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Vanke, Shenzhen to develop senior living project; Ciputra merger gains OK

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Vanke, Shenzhen to develop senior living project; Ciputra merger gains OK

* China Vanke Co. Ltd. secured a contract to build the first-ever public-private partnership senior living community project in Shenzhen, China, in partnership with the local government, the South China Morning Post reported. The property developer will start to redevelop a block of apartments for senior residents in Futian District on Jan. 1, 2017.

* PT Ciputra Property Tbk's shareholders approved the company's proposed merger with PT Ciputra Development Tbk.

Hong Kong and China

* K. Wah International Holdings Ltd. unit Century Basis Ltd. won the tender for a non-industrial site in Kowloon, Hong Kong, at a land premium of approximately HK$5.87 billion, according to the Lands Department.

* Modern Land (China) Co. Ltd. issued another US$150.0 million of 6.875% senior notes due 2019, following its issuance of green bonds worth US$350.0 million in October. The company intends to use the proceeds to refinance certain existing debt.

* Kaisa Group Holdings Ltd. said its contracted sales for November amounted to approximately 2.06 billion Chinese yuan, representing a total contracted gross floor area of approximately 157,091 square meters. As of Dec. 29, the company has restructured approximately 46.50 billion yuan of onshore liabilities, according to a filing.

* Fan Gang, a member of the Chinese central bank's monetary policy committee, believes a property tax will help to control real estate prices in the country and bridge the gap between the wealthy and the poor, Reuters reported, citing Caixin.

* Beijing plans to step up efforts to crack down on housing speculation and ramp up housing supply in 2017, in a bid to ensure that the city's housing prices remain the same as in 2016, China Securities Journal reported, citing Beijing acting Mayor Cai Qi.


* Hong Kong billionaire Tony Fung's Aquis Australia plans to invest A$440 million in the development of a six-star beachside hotel on the Gold Coast in Queensland, The Australian reported. The 48-story hotel at the Pacific Point apartment complex site will have 580 rooms and suites.


* Ascendas Real Estate Investment Trust said Ruby Assets Pte. Ltd.'s issuance of S$300.0 million of 1.60% exchangeable collateralized securities due 2019 had an outstanding amount of approximately S$62.3 million as of Dec. 29. The REIT's issued units reached a total of 2,851,335,332 after issuing 8,811,551 new units, pursuant to the issuance of exchangeable collateralized securities.


* Private equity companies may become more interested in property investments due to the Real Estate Regulatory Act, the demonetization of certain currencies and the Goods and Services Tax, The Economic Times of India reported.

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.

Abdul Rehman Maqbool and Julie Zhu contributed to this report.