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Sino Land unit outbids 16 developers for Hong Kong site; new A$300M Melbourne tower in the offing


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Sino Land unit outbids 16 developers for Hong Kong site; new A$300M Melbourne tower in the offing

This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies andhighlights larger deal coverage already published.


* Hong Kong's Lands Department awardedthe tender for a residential site in Tai Po, New Territories, to 's Best WisdomDevelopment Ltd. for a winning bid of HK$1.62 billion. The property has a sitearea of about 10,646 square meters. Its gross floor area spans between 22,995square meters and 38,325 square meters.

Otherbidders for the site comprised 16 subsidiaries, including units of , Sun Hung KaiProperties Ltd., FarEast Consortium International Ltd., K. Wah International Holdings Ltd., andNew World Development Co.Ltd.

* Sales at 's Harbour Cityand Times Square shopping malls in Hong Kong have become stable, following adecline between January and March, The(Hong Kong) Standard reported,citing Wharf Executive Director Leng Yen-thean.

Meanwhile,Henderson Land Development Co.Ltd. plans to sell more residential units by putting up to 750flats on the market from its Ho Man Tin and Sheung Shui projects within thesecond half, accordingto the publication.


* 's discussionswith ANZ Bank for a large tenancy agreement in Melbourne's Docklands areexpected to pave the way for a A$300 million commercial building project forthe developer, The Australian FinancialReview reported.

* it bought the remaining 50%interest in Bentons Square in Melbourne for around A$38.3 million. The companyagreed to acquire aninitial 50% interest in the property in August 2014 for the same price. Itexpects to settle the deal on or before Aug. 15. Vicinity also settled the A$85million sale of the IndooroopillyCentral in Queensland on June 30.

* andHawaiian Investments hope to sell the Carillon City shopping center in thecentral business district for more than A$120 million, the AFR reported.


* completed the S$160million sale of itsentire equity interest in Ascendas ZPark (Singapore) Pte. Ltd. to Cova BeijingZPark Investment Ltd. on July 11. Ascendas ZPark indirectly owns the AscendasZ-link business park in Beijing.

* bought anestimated 76,792-square-meter land parcel in Hangzhou City, Zhejiang province,for 986.0 million Chinese yuan through an open bid by a subsidiary, accordingto a filing.

* unitGuangzhou Xuling Property Development Co. Ltd. to buy the entire equityinterests of Foshan Huaxiang Property Development Co. Ltd. and Foshan HuijinHengtian Property Development Co. Ltd. for around 522.3 million yuan. FoshanHuaxiang and Foshan Huijin are two project companies involved in thedevelopment of two sites in Foshan, China.

* completed thedisposal of its unit on July 8, related to the latter's failure to meet theconditions regarding a loandeal. The company said the syndicated loan's entire outstandingbalance, plus accrued interests, have been fully repaid as of July 10.


said that itsshareholders approved the company's proposed acquisition of the remaininginterest that it does not own in the CapitaGreen building, a deal that isvalued at aroundS$393.0 million.


* and agreed on a first partnership deal for the delivery of the 314-room Holiday InnOsaka Namba hotel in Osaka by year-end, according to a .

Holiday Inn Osaka Namba in Osaka, Japan

Source: InterContinental Hotels Group

* and FourSeasons Hotels and Resorts will open a hotel in Chiyoda-ku, Tokyo, in spring2020, according to a release.


anticipatesinvestors to show interest in the company's sale of up to 10,000 rai of land inRayong, Thailand, Bangkok Post reported,citing WHA CEO and Vice Chairman Jareeporn Jarukornsakul. The company expectsstrong demand for the sale as the province will be part of the Eastern EconomicCorridor project.


expanded itspresence in south India with the opening of the Grand Mercure Mysuru, accordingto a release.


: Japan Hotel REIT plans to acquire the Hotel VistaGrande Osaka, Hilton Nagoya and Hotel Ascent Fukuoka properties.

: The developer will shoulder 3.89 billionChinese yuan from the 12.87 billion yuan plan to acquire 96.55% equityinterests in commercial property companies held by the Blackstone affiliates.

: The contracted sales in June amounted to about 12.7 billionChinese yuan.

: The development will be leased to anotherstrategic partner, Quest Apartment Hotels.

: The plan involves the redevelopment of anestimated four-hectare site, which houses an office building, commercialfacilities and a hotel, among other properties.

: The company seeks to gain clearance from the Supreme Court ofIndia to sell three overseas hotels to Qatar Investment Authority, The Times of India reported.

: New Western Holdings agreed to a final stake syndicationin GLP US Income Partners II for US$108.0 million.

: The 5.2-hectare development will include residential,retail and commercial space, The Australian reported.

: The Singapore-listed company said it acquired a 30% stake ina Chinese project company, which bought a site in Suzhou, China, for around 4billion Chinese yuan.

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