business Times reported.
* A Pinnacle Research report said demand for residential and hotel properties in the Philippines remained stable in the first quarter, as opposed to the office market where supply was tight amid a huge level of demand, The Manila Times reported.
* Indian Hotels Co. Ltd. CEO Rakesh Sarna resigned from his post and as managing director of the company at the completion of his three-year tenure. Sarna, who stepped down due to personal reasons, however, agreed to stay until Sept. 30.
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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.
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Rollen Catorce and Jaekwon Lim contributed to this report.