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DEXUS files A$1B plan for Sydney tower; SM Prime launches 7th Chinese mall

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DEXUS files A$1B plan for Sydney tower; SM Prime launches 7th Chinese mall

* DEXUS Property Group and billionaire Stan Perron submitted plans to build a A$1 billion apartment and hotel complex in Hyde Park, Sydney, The Australian reported. The property developer will redevelop an existing 38-floor office building into a slim tower that will feature luxury apartments and a five-star hotel, among other features.

* SM Prime Holdings Inc. launched its seventh mall in China, SM City Tianjin. The new shopping center spans a gross floor area of 565,000 square meters.

Hong Kong and China

* China Vanke Co. Ltd.'s shares on the Shenzhen bourse dropped 6.06% and fell 3.21% in Hong Kong, following the company's announcement of a terminated deal with Shenzhen Metro Group Co. Ltd., the South China Morning Post reported.

* Fantasia Holdings Group Co. Ltd. plans to redeem approximately US$279 million of outstanding notes under its issuance of US$300 million in 10.625% senior notes due 2019 ahead of schedule on Jan. 23, 2017. The company intends to redeem the bonds at an earlier date to save interest cost and optimize its debt structure, according to a release.

* CIFI Holdings (Group) Co. Ltd. will issue US$285 million of 5.5% senior notes due 2022. The company expects to record approximately US$278 million of estimated net proceeds from the issuance, which will be used to refinance existing debt and for general corporate purposes.

* Hong Kong's Lands Department awarded the tender for a private residential site in Kai Tak, Kowloon, to Denco Properties Ltd. at a premium of roughly HK$5.41 billion.

* Moody's placed Yuexiu Real Estate Investment Trust's Baa2 issuer rating on review for downgrade, reflecting concerns over the company's heightened level of financial risk due to its higher debt leverage.

* The mainland Chinese government's property cooling measures appeared to have taken effect, as new home prices rose at a slower rate in November at 0.6% month over month in 70 major cities, Reuters reported, citing data from the National Bureau of Statistics.


* APN Property Group's new unlisted fund comprises 23 Puma Energy service stations in Queensland and New South Wales worth A$106.1 million, The Australian Financial Review reported. The fund is expected to provide a 7.40% starting equity distribution yield per year.


* Nomura Real Estate Development Co. Ltd. received the Governor of Tokyo's approval for its Minami Koiwa 6-chome District 1 Type Urban Area Redevelopment Project in Edogawa Ward, Tokyo, Jutaku-Shimpo-sha reported.

Southeast Asia

* Japanese property manager Kenedix Inc. plans to acquire a 15% stake worth 86 million Malaysian ringgit in Malaysia-based AmanahRaya REIT and a 49% stake worth 5.1 million ringgit in the REIT's parent, Reuters reported, citing a joint statement from the companies.

* Cache Logistics Trust trustee HSBC Institutional Trust Services (Singapore) Ltd. plans to sell the Cache Changi Districentre 3 property in Singapore to Agility International Logistics Pte. Ltd. for S$25.5 million.


* In the first nine months of 2016, the number of residential apartment sales in the top seven markets surpassed the number of new launches for the first time in eight years, The Economic Times of India reported, citing JLL India.

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.

Abdul Rehman Maqbool, John Chan and Julie Zhu contributed to this report.