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Scentre eyes 3% YOY growth in FY'16 FFO; Dalian Wanda mulls Shanghai backdoor listing

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Scentre eyes 3% YOY growth in FY'16 FFO; Dalian Wanda mulls Shanghai backdoor listing

* Scentre Group's portfolio in New Zealand and Australia isover 99.5% leased, as at March 31, with the company completing 471 lease deals duringthe first quarter.

The companyaddedin its first-quarter operations update that it expects FFO for the 2016 full yearto grow by roughly 3% year over year.

* Dalian Wanda Commercial Properties Co. Ltd. is believed tobe considering the acquisition of a shell company for a potential backdoor on the Shanghai bourse. Thecompany is mulling over the plan as an alternative if it does not gain regulatoryapproval for an IPO in Shanghai.

* Goodman Group is selling a development site near the SydneyOlympic Park in Sydney to Australia YMCI for over A$660 million, a "record"amount for an Australian development sale, TheAustralian reported.

AustraliaYMCI, which is backed by the Yunnan provincial government in China, plans to usethe site as the location for the "largest ever" residential developmentby a mainland Chinese firm in the country, according to the publication.

* said low vacancylevels helped support growth for its office portfolio in Hong Kong, according toan interim management statement for the first quarter of 2016. In China, the companyrecognized "signs of improvement" in its key markets, with attributableinterest in contracted sales amounting to US$194 million.

* Australian Unity's listing ofthe Australian Unity Office PropertyFund on the Australian bourse inched closer to reality, as the companyis planning to start with institutional marketing in May, The Australian Financial Review reported.

An IPOof the office property fund is expected to raise up to A$155 million, accordingto Mark Pratt, general manager of Australian Unity Real Estate Investment.

HONG KONG AND CHINA

* China Vanke Co. Ltd. said it recorded 35.65 billion Chineseyuan of sales in April, representing 2,642,000 square meters of sales area. Sinceits sales update for March,the company acquired four new projects in China.

* Hang Lung Properties Ltd. served as the guarantor for HLPFinance Ltd.'s US$3.00 billion medium-term note program. HLP applied to The StockExchange of Hong Kong Ltd. for the program's listing, which is expected to be effectiveMay 5.

* China's largest property webportal, SouFun Holdings Ltd., is following the footsteps of Dalian Wanda CommercialProperties, as the company aims to transfer its listing status to China from theU.S., Bloomberg News reported.SouFun plans to list on the Shanghai bourse by conducting an asset and share swapwith Chongqing Wanli New Energy Co.

* More property developers in Chinahave a negative ratings outlook from Moody's in April than in March, as the proportionof companies with negative credit ratings rose to 46% from 42% in March, the South China Morning Post reported,citing the rating agency.

* Goldman Sachs advises cuttingexposure to Chinese developers' stock despite the sales boom in tier one cities,accordingto CNBC. Goldman is concerned that government policy on property may become lesssupportive, with prices in higher-tier cities having surged over the past year,prompting some cities to introduce cooling measures.

* China's National Developmentand Reform Council announced that total investment by real estate developers increased6.2% year over year in the 2016 first quarter to reach roughly 1.768 trillion yuan,according to Guandian.

AUSTRALIA AND NEW ZEALAND

* Stockland CEO Mark Steinert believes that the housing sectorin Australia is in a "pro-growth" environment, due to low interest ratesand growing population numbers, among other factors, the AFR reported.Investment lending controls will also help in sustaining growth within the sector,according to Steinert.

* GPT Group seeks to divest apartment development sites mostlyin Sydney as one way to unlock value, TheAustralian reported,citing GPT CEO Bob Johnston.The company is also looking to form joint ventures as another option for the sites,which have capacity for over 5,000 apartments.

* DEXUS Property Group CEO Darren Steinberg said in the company'slatest earnings release that the failedmerger with Investa Office Fund is "unfortunate," noting that the planhad the support of the majority of the fund's investor base.

"Froma DEXUS perspective, we maintained our discipline with regards to price,always considering the underlying value of the real estate," he added.

* Private local developer Dyldamplans to redevelop the former Cumberland Newspapers headquarters at 142 MacquarieSt. in Parramatta, Sydney, into a A$500 million mixed-use project, The Australian reported.A 60-floor residential building will anchor the project on a 1.25-hectare site.

* Home prices in New Zealand increased12% in the year to April compared with an annual rate of 11.4% in March, Reutersreported,citing data from government property valuer Quotable Value. The price increase tookplace as "record low" interest rates prompted more buyers to acquire propertiesin the country.

JAPAN

* Tokyo's The Nikkei reportedthat its survey of office rents in April showed that rents for new office buildingsin central Tokyo were up in March from a year ago, reaching the highest level since2008 in the wake of the global financial crisis.

* Odakyu ElectricRailway Co. Ltd. will develop a 3.5-hectare space between Odakyu Electric RailwayEbina Station and East Japan Railway Ebina Station in Kanagawa Prefecture into acommercial and office building complex, with construction set to begin in the secondhalf, Kentsu Shinbunsha reported.

SOUTHEAST ASIA

* Ayala Land Inc.'s net income between January and March rose 14% to 4.7billion Philippine pesos compared with the same period in 2015.

* Malaysia's Finance Ministry willrequire 1Malaysia Development Bhd. to transfer the ownership of Bandar MalaysiaSdn. Bhd., TRX City Sdn. Bhd., Air Itam lands and Pulau Indah land to Minister ofFinance Inc., as part of the recommendations in a Public Accounts Committee report,The (Malaysia) Star reported.

SINGAPORE

* Sim Lian Group plans to leasean estimated 200,000 square feet office space at the 25-floor Vision Exchange buildingin Jurong Lake District, The (Singapore)Business Times reported.

INDIA

* The top eight cities in the countryrecorded growth in home sales during the first quarter of 2016, up 6% year overyear, The Economic Times of India reported,citing data from real estate research firm Liases Foras.

Now featured

:Dalian Wanda Commercial Properties' consideration of a backdoor listing in Shanghaiand IPO news from Turkey and South Korea made waves during the week.

The Daily Dose Asia-Pacific, RealEstate edition is updated by 6:30 a.m. Hong Kong time. Some external links may requirea subscription. Articles and links are correct as of publication time.