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WeWork eyes Allianz as tenant in Sydney; Keppel Corp. to issue S$200M notes

* WeWork Companies Inc. has likely secured Allianz as a tenant for its Barangaroo office building, The Australian Financial Review reported. Allianz needs an office in the interim as the construction of its new Sydney offices is running months behind its original schedule of October 2020.

Greater China

* Greentown China Holdings Ltd. formed a joint venture to develop commercial and residential properties above stations along Harbin Metro Line 3 in northeastern China. Greentown China owns 46% of the venture and will invest 20.7 million yuan as initial capital.

* A 226,000-square-meter site zoned for hotel and exhibition purposes near the Hong Kong-Zhuhai-Macau Bridge will be accepting bids Oct. 9 to Oct. 18, South China Morning Post reported, citing the government of the southern Chinese city of Zhuhai. The opening price of the site will be 5.64 billion yuan, or 5,828 yuan per square meter.

* SOCAM Development Ltd. has shelved a plan to issue U.S. dollar senior notes, citing unfavorable market sentiment. The developer and investor of properties in China and Hong Kong said earlier that it appointed UBS to arrange the bond offering to refinance its debt.

Singapore

* Keppel Corp. Ltd. will issue S$200 million of 3.00% notes due 2026 on or about Oct. 1. The net proceeds from the issuance will be used for general corporate or working capital purposes.

* Frasers Property Treasury Pte. Ltd. redeemed S$600 million of subordinated perpetual bonds issued in September 2014.

* A Yanlord Land Group Ltd. unit has set up two wholly owned subsidiaries in Shanghai, China. Each of Shanghai Renlan Industrial Co. and Shanghai Renzhuo Industrial Co. has a registered capital of 10 million yuan.

Australia

* Shimao Property Holdings Ltd. may consider a joint purchase with B1 Group of a 1,600-unit residential project on the Gold Coast from Ralan Group Pty. Ltd., which has been under voluntary administration since July 30, the Sydney developer told The Australian Financial Review. The Chinese developer may make a decision after due diligence.

* Coles Group sold two neighborhood shopping centers in New South Wales for A$44 million, The Sydney Morning Herald reported. One of the properties, Willowdale Shopping Centre, was sold for A$34.8 million at a yield of 5.62%.

Japan

* Japan Real Estate Investment Corp. secured a five-year loan of ¥5.50 billion from Sumitomo Mitsui Trust Bank to repay existing debt.

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.