* Growthpoint Properties Australia is leading the race for John Holland Group Pty. Ltd.'s A$350 million office complex in Sydney's Macquarie Park suburb, The Australian reported. The property on offer will eventually be leased to the New South Wales government and will form part of a larger A$1 billion precinct.
* U.S.-based LaSalle Investment Management Inc. is looking to buy the property at 323 Castlereagh St. in Sydney for approximately A$325 million, The Australian reported. LaSalle and Knight Frank, which is brokering the off-market deal for the 24-story building, did not comment regarding the potential transaction.
Greater China
* Andy Cheung Lee-ming stepped down as COO and an executive director of Link Real Estate Investment Trust to devote more time to his personal and other priorities. He stepped down from the board Oct. 2 but will continue as COO until Dec. 20 to facilitate a smooth transition, according to a news release.
Southeast Asia
* GuocoLand Ltd. intends to expand its S$2.4 billion Guoco Midtown integrated development by merging an S$800.2 million residential site into the project, Mingtiandi reported. In September, the Singapore-listed developer's joint venture with Intrepid Investments Pte. Ltd. and Hong Realty (Pvt.) Ltd. secured the tender to the additional 11,530.8-square-meter site after outbidding one other tenderer.
* Malaysian property company Sunway REIT is aiming to grow its property value to 15 billion ringgit by the year ending June 30, 2025, from 8.05 billion ringgit currently as part of its Transcend 2025 initiative, The (Malaysia) Star reported, citing CEO Jeffrey Ng Tiong Lip. To achieve its target, the company will implement various strategies including geographical diversification within and outside of Malaysia.
* On Oct. 4, Filipino developer SM Prime Holdings Inc. will open its third lifestyle mall in the province of Pangasinan in the Philippines. The soon-to-be-unveiled SM Center Dagupan has a gross floor area of 23,000 square meters and will be home to tenants including SM Hypermarket, SM Appliance Center, Ace Hardware, Watsons, Surplus, Miniso, and Simply Shoes.
* The Philippine Competition Commission ordered 8990 Holdings Inc. and Urban Deca Homes Manila Condominium Corp. to pay fines totaling more than 27 million pesos in connection with complaints received from tenants of the Urban Deca Homes Manila condominium, the Philippine Daily Inquirer reported. The tenants claimed the companies abused their dominance when they entered into an agreement with an exclusive internet service provider.
India
* DLF Ltd. said it fully settled the payment of 87.00 billion rupees to DLF Cyber City Developers Ltd. through the transfer of its interests in DLF Info Park Developers (Chennai) Ltd., Nambi Buildwell Ltd. and Fairleaf Real Estate Pvt. Ltd. DLF Cyber City is a joint venture between the Indian developer and Singapore's sovereign wealth fund, GIC Pte. Ltd.
Australia
* Sydney developer Billbergia Group Pty. Ltd. secured a A$100 million mezzanine loan from Metrics Credit Partners Pty. Ltd. for its 668-apartment Rhodes Central development in Sydney, The Australian Financial Review reported. The company is expected to spend A$340 million to develop the residential-led integrated project at 6-14 Walker St.
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