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China Vanke partner exits 5.6B-yuan JV; S$2.1B Singapore en bloc relaunched

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China Vanke partner exits 5.6B-yuan JV; S$2.1B Singapore en bloc relaunched

* Overseas Chinese Town Enterprises Co. is selling its 50% stake in a China Vanke Co. Ltd. joint venture, which had 5.65 billion yuan of assets as of end-June, Guandian reported.

* The public tender of Singapore's largest private residential site has been relaunched, after failing to attract a single bid in its previous attempt in May, The (Singapore) Business Times reported, citing marketing agent Colliers International Group Inc. The reserve price for the Braddell View property, which includes 918 residential units and two commercial shops, remains at S$2.08 billion. The public tender will close Sept. 25.

India

* Allianz Real Estate has committed to invest US$150 million in Godrej Group-managed closed-end office development platform Godrej BTC, which targets Grade-A office space in first-tier cities across India.

Hong Kong and China

* Greenland Hong Kong Holdings Ltd. forecasts at least 90% year-over-year growth in its first-half consolidated net profit due to improved gross profit margin.

* CK Asset Holdings Ltd. has delayed its residential development along Borrett Road in Hong Kong amid the current political situation in the city, Ming Pao reported. However, the property company will launch its Sham Shui Po project as scheduled, as it expects lower-end housing might be less affected by local unrest.

* GDS Holdings Ltd. and GIC Pte. Ltd. have signed an agreement to jointly develop and operate hyperscale build-to-suit data centers outside of China's first-tier cities. The Chinese data center company will set up project companies and build the data centers, and will sell 90% of those project companies to Singapore's sovereign wealth fund upon completion.

* Yuexiu Property Co. Ltd.'s Guangzhou City Construction & Development Co. Ltd. subsidiary plans to issue up to 3.00 billion yuan of notes in a private placement in China.

* WeWork Cos Inc. commenced its lease on 60,000 square feet of office space at Hopewell Center in Wan Chai, Hong Kong, the Hong Kong Economic Times reported. The coworking space operator is renting the space at a monthly rate of HK$45 per square foot.

Japan

* Mirai Corp. unit holders will meet Sept. 10 to vote on the property company's plan to acquire Sakura Sogo REIT Investment Corp. The merger of the two real estate investment trusts is expected to create an entity that will manage 47 properties worth a total of ¥200.71 billion.

* Mitsubishi UFJ Financial Group Inc. sold a portion of its REIT lending portfolio to the National Pension Fund after securitizing the assets, Tokyo's The Nikkei reported.

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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. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Aries Poon, Emily Lai and Jaekwon Lim contributed to this report.