* The Chinese real estatemarket is going through the "biggest bubble in history," Dalian WandaGroup Co. Ltd. Chairman Wang Jianlin toldCNNMoney in an interview. Wang said that continually increasing prices in majorcities and falling prices in lower-tier cities pose as a major issue.
Therichest man in China also believes that there is no "good solution"for the problem, as the government's efforts have remained futile in addressingit. For this reason, Dalian Wanda Group has limited its exposure in the property market, optinginstead to explore opportunities in entertainmentand cultural tourismprojects.
* plans to issue20.00 billion Chinese yuan of debt financing instruments. The company said thatthe National Association of Financial Market Institutional Investors in Chinaapproved the proposal.
* The bidding for promoters' 40% stake inDLF Cyber City Developers Ltd. is nearing conclusion, with GIC and emerging asthe top two contenders, the BusinessStandard of India reported,citing unnamed sources familiar with the matter.
DLFpromoters expect to sell the stake for around 130.00 billion Indian rupees.Sources said the difference between the Singaporean wealth fund and U.S.private equity firm's bids amounted to 5.00 billion rupees, with a cap ratedifference of 0.2%.
* CEO Peter Allen talkedabout the company's plans to roll out changes at Westfield malls that willfocus on personalization and modernization. Some of the new features includeticketless car parking and marketplace set-ups, The Australian reported.
Allenalso reportedly said that almost one-third of its tenants did not renew theirleases due to Scentre's pursuit of changes at its properties and being unableto afford the rent.
* is in poleposition to acquire the Carillon City mall for almost A$140 million, The Australian Financial Review reported.The more than 10,000-square-meter shopping center in the central businessdistrict of Perth is among the biggest malls in the area.
* Walker Corp. plans to builda A$440 million tower as the last component of its A$2.5 billion project inMelbourne, the AFR reported.The company will break ground on the project before Dec. 25 after it securedTransurban as an anchor tenant.
* Fini Group and AAIG unveiledthe blueprint for their proposed plan for a A$500 million development that willhave hotel, residential and office components in Elizabeth Quay, Perth, The Australian reported.The duo acquired two land plots for the project through a MetropolitanRedevelopment Authority tender for A$85 million. The mixed-use project willinvolve two buildings with around 300 residential units, 170 short-stayapartments and a hotel, among others.
* Moody's maintains a stableoutlook on the A-REIT sector amid an expansion in Australia's domestic GDP,which continues to boost modest retail spending and growth in white-collar jobs.
HONG KONG AND CHINA
* intends tosell 57 Lime Gala apartments on Oct. 1 in Shau Kei Wan, Hong Kong, whileHenderson Land Development Co.Ltd. unveiled the Park One housing project, which will have 129units in Cheung Sha Wan, The (HongKong) Standard reported.
* A 235,182-square-foot luxurysite in at Beacon Hill in Kowloon Tong, Hong Kong, could fetch for up to HK$7.2billion by the closing of bids on Sept. 30, as competition among developers inChina and Hong Kong is likely to jack up the price, the South China Morning Post reported.
Executive Director Justin Chiu Kwok-hung said the company willbid for the site, according to the report.
* Hong Kong Secretary forDevelopment Paul Chan Mo-po said seven residential sites will provide 4,600houses, which will help the government meet its target of delivering 18,000 newflats in 2016, The Standard reported.The government plans to launch the sites in the last quarter, according to Chan.
* Chinese property developershave played a big role in pushing up housing prices to exorbitantly high levels,Xinhua News Agency reported.
* Singaporean companyAscendas-Singbridge's expects to invest in hotel developments in the countrythrough Ascendas HospitalityTrust, as part of a continued push in overseas expansion, the Nikkei Asian Review reported,citing Manohar Khiatani, Ascendas-Singbridge deputy group CEO.
* Subsidiaries of andMitsui Fudosan Co.Ltd. will redevelop a 38,000-square-meter property in Hiroshima.Tokyo's The Nikkei reportedthat the former Hiroshima University site will be converted into a 54-floor,655-unit condominium tower.
* The NationalUniversity of Singapore's Overall Singapore Residential Price Index showed thatprices for private apartments and condominiums dropped 0.6% in August monthover month, The (Singapore) Business Times reported.
* The current shortage ofdeveloped industrial properties in country provides the sector with brightinvestment prospects, The Manila Timesreported,citing Pronove Tai International Property Consultants CEO MoniqueCornelio-Pronove.
Now featured on S&PGlobal Market Intelligence
: Charter Hall Group's October listing plans for anoffice-focused REIT in Australia and three proposed Indian property IPOs madenews during the week.
: Shifting demographics havecreated a rising gap between German housing supply and demand, creating newopportunities for investors in the micro-living segment.
: Recentdata showed the U.S. housing market remained on generally solid ground inAugust, albeit with new- and existing-home sales and housing starts decliningfrom their July readings.
: US REITs have raised the mostcapital via senior debt offerings year-to-date through Sept. 15.
The Daily Dose Asia-Pacific, RealEstate edition is updated by 6:30 a.m. Hong Kong time. Some external links mayrequire a subscription. Articles and links are correct as of publication time.
Cam Nones, John Chan andJulie Zhu contributed to this report.