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CK Asset closes £1B GIC buy; HNA selling in Melbourne; Wuzhou resumes trading


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CK Asset closes £1B GIC buy; HNA selling in Melbourne; Wuzhou resumes trading

* CK Asset Holdings Ltd. completed its £1 billion acquisition of the 5 Broadgate development in London from a joint venture of British Land Co. PLC and Singaporean wealth fund GIC Pvt. Ltd. Swiss multinational investment bank UBS Group AG is occupying the 12-floor property until 2035.

* HNA Group Co. Ltd. is believed to be in discussions with Australia-based developers for the over A$110 million sale of the Aitken Hill conference center in Melbourne's Craigieburn suburb, The Australian Financial Review reported, citing sources close to the matter. Part of its global assets divestment spree, the Chinese conglomerate is marketing the 69-hectare property at 20 Dunhelen Lane, which it bought in November 2016 for approximately A$100 million from mining company BHP Billiton.

Separately, an HNA Group affiliate earned about US$39.1 million from the recently completed divestment of its entire shareholding in Red Lion Hotels Corp.

* Shares of Wuzhou International Holdings Ltd. are expected to trade again on the Hong Kong stock exchange June 15 at 9 a.m. local time.

Trading in the company's stocks was suspended May 25 after the price of the shares dipped 84.89% to a record low of 6.8 Hong Kong cents, following the release of reports claiming that a subsidiary of the company is involved in various acts of misappropriating money.


* CLSA Ltd. analyst Sholto Maconochie said investors of the Hometown America Corp.-targeted Gateway Lifestyle Group should be open to the possibility of a higher bid, The Australian reported.

In light of Gateway Lifestyle's recent share-price hike, Maconochie believes that the retirement village operator's American suitor could lodge a higher takeover offer. The analyst also flagged the possibility of a competing offer being submitted by potential suitors including GIC, Brookfield, Ingenia Communities Group and Stockland, according to the publication.

* Macquarie Capital Ltd. and Morgan Stanley are emerging as the two brokers preferred to oversee the planned listing of online real estate settlement company Property Exchange Australia Ltd., the AFR's Street Talk reported. Other companies considered for the job are UBS, Credit Suisse, Citi and Bank of America Merrill Lynch.

* Various high-profile local developers are wooing C!inc Hospitality Managing Director Chris Cheung to secure a deal for the acquisition of the Coogee Bay Hotel in Sydney, The Australian reported. The pursuit of the property, which was offered for more than A$250 million, is continuing even after a spokesperson for Cheung said that the hotel had been pulled out of the market.

* Australian Unity commenced works on the A$340 million hospital component of the A$1.1 billion Herston Quarter precinct in Brisbane, the AFR reported. Under construction is a 184-bed hospital that will be held by the A$1.6 billion Healthcare Property Trust.

Hong Kong and China

* Hengli Investments Holding (Group) Ltd. is being floated as the buyer of Swire Properties Ltd.'s Cityplaza Three and Cityplaza Four buildings in Hong Kong, Bloomberg News reported, citing people familiar with the matter. Earlier, it was said that a China-backed consortium is negotiating with the selling developer for a roughly HK$15.00 billion acquisition of the properties.

* A subsidiary of China Resources Gas Group Ltd., an affiliate of China Resources Land Ltd., is purchasing a 21-floor commercial building in Zhenjiang, China, for nearly 315.7 million yuan from Zhenjiang City Construction Industry Group Co. Ltd.

* Data from China's National Bureau of Statistics found that real estate development investments for January to May rose 10.2% on the year to 4.14 billion yuan. Of the investment amount, 70.1% went to residential projects, AAStocks reported.


* A Frasers Commercial Trust subsidiary secured a A$135 million loan facility from the local branch of Commonwealth Bank of Australia. The four-year term facility will be used to refinance a same-amount debt owed to Commonwealth Bank and Oversea-Chinese Banking Corp. Ltd.

Other news

* Mitsubishi Estate Co. Ltd. is among a growing number of companies in Japan that are using big data in their operations, Tokyo's The Nikkei reported. The technology is also being used to collaborate with other companies in other industries.

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.

Cam Nones and John Chan contributed to this report.

As of June 14, US$1 was equivalent to 6.40 yuan.