* Indiabulls Real Estate Ltd. is reportedly buying out Farallon Capital Management LLC in its Indiabulls Properties Investment Trust subsidiary under an approximately US$250 million stake deal. The rumored purchase will give Indiabulls Real Estate full ownership of Indiabulls Properties and allow it to sell the business to Blackstone Group LP, which was earlier reported to be targeting a 49% stake in the office rental vehicle through a US$650 million transaction.
* China Evergrande Group completed its 3.29 billion-yuan purchase from Ying Li International Real Estate Ltd. of the Ying Li International Commercial Centre project in Chongqing, China, which comprises two office towers and a six-story retail mall. The development changed hands after a China Evergrande subsidiary acquired Shiny Profit Enterprises Ltd., the owner of the company that holds the project.
Hong Kong and China
* Sinolink Worldwide Holdings Ltd. is expecting its attributable profit for the year ended Dec. 31, 2017, to reach at least HK$110.0 million. In the year-ago period, the Hong Kong-listed developer recorded attributable loss of HK$245.5 million.
* Wheelock and Co. Ltd. is offering 320 units in its Malibu development in Lohas Park, Hong Kong, at an average price of HK$14,347 per square foot, lower compared to the prices of units in Sun Hung Kai Properties Ltd.'s Wings at Sea project, according to Wheelock Executive Director Ricky Wong Kwong-yiu, The (Hong Kong) Standard reported.
* Pre-sales value of KWG Property Holding Ltd. and its subsidiaries grew 128.1% year over year in February to nearly 4.13 billion yuan, reflecting pre-sales area of approximately 243,000 square meters.
* China Jinmao Holdings Group Ltd. agreed to guarantee its Franshion Brilliant Ltd. subsidiary's plan to issue roughly 1.25 billion yuan in senior notes to net approximately 1.24 billion yuan. The anticipated amount is intended for debt repayment and general corporate purposes, according to a filing.
* A total of 27 land parcels with a combined capacity to yield 15,200 flats will be launched for public tender under the recently unveiled 2018-2019 land sales program of the Hong Kong government, The Standard reported.
* The China Construction Bank signed a framework agreement with Haier Group Corp. to cooperate in businesses related to long-term rental properties. The duo will develop rental property projects and provide related financial services.
* Dalian Wanda Group Co. Ltd.'s commercial property arm, Dalian Wanda Commercial Properties, has changed its name to Dalian Wanda Commercial Management Co. Ltd., to reflect its business strategy, The Paper reported.
Southeast Asia
* Filipino developer SM Prime Holdings Inc. denied that it purchased a seafront property in Pasay City, Philippines, from U.K.-based investment fund Ashmore and its local partner Eric Recto in a transaction worth at least 18 billion Philippine pesos.
* Kuala Lumpur-based UEM Sunrise Bhd. established a 50/50 joint venture with ASX-listed property funds manager BlackWall Ltd. for the planned development of co-working spaces in Malaysia and Singapore that will bear the brand of BlackWall's WOTSO WorkSpace subsidiary.
* Singapore-listed Banyan Tree Holdings Ltd. obtained in-principle approval for the listing of up to 38,628,158 of its shares, which it intends to issue to China Vanke Co. Ltd. subsidiary Alps Investment Ltd., pursuant to the share placement agreement signed in August 2017.
* Mary Chia Holdings Ltd.'s Hotel Culture subsidiary is selling a four-story shophouse development with 84 hotel rooms in Singapore to JL Asia Resources Pte. Ltd. under a S$64.8 million deal, which is tipped to reflect a S$4.8 million gain from the disposal, The (Singapore) Business Times reported.
Australia
* French hotelier AccorHotels agreed to manage for at least 25 years the 257-room Sofitel hotel component of a proposed A$140 million tower in Adelaide, which will be developed by local private builder Palumbo Group starting in May, The Australian reported. Aside from the hotel, the 33-story tower will also feature 70 apartments, according to the report.
* Munich-based fund manager GLL Real Estate Partners GmbH paid A$78 million for the purchase of the property at 157 Walker St. in Sydney, marking its first office asset buy in Australia, IPE Real Assets reported.
The publication, citing an unidentified source, added that the German company also entered into a partnership with Sydney-based company Marprop Pty. Ltd., noting that it is unclear whether the local partner will also invest in the property transaction, settlement of which is slated by the end of March.
* Data released by CoreLogic Inc. showed that housing prices fell 0.1% on average across Australia in February, marking the fifth consecutive month of decrease. Bloomberg News reported that the decline could be an indication that the housing boom in the country has ended as a result of the implementation of various cooling measures.
Japan
* GLP J-REIT completed March 1, as planned, its roughly ¥77.06 billion acquisition of six properties across Japan. Prior to the deal's completion, the industrial real estate investment trust secured loans totaling ¥32.27 billion to partially fund the transaction, among other purposes.
* MCUBS MidCity Investment Corp. also wrapped up its deal to buy four fully leased commercial properties in Tokyo by formally acquiring for an estimated ¥4.21 billion and ¥9.20 billion, respectively, the two remaining assets in the roughly ¥23.21 billion transaction.
* Tokyo Metro Co. Ltd., which operates the subway lines in the capital, is looking to ramp up office building development around its subway stations as part of business diversification, 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. Articles and links are correct as of publication time.
Rollen Catorce, Emily Lai and Jaekwon Lim contributed to this report.
As of March 1, US$1 was equivalent to 6.36 yuan, ¥106.93, 51.83 Philippine pesos and S$1.33.
