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Shanghai United allots A$1B Down Under; CCCC buys former ANZ Bank Building

* Shanghai United Real Estate CEO Yangdong Xu told London's Financial Times in an interview that his company plans to pour at least A$1 billion in Australian real estate over the next 10 years, adding that the amount is "a very conservative prediction."

The executive was also reported as saying the company favors the land Down Under due to its stable market, strong immigration levels and lower political risks, compared to western markets.

* China Communications Construction Co., or CCCC, is purchasing 275 George St. in Sydney for more than A$82 million through Australian construction company John Holland. The Australian Financial Review reported CCCC outbid at least 20 interested buyers for the former ANZ Bank Building, which stands 14 stories tall on an area of 7,357 square meters.


* According to the AFR's Street Talk, Property Exchange Australia Ltd. tapped Highbury Partnership to become its independent adviser to conduct a four-week market review and start preparations for a possible listing of the company.

The company recently raised A$780 million in capital, and it first announced in July 2015 that it is searching for an independent adviser to help with a proposed IPO or trade sale.

* Poly Australia is reserving the 23 flats with price tags under A$800,000 at its Poly Horizon residential development in Sydney for first-home buyers, the AFR reported. The company made the decision in anticipation of a surge in investments from foreigners, ahead of the July 1 effective date for the New South Wales government's imposition of additional stamp duty on foreign buyers.

* Data released by international currency transfer provider OFX, as cited by The Australian, showed that the number of 18- to 30-year-old Australians investing in property overseas grew 23% a year on average from 2011 to 2016.

Hong Kong and China

* Cheung Kong Property Holdings Ltd. is putting on the market June 6 the final batch of units for sale at its Ocean Pride project in Tsuen Wan, Hong Kong, The (Hong Kong) Standard reported.

* Fitch said it expects Nan Fung International Holdings Ltd.'s HK$24.60 billion purchase of a land plot at the Kai Tak area in Hong Kong to have no significant effect in the company's ratings because of Nan Fung's solid financial profile and strong contracted sales inflow.

* Speaking of Kai Tak, K & K Property sold 191 flats out of the 200 on offer before 5 p.m., local time, on June 3 at its Victoria Skye project. The South China Morning Post reported that the sales results indicate that local banks' recent mortgage rate hikes did not deter the public from buying flats in the area.


* Invesco Office J-REIT Inc. entered an interest rate swap agreement with Nomura Securities Co. Ltd. for a ¥7.5 billion loan with a 0.5375% fixed interest rate.

Southeast Asia

* A Fantasia Holdings Group Co. Ltd. unit secured the Lorong 1 Realty Park residential land plot in Singapore after submitting the winning bid of S$75.8 million.

* Robinsons Land Corp. is planning to develop five more hotels in metro Manila, Philippines, under its Go Hotels brand, The Philippine Star reported.

* As planned, Filipino developer Cebu Landmasters Inc. made its debut on the local bourse June 2 at 5 pesos a share, according to The Philippine Star.

Other real estate news

* Westfield Corp. and Uber have formed a partnership to establish specific pick-up and drop-off locations at two Westfield malls in the U.K., Property Week reported. The mall landlord said the agreement is the first in the mall sector and builds on its strategy to bridge the gap between the physical and technological experiences of shoppers.

* China Investment Corp. acquired Blackstone Group LP's pan-European logistics company, Logicor, under a €12.25 billion agreement. The private-equity giant confirmed the sale days after the transaction was floated.

* Mitsui Fudosan Co. Ltd. is said to be one of the real estate companies interested in the U.K.'s growing build-to-rent sector. The company is said to be looking into investing in the sector through joint ventures with other developers.

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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.

Cam Nones contributed to this report.