* Dalian Wanda Group Co. Ltd.'s Wanda Hotel Development Co. Ltd. said media reports claiming that it will sell US$5.00 billion of its development projects in London, the U.S. and Australia are "untrue." The company clarified that it is only undertaking a strategic review of the projects.
* China is looking to implement even stricter property market cooling measures in a bid to stabilize prices and prevent housing bubble risks, Reuters reported, citing government agencies' statement aired on China Central Television.
The move comes amid warnings from agencies such as Moody's, which said earlier in November that extended and tight property cooling measures in the country could result in pressure on real estate businesses, leading to an expected 5% fall in China's contracted sales for the six months to Dec. 31, 2018.
* Mirvac Group entered into an agreement for its A$86.3 million acquisition of two six-story buildings at 75 George St. in the Parramatta suburb of Sydney. The purchase is expected to be settled in January 2018.
* In a separate agreement, Mirvac is leasing for seven years a 17,000-square-meter industrial facility at its Calibre industrial estate in the Sydney suburb of Eastern Creek to household and commercial appliance retailer and manufacturer Miele. The Australian Financial Review reported that the facility was purpose-built for the new tenant.
* A Folkestone Ltd.-established fund agreed to buy for A$43.5 million a 144-room hotel in New South Wales, from GS Hotel Development Pty. Ltd., Folkestone's joint venture with the Veriu Hotels & Suites-affiliated Furnished Property.
* The Schwartz family sold a two-asset portfolio of its estate in Melbourne's central business district for nearly A$100 million, the AFR reported. The Duke of Wellington pub with an adjoining office building on Russell St. and the Adina Hotel on Flinders St. were off-loaded with yields below 4%, increasing the price of the portfolio from the initial expected price of A$80 million.
* The New South Wales government is planning to reform its Property, Stock and Business Agents Act in a bid to tighten the law governing real estate agents, the AFR reported.
* Singapore's Ascendas-Singbridge Group has launched its fifth office fund, with equity of S$39.6 million, through its Ascendas Asset Management Co. Ltd. subsidiary, Deal Street Asia reported.
Ascendas Korea Office Qualified Private Real Estate Investment Trust No. 5, a 10-year closed private fund, manages the ICON Yeoksam office building in Seoul's Gangnam business district, which was purchased Nov. 20 for S$124.3 million.
* UOL Group Ltd. is offering to pay S$11.85 for every offer share it does not already own in Singapore Land Ltd., a subsidiary of United Industrial Corp. Ltd.
The offer was made pursuant to a ruling by the Securities Industry Council of Singapore that mandates UOL to also make a mandatory offer for Singapore Land after its stake in United Industrial surpassed 50% as a result of recent transactions.
* S&P Global Ratings upgraded the long-term corporate credit rating of Vietnam-based Vingroup Joint Stock Co. to B+ from B with a stable outlook.
Hong Kong and China
* Guangzhou R&F Properties Co. Ltd. subsidiary Taiyuan R&F Properties Development Co. Ltd. was ordered by the Taiyuan Arbitration Commission to pay Shanxi Fengyun Reli Co. Ltd. nearly 22.0 million yuan for backing out of a contract. The company clarified that government policy forced Taiyuan R&F to back out of the agreement.
* China Jinmao Holdings Group Ltd. put up for sale on the Shanghai United Assets and Equity Exchange its 50% stake in Shanghai Xingwaitan Development & Construction Ltd.
* China Merchants Shekou Industrial Zone Co. Ltd. and China Merchants Land Ltd. subsidiaries China Merchants Land (Shenzhen) Ltd. and Happy City Investments Ltd. signed a new agreement to amend certain terms of their previous deal, under which an additional 10.00 billion yuan in capital will be injected to their joint venture, Merchants Nanjing Real Estate Co. Ltd. The new deal will see China Merchants Shekou and Happy City pumping additional capital of 30.0 million yuan into Merchants Nanjing.
* Japan Retail Fund Investment Corp. agreed to pay ¥15.0 billion for the Prada-occupied G-Bldg. Midosuji 02 retail asset in the Shinsaibashi shopping district of Osaka.
* Nomura Real Estate Master Fund signed a deal with an unnamed seller to purchase the Summit Store Mukodaicho retail property in Tokyo for ¥5.10 billion.
* A syndicate of banks agreed to provide Daiwa House REIT Investment Corp. with a ¥16.00 billion, 10-year loan to help fund the company's plan to refinance its borrowings that will expire Nov. 29.
Daiwa House also established a ¥20.00 billion commitment line with four banks, which will be available from Dec. 1 to Nov. 30, 2018. Funds drawn from the commitment line are earmarked for asset buys, loan repayments and bonds redemption, among other purposes.
* Senju 1-chome District Urban Redevelopment Association together with Mitsubishi Jisho Residence Co. Ltd., Mitsubishi Logistics Corp. and Sugimoto Holdings launched the construction of mixed-use redevelopment project Senju 1-chome District First Type City Redevelopment Project in Adachi Ward, Tokyo. The building has 30 levels above ground and one underground level, e-LogiT reported.
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Rollen Catorce and John Chan contributed to this report.
As of Nov. 21, US$1 was equivalent to 6.63 yuan, ¥112.45 and S$1.35.