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Blackstone eyeing Mumbai office; JLL picks ASEAN property market's 'rising star'

* Blackstone Group LP is in advanced discussions to purchase more than 360,000 square feet spread over six floors in First International Financial Centre Tower in Mumbai, for more than 8.50 billion Indian rupees, The Economic Times of India reported, citing "three persons familiar with the development."

* In a report focused on 2017 real estate investment opportunities in ASEAN, Jones Lang LaSalle Inc. identified Vietnam as a "rising star." The company also pointed toward potential growth for Indonesia's logistics sector and noted that the Vietnamese real estate sector is spurred in part by recent government reforms.

Hong Kong and China

* Link Real Estate Investment Trust made an application to the Hong Kong bourse for the listing of a unit's US$3.00 billion guaranteed euro medium-term note program for professional investors. The company expects the listing to become effective from Jan. 26.

* Sun Hung Kai Properties Ltd. subsidiary Yata will open an outlet at Hong Kong Plaza Feb. 12, The (Hong Kong) Standard reported. According to the report, the company intends to open two more new outlets in Hong Kong in 2017.

* Hong Kong's Lands Department awarded the tender for a 7,318-square-meter residential site in Kai Tak, Kowloon, to Onwards Asia Ltd. unit Top Genius Holdings Ltd. on a 50-year land grant at a premium of approximately HK$5.53 billion.

* Chengdu in central China's Sichuan province has required property developers to pay off all land purchase funds within three months if the parcel has a price premium of over 60%, according to a circular issued by local authorities, China Securities Journal reported.


* JPMorgan analysts suggested that Shopping Centres Australasia Property Group will struggle to acquire rival shopping center owner Charter Hall Retail REIT, as the quality of the former's own property portfolio and scrip, asset level resourcing and long-term growth prospects all favor Charter Hall, The Australian Financial Review reported.

* According to The Australian, Google Inc. is in discussions to take up more space in GPT Group's workplace6 complex in Pyrmont, Sydney. GPT reportedly recently said the technology giant had leased 9,850 square meters at its Pyrmont headquarters building until 2021.

* Law firm Allens Linklaters renewed its lease agreement at Investa Office Fund's landmark Sydney tower at 126 Phillip St., pursuant to which Allens will occupy 8,424 square meters for another 7.5 years after the current tenancy expires in June 2019. The agreement slashes Investa's lease expiry in 2019 by 1.4% and improves the average lease expiry of the property by 1.7 years.


* Keppel DC REIT said Keppel DC Singapore 3 Pte. Ltd. has been converted to a limited liability partnership, after Keppel DC REIT bought the project company's data center in October 2016.


* According to Nomura Real Estate Urban Net Co. Ltd.'s survey of the Tokyo metropolitan area, the growth rates for residential land and second-hand condominium prices as of Jan. 1 have slowed from December 2016, Jutaku-Shimpo-sha reported.


* Fitch Ratings forecasts a drop of at least 20% to 30% in India's 2017 property sales, due to disruption caused by demonetization and buyers' general caution. Risks to homebuilders are also expected to further rise in 2017, with increasing leverage and tightened liquidity, the rating agency said in a note.

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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, Julie Zhou and John Chan contributed to this report.