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Henderson, Link eye separate legal actions in Hong Kong


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Henderson, Link eye separate legal actions in Hong Kong

* Henderson Land Development Co. Ltd. plans to secure a courtinjunction as its final option to settle a land dispute over its planned redevelopmentof a 5,500-square-foot site in Fan Ling, Hong Kong, The (Hong Kong) Standard reported.

* The publication also reportedthat Link Real Estate Investment Trustfiled a writ for a court injunction in the High Court of Hong Kong on April 27,in an attempt to prevent protests at Lok Fu Plaza and the company's headquartersin Kwun Tong.

* Mitsubishi Estate Co. Ltd. proposed several changes to its workforce structure, includinga transition to a company with a nominating committee from a company with a boardof statutory auditors.

* MTR Corp. Ltd. and the Hong Kong government are partneringfor the construction of 980 houses on Ko Chiu Road, The Standard reported.The site is suitable for building homes, according to an MTR report. The locationis estimated to have around 746,000 square feet of gross floor area.

* In Australia, planning expertsurged the New South Wales' Planning Assessment Commission to reject ' A$2 billion mixed-used, waterfrontproject in Barangaroo, Sydney, The AustralianFinancial Review reported.

The expertsvoiced their opinion during the commission's public hearing for the proposal. Aprivate building as part of the project raised concerns from critics over its location,which would overshadow foreshore parkland, according to Graham Jahn, City of Sydney'sdirector of city planning, development and transport.


* Stockland commenced work on three housing projects in Queensland,which would provide 22,420 new homes over the next two to three decades, The Australian reported.The company also plans to launch land sales over the April 30 weekend at its A$5billion Aura development on the Sunshine Coast.

* Sunland Group Ltd. said the Supreme Court of Queensland ruledin favor of the company over a dispute with Australian businessman . The court ruling dismissed "significantaspects" of Lee's claim for damages worth around A$10 million, according toSunland Managing Director Sahba Abedian.

The Australian reportedthat the dispute was related to a failed real estate transaction.

* Altis Property Partners is sellingthe A$285 million Altis Real Estate Equity Partnership II portfolio, which consistsof industrial and logistics properties, the AFRreported.AMP Capital and Singapore-based Mapletree Investments are reportedly looking toacquire the portfolio's assets in separate deals, according to the publication.

* Home price growth inched up 1.5%in April, a higher growth compared with the 0.2% aggregate increase in March, theAFR reported,citing CoreLogic data.


* China Resources Land Ltd. scheduled an annual general meetingfor June 3 to discuss the declaration of a final dividend, among other resolutions.

* Hang Lung Properties Ltd. Chairman Ronnie Chan Kai-chung is "pessimistic" overthe short-term performance of Hong Kong and China's retail markets, The Standard reported.The markets are expected to rebound, but not in the "foreseeable future,"according to Chan.

* Sino-Ocean Land Holdings Ltd.'s revenue amounted to 27.27billion Chinese yuan for the year ended Dec. 31, 2015, down from 33.30 billion yuanin full year 2014. Net profit after taxation also dropped to 4.23 billion yuan fromaround 4.54 billion yuan in the same comparable period.

* China's introduction of to replace existing businesstaxes will help the property sector save around 15% of tax payment, according toa report from China International Capital Corp., the Securities Daily wrote.


* The Ministry ofLand, Infrastructure, Transport and Tourism said housing starts nationwide increased4.6% year over year to 920,537 in fiscal 2015 ended March 31, The Sankei Shimbun reported.

* According to AtHome Co. Ltd., existing detached house prices in the Tokyo capital region increased4.1% year over year to ¥33.57 million in March for a fifth consecutive monthly rise,Jutaku-Shimpo-Sha reported.


* Cambridge Industrial Trust trustee RBC Investor ServicesTrust Services Singapore Ltd. pricedthe issuance of S$50.0 million notes due 2023 with a fixed annual interest rateof 3.95%. The series 005 notes are part of a S$750.0 million multicurrency debtissuance program. The notes are expected to be issued May 9.

* The respective price and rentalindexes for the industrial real estate sector dropped 2.5% and 2.7% in the firstquarter of 2016 compared with the previous three-month period in 2015, The (Singapore) Business Times reported,citing JTC statistics. Occupancy rates also fell 0.5% over the same comparable period.

* For condominium units and apartments,resale prices dropped 1% in March compared with the prior month, The Business Times reported,citing data from the National University of Singapore's Singapore Residential PriceIndex.


* DLF Ltd. 's research on the spending power of Noida residentsinfluenced it to find a strategic site for its Mall of India property, as location is a key part of developinga potentially profitable mall, DLF Executive Vice President Pushpa Bector toldBusiness Insider India?.

* The Confederation of Real EstateDevelopers' Associations of India's Getamber Anand responded to Reserve Bank ofIndia Governor Raghuram Rajan's requestto lower prices for projects, saying there is "no further scope" for additionalprice cuts, The Economic Times of Indiareported.


* SM Prime Holdings Inc.'s 57th mall in the country will bein Bulacan, the SM City San Jose Del Monte, according to a release. The 101,000-square-metermall is also SM Prime's third retail property in the province.

Now featured

: The April 29 edition of the Asia-Pacificproperty news recap also features Wheelock & Co. receiving interest from atleast five mainland Chinese and offshore financial institutions to acquire its unfinishedbuilding in Hung Hom, Hong Kong, with the offers reaching around HK$5 billion.

: After a two-day meeting, the BOJ said it willcontinue to expand the monetary base by ¥80 trillion each year through governmentbond purchases.

The Daily Dose Asia-Pacific, RealEstate edition is updated by 6:30 a.m. Hong Kong time. Some external links may requirea subscription. Articles and links are correct as of publication time.

The Daily Dose Asia-Pacific, RealEstate edition will not be published Monday, May 2. We will resume publication Tuesday,May 3.