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GLP sets deadline for final bids; Activia secures ¥24B loans

* Global Logistic Properties Ltd. called on shortlisted bidders to submit their final proposals by June 30 as the strategic review of the company continues.

* Activia Properties Inc. entered into agreements for ¥24 billion of loans with four banks, split equally between a commitment line and a non-committed credit line.

Southeast Asia

* CEO Martin Phillips said Singapore's real estate sector needs to incorporate modern technology into outdated business methods to ensure the industry will continue thriving. The sentiment that the real estate sector is being left behind is shared by the Urban Land Institute, as reported by The Edge Property Malaysia.

* Mapletree Industrial Trust agreed to sell 65 Tech Park Crescent in Singapore for about S$17.7 million, a transaction expected to close in the third quarter, according to a filing.

* Megaworld Corp. will start the development of its 10-year Capital Town project in Pampanga, Philippines, within 2017. The company is investing 30 billion Philippine pesos in the 35.6-hectare development designed to become a new central business district.

* Fitch affirmed its BB- long-term foreign-currency issuer default rating for PT Pakuwon Jati Tbk, citing the company's strong investment property portfolio and improving property demand, among other factors. The rating agency also revised its outlook for Pakuwon to positive from stable.


* The Steller Group's joint venture with Chinese conglomerate Great Aim Group is developing at least three residential sites in Melbourne, The Australian Financial Review reported. The projects with a collective worth estimated at A$300 million will deliver about 250 apartments upon completion.

Back in 2016, Steller received around A$70 million from an unidentified Asian investor for an apartment development project in the same Australian city worth approximately A$800 million.

* Stockland is investing A$200,000 in a plan to roll out Tesla Destination Chargers in 31 of its shopping centers, The Sydney Morning Herald reported.

* Figures released by STR for Sydney hotels showed "significant performance growth" in May, compared to May 2016. There was a 3.4% increase in supply and a 5.9% rise in demand, while revenue per available room, average daily rate and occupancy increased 10.5%, 7.9% and 2.4%, respectively, in the comparable period.

* According to CoreLogic, historical data show housing values in Australian capital cities could decrease by as much as 10%, The Australian reported. The property research group also said the market in the country could remain inactive for up to five years.

Hong Kong and China

* China Evergrande Group is offering to exchange four standing series of senior unsecured notes with three new U.S. dollar-denominated senior notes due 2021, 2023 and 2025. S&P Global Ratings assigned the offerings a B- long-term issuer rating and cnB+ long-term Greater China regional scale rating.

* A CIFI Holdings (Group) Co. Ltd. unit paid HK$664.5 million for a 50% stake in a joint venture developing a residential-commercial project in Kowloon, Hong Kong.

* Moody said its A2 issuer rating and stable outlook for Link Real Estate Investment Trust was supported by the company's robust performance for the fiscal year ended March 31.

* Tsinghua University's National Institute of Financial Research Deputy Director Ning Zhu said it is "a matter of sooner or later" for China to experience a financial crisis or a burst in the real estate bubble. Zhu also said home prices in the country's biggest cities might rise by another 50% or so once property curbs are scaled back.

* Secondary housing sales in Beijing dropped to 10,801 units in May, marking the lowest level in 27 months, Beijing Business Today reported.


* Nippon Prologis REIT Inc. will issue a total of ¥7 billion of investment corporation bonds to prepay June 16 short-term debt of the same amount.

* Nippon Building Fund Inc. said it will refinance ¥5 billion worth of 0.05%-interest loans due July 12.

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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. Articles and links are correct as of publication time.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.

Cam Nones and Julie Zhu contributed to this report.