trending Market Intelligence /marketintelligence/en/news-insights/trending/qkLqWUWfOmQ-rTIK4vG-ow2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

China Vanke executes Blackstone deal; Scentre, GIC team up for A$450M project Down Under

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


China Vanke executes Blackstone deal; Scentre, GIC team up for A$450M project Down Under

* and its partners'limited partnership fund executedits agreement withfunds managed by affiliates of Blackstone Group LP for 96.55% equity interests inproject companies that own commercial properties across Mainland China.

Aspart of the joint venture, China Vanke will contribute around 3.89 billionChinese yuan of the total deal value, which is estimated at 12.87 billion yuan.

* is partnering withSingapore's GIC Real Estate on a A$450 million redevelopment project for theWestfield WhitfordCity in Perth, Australia, TheAustralian reported.The plan involves the addition of an outdoor dining precinct and cinemas at themall. Work is expected to begin by September.

Meanwhile,the publication also reported that Charter Hall Group submitted a development applicationfor the A$150 million revamp of its Raine Square property to become a mixed-use complexworth about A$700 million.

* Talking about Brexit,Mitsubishi Estate Co.Ltd. Director Hiroshi Katayama said that the company does notexpect to record impairment charges from its U.K. properties because its officeproperties in the country are leased for up to 15 years, the Nikkei Asian Review reported.

Thepublication said that the Japanese conglomerate's assets in the U.K. are worthabout ¥164 billion.

* Dutch pension investmentmanagers Bouwinvest and APG plan to invest a combined A$150 million in thedevelopment of student housing properties in Australia and New Zealand througha consortium led by Scape Australia, IPEReal Estate reported.

HONG KONG, CHINA AND TAIWAN

* completedthe issuance of 2.00 billion yuan of domestic corporate bonds as the firsttranche of its 13.00 billion-yuan bond issuance. The notes carry a fixed annual coupon rate of4.85% with a five-year term.

* Hong Kong's Lands Departmentplansto offload a private residential site in Yuen Long through a sale-by-tenderprocess. The property has a site area of about 28,457 square meters.

The (Hong Kong) Standard reportedthat the department is planning to sell the property for the second time. Itwithdrew the public tender for the first sale due to the amount of bids fallingbelow the reserve price. The site is believed to be worth HK$660million.

, Henderson LandDevelopment Co. Ltd., Sun Hung Kai Properties Ltd., and were among 10 bidders for the previous tender, according tothe publication.

* Fitch Ratings said the"strong" recurring EBITDA coverage ratios of commercial landlords inHong Kong will partly help them to endure an up to 30% drop in retail rentalincome and a similar decrease in their investment property value, withoutputting pressure on their credit ratings.

* Office rents for primeproperties in the central business district of Hong Kong rose 0.6% month onmonth in June to HK$107.4 per square foot, the highest since 2008, the South China Morning Post reported,citing a JLL report. Tight vacancy and demand for grade A space contributed tothe increase in rents, according to the report.

* Chinese banks extended 2.93trillion yuan in mortgages in the first half, a 38.9% year-over-year increase,according to Guandian.

* Private equity fund RiantCapital Ltd. and Taiwanese company Grand River Development Ltd. plan to buildthe mixed-use Taipei Sky Tower near the Taipei 101 building in Taipei's Xinyi District, Taipei Times reported.

AUSTRALIA

* agreed on acontract with the West Australian government for the development of the145-hectare Alkimos Central in northern Perth, The Australian reported.The project has room for 1,600 homes.

* IPO hopeful and Goldman Sachs areplanning to establish a new wholesale real estate fund after it acquires fiveAustralian offices, which are part of Denison Funds Management's , IPE Real Estate reported,citing unnamed market sources. Propertylink reached a deal with Denison for analmost A$177 million purchase of office properties in three states, accordingto the sources.

* said the completedexternal valuations for the first half across 10 of its 22 assets showed a 6.6%increase on book values, or an estimated A$116 million, according to a filing.

* Property investment companyBarana Group sold the Samsung office building at 61 Lavender St. in MilsonsPoint, Sydney, to Chinese-backed real estate company Aqualand for A$140million, The Australian Financial Reviewreported.The site has development permission for a 20-level building with 135 apartments.

SINGAPORE

* has filed tolist several debt programs on the Singapore bourse, which will become effectiveat 9 a.m. local time, July 22.

Thenotes comprise the estimated US$259.5million exchangeable bonds and the approximately US$277.5million senior notes both due 2019; the US$610.4million senior notes and US$499.4million senior notes both due 2020; and the US$665.9million senior notes and the estimated US$721.4million senior notes both due 2021.

* 's FCLTreasury Pte. Ltd. issuedUS$200 million of 2.50% notes due 2021 under its S$3.0 billion multicurrencydebt issuance program. Oversea-Chinese Banking Corp. Ltd. is the solelead manager and bookrunner for the notes.

INDIA

* U.S. technology giantHewlett Packard signed a lease for the occupancy of an entire building inBangalore, spanning 450,000 square feet of office space, The Economic Times of India reported,citing Nesara B S, executive director at property developer Concorde Group.

PHILIPPINES

* seeks toissue an additional 10 billion Philippine pesos worth of retail before year-end, The Manila Times reported,citing DoubleDragon Chairman and CEO Edgar Sia.

OTHER REAL ESTATE NEWS

* Chinese property companyY.T. Realty Group snapped up a central London Travelodge building for more than£42 million, the Irish Independent? reported.

Now featured on S&PGlobal Market Intelligence

: PricewaterhouseCoopers'resignation as auditor of embattled mainland developer Kaisa could be anothercase in point highlighting the potential compliance risk inherent in Chinesecompanies listed offshore.

: The July 22edition of Asia-Pacific property news recap also features the property sales ofGPT Group and DEXUS Property in Melbourne and the debut of a UOL Group unit'sPan Pacific brand hotel in Beijing.

The Daily Dose Asia-Pacific,Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external linksmay require a subscription. Articles and links are correct as of publicationtime.

Cam Nones and Spencer Sheehancontributed to this report.