* The New South Wales state government in Australia selected a consortium made up of Oxford Properties Group Inc., Grocon Pty. Ltd. and CPB Contractors Pty. Ltd. to develop an office and build-to-rent residential project atop the new Pitt Street Metro Station in Sydney, IPE Real Assets reported. The development at 252 Pitt St. will have 65,000 square meters of space and will include a 39-story office tower, a retail plaza and a 39-story build-to-rent apartment building.
* 360 Capital Group said it secured in-principle approval for its proposed listing of 360 Capital Digital Infrastructure Fund on the Australian stock exchange. The fund, with an initial soft-close target of US$250 million, is expected to be listed on the bourse on a deferred settlement basis on Oct. 22, subject to the offering's completion.
Greater China
* Henderson Land Development Co. Ltd. completed the consolidation of its ownership in five old buildings on Whampoa Street in the Hung Hom area of Kowloon, Hong Kong, for a sum of HK$2.14 billion, The Standard reported. The properties have a maximum developable area of 177,500 square feet.
* In the same report, The Standard said that wealth management company Harris Fraser Group Ltd. expects prices in the Hong Kong property market to decline by between 8% and 13% over the next few months amid waning confidence due to economic and political uncertainties.
* Hang Lung Properties Ltd. laid the groundwork for a 194,000-square-meter commercial development in Hangzhou, China, Hong Kong Economic Times reported. The 19 billion-yuan project will provide a mega shopping mall, five A-grade office buildings and a high-end hotel upon its anticipated completion in 2024.
* A spokeswoman for CK Asset Holdings Ltd.'s Harbour Grand development in Hong Kong's North Point area said that the property's management did not offer a hotel at Fortress Hill for protesters in the city to change clothes or offer them free meals, The Standard reported. The spokesperson made the clarification after rumors that it did so on Chinese social platform Sina Weibo.
* The average prices of new homes in China's 70 major cities grew 8.8% year over year in August, Reuters reported, citing data from the National Bureau of Statistics. The country's cooling economy and existing measures to control speculative buying were cited as factors that affected the increase.
India
* Coffee Day Enterprises Ltd. executed definitive agreements with entities owned by Blackstone Group Inc. and Salarpuria Sattva Pvt. Ltd. for the 27.00 billion-rupee divestment of the 90-acre Global Village Technology Park in Bengaluru.
* Sunteck Realty Ltd. acquired an integrated development in Mumbai from Transcon Developers Pvt. Ltd. as part of a joint venture agreement with the vendor, Mint reported, citing a statement from the buyer. The purchased property has approximately 1.1 million square feet of space for development and is expected to generate 25.00 billion rupees in revenue in the next four to five years.
Southeast Asia
* Filipino developer Ayala Land Inc. is expecting 12.7 billion pesos in sales from its 7 billion-peso Parklinks North Tower residential development in Quezon City, Philippines, The Manila Times reported, citing Tomas Cadiz, marketing agent for the 55-story project. Paolo Viray, head of sales and marketing at Ayala Land Premier said nearly 70% of units comprising the property were already sold within 10 months after the project's launch.
* Mapletree Industrial Trust is aiming to raise at least S$350.0 million from a private placement of 158,300,000 new units priced between S$2.211 and S$2.265 apiece. The placement comes with an upsize option for the issuance of 22,615,000 additional new units, which could result in additional gross proceeds of about S$50.0 million, according to a news release.
* Chinese developer Country Garden Holdings Co. Ltd. issued US$500.0 million of 6.15% senior notes due 2025 on Sept. 17. The notes are expected to be listed on Singapore's stock exchange on Sept. 18, according to a filing.
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.
Ian Cruz and Emily Lai contributed to this report.
