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Sydney skyscraper sells for over A$430M; BTS to invest 20B baht on JV projects

* Australian life insurer AMP Life sold its 1.1-hectare headquarters in Sydney's Circular Quay to two AMP Capital funds, AMP Capital Wholesale Office Fund and AMP Capital Diversified Property Fund, for more than A$430 million, IPE Real Estate reported.

* SET-listed BTS Group Holdings Plc will make an investment of 20 billion Thai baht in new land plots for joint-venture development of condominium and low-rise residential projects with fellow listed developer Sansiri Plc, the Bangkok Post reported.

The publication quoted BTS Chairman Keeree Kanjanapas as saying that land plots close to mass transit lines make sound investments due to capital gains from appreciating land prices outweighing what bank interest offers.

Hong Kong and China

* Fantasia Holdings Group Co. Ltd. said it is planning to issue an additional US$100.0 million in 7.375% senior notes due 2021, which will be consolidated with the US$400.0 million of 7.375% senior notes due 2021 issued in October. The company expects the net proceeds from the additional-note issuance to be around US$100.5 million, which it plans to use to refinance certain existing debt.

* The Hong Kong government has only identified sufficient land to build 236,000 public housing flats by 2027, short of its target of 280,000 units, the Hong Kong Economic Journal reported, citing Secretary for Transport and Housing Professor Anthony Cheung Bing-leung.

* The Shanghai Municipal government has suspended the transfer of three residential land sites in Fengxian District, China Securities Journal reported. According to the report, local authorities will investigate the capital sources of their bidders and relevant parties.

* Despite the Chinese government's measures to monitor capital outflow, local investors will keep investing in foreign real estate next year, Shanghai Daily reported, citing Stuart Crow, global property advisory firm JLL's head of Asia-Pacific capital markets.


* Australian billionaire Lang Walker struck a deal with the New South Wales government to accommodate thousands of public servants, beating property giants DEXUS Property Group and Scentre Group, The Australian reported. Following the deal, Walker's company will develop the largest-ever building in the western Sydney hub of Parramatta.

This latest development follows Walker clinching the approval to develop two commercial buildings as a part of the A$2 billion Parramata Square project last month, according to the report.

* Student accommodation provider and developer Unilodge expanded its Melbourne portfolio with the acquisition of a residential site from Mammoth Empire for A$17 million, marking the Malaysian developer's maiden residential site sale outside the Melbourne central business district, The Australian Financial Review reported, citing sources.

* Also in Melbourne, The Australian reported that private investment firm Pro-invest Group will develop a Holiday Inn Express on its recently acquired A$30 million property in the city's CBD.

* Aspen Group announced the acquisition of Barlings Beach Holiday Park on the New South Wales South Coast for A$13.3 million, representing an initial yield of 9.1%.


* Japanese property developer Shinwa Real Estate Co. set up its first-ever overseas joint venture in Thailand, named W-Shinwa Co., with local company Woraluk Property Public Co., with the aim of developing Japanese-standard property projects in the Thai market, Kyodo News reported. According to the report, the joint venture is capitalized at 275 million Thai baht. Shinwa and its unit own 51% of the joint venture, with Woraluk accounting for the rest.


* Mitsubishi Jisho Residence Co. Ltd. will fully develop a series of compact condominiums, The Park One's, mainly in Tokyo, starting from January 2017, Jutaku-Shimpo-sha reported.

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.

John Chan and Celestyn Wong contributed to this report.