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Minor plans takeover bid for NH Hotel; Mirvac to buy 50% stake in Westpac tower

* Bangkok-based hospitality and leisure company Minor International PCL is planning a takeover of NH Hotel Group SA after paying €622 million to acquire a majority interest in the Spanish company from China's HNA Group Co. Ltd. Minor International said it will pay €6.4 for each share it does not own in NH Hotel.

* Australia-listed Mirvac Group is expected to exercise a pre-emptive right to acquire a 50% stake in Westpac Banking Corp.'s headquarters at 275 Kent St. in Sydney from private equity giant Blackstone Group LP for more than A$850 million on behalf of an institutional investor, The Australian Financial Review reported.

Hong Kong and China

* Chinese property developer Jiayuan International Group struck a conditional deal to acquire a 90% stake in three property development projects with a total gross floor area of approximately 593,770 square meters in Shanghai for about HK$693.6 million from its chairman and controlling shareholder, Shum Tin Ching.

* Beijing Capital Land Ltd. and its Central Plaza Development Ltd. subsidiary entered into a 667.0 million-yuan deal to sell the 59.5% equity interest they hold in Beijing Financial Street International Hotel Ltd. to Transcend Avenue Ltd.

* A Hong Kong couple resold a car parking space at Sun Hung Kai Properties Ltd.'s Ultima apartment complex in Kowloon, Hong Kong, for a record HK$6 million, the South China Morning Post reported, citing Land Registry documents. The couple earned a HK$2.6 million profit on the sale, which took place less than nine months after buying the parking space.

* A Hong Kong family aims to sell 10 plots of farmland spanning 119,000 square feet in Yuen Long, Hong Kong, on June 11 via a private auction that could fetch the vendors HK$370 million, the SCMP reported.

Australia

* Chinese developers struck deals worth approximately A$2 billion to acquire more than two-thirds of all large greenfield land parcels in Melbourne's outer suburbs that were put on the market in the last 18 months, the AFR reported, citing statistics from real estate group RPM.

* Private developer Salta Properties Pty. Ltd. gained planning approval for the next phase of its Victoria Gardens Shopping Centre in Melbourne's Richmond suburb, The Australian reported. The A$390 million mixed-use project will comprise a five-building precinct on a site of over 14,000 square meters, offering shops, offices and 426 build-to-rent apartments.

* Hong Kong's Lei Shing Hong, the world's largest distributor of Mercedes-Benz cars, aims to develop a A$290 million office tower on a 30,000-square-meter property at 264-274 Sturt St. in Melbourne's Southbank, incorporating a car showroom, the AFR reported.

* Still in Melbourne, a 14.96-hectare apple orchard at 1201-1211 High St. Road in Wantirna South is likely to draw interest from Asian developers and Australian companies such as Stockland, Mirvac and Lendlease Corp. Ltd., as the land is being marketed as a A$90 million residential development site, the AFR reported.

* A private family vendor is looking to sell a 33.5-hectare site at 285-297 Annangrove Road in Sydney's Rouse Hill suburb for more than A$200 million, The Sydney Morning Herald reported. The site could house medical and education facilities, as well as low- and medium-density housing, according to the report.

* The value of industrial land in Melbourne has increased by as much as 100% in the last 12 months, with the steepest rises recorded in the west, The Sydney Morning Herald reported, citing Cushman and Wakefield national research director Tony Crabb.

* Australian diversified property group GPT Group reaffirmed its full-year 2018 outlook of 3% growth for both funds from operations per security and distributions per security and said the GPT Wholesale Shopping Centre Fund has formally withdrawn the Wollongong Central shopping center from the market.

Southeast Asia

* Huttons Asia Head of Investment Sales Terence Lian said a public tender for the 34,044-square-foot Katong Plaza freehold site in Singapore is expected to be launched June 7, with a price tag of S$188 million.

* Malaysia's Kenanga Investment Bank Bhd. issued a bearish sales outlook for the property sector, following weak first-quarter results, making it the fourth consecutive quarter of downward earnings projections, New Straits Times reported.

Japan

* Matsumotogumi Co. Ltd.'s construction arm has struck a joint venture deal with Mitsubishi Estate Co. Ltd. to jointly develop the Mark IS Fukuoka Momochi commercial facility, the largest of its kind in Fukuoka City, with a scheduled opening in the fall of 2018, Net IB News reported.

* Sumitomo Realty & Development Co. Ltd. is planning to develop a complex with five condominium buildings and a shopping area in Katsushika Ward, Kentsu Shinbunsha reported.

* Tokyo Tatemono Co. Ltd., Sumitomo Realty & Development, Nomura Real Estate Development Co. Ltd., Sumitomo Corp. and Tokyu Land Corp. are jointly developing the 1,400-unit Shintocity condominium project in Saitama Shintoshin area in Saitama City, Jutaku Shimpo Inc. reported.

Other real estate news

* A subsidiary of Singapore-based Frasers Property Ltd. gained approval from the Enterprise Chamber of the Amsterdam court of appeal for its proposed takeover of European commercial real estate company Geneba Properties NV.

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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. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Rollen Catorce and John Chan contributed to this report.

As of June 5, US$1 was equivalent to 6.41 yuan and S$1.34.