* Apeejay Surrendra Park Hotels Ltd is seeking to raise up to 10 billion Indian rupees from an IPO, according to its draft prospectus. The offering will include up to 40% of new shares, and the remaining portion will be existing shares sold by various shareholders. It added that 3 billion rupees of the net proceeds will be used to repay debt.
* China Evergrande Group sets its contracted sales target for 2020 at 650.00 billion yuan, up 8.1% from its 2019 actual contracted sales of 601.06 billion yuan. One of China's three largest property developers by sales added that its contracted sales area for 2019 was approximately 58.5 million square meters, with the average contracted selling price of properties at 10,281 yuan per square meter.
* China's government is inviting bids for a 323,665-square-meter mixed-use site in Xuhui district, Shanghai, and the result is expected Jan. 19, according to an announcement from the Shanghai Land Market. The site, comprising 28 land parcels, could be sold for as much as 32.5 billion yuan, Mingtiandi reported.
* China Overseas Property Holdings Ltd. and Central Holding Group Co. Ltd. jointly acquired a 41,862-square-meter commercial land parcel in Shanghai, China, at a reserve price of 6.27 billion yuan, Guandian reported. The plot can yield around 400,000 square meters of gross floor area.
* Shanghai Industrial Holdings Ltd. said its 32.5%-owned project company placed the winning bid of 4.63 billion yuan for a 91,000-square-meter site in Shanghai. Based on its equity interest, the company plans to commit 1.53 billion yuan as capital into the project company to develop the mixed-use site, which has a gross floor area of 510,000 square meters.
* Various Chinese developers released 2019 sales figures. Guangzhou R&F Properties Co. Ltd. said its contracted sales for the full year totaled 138.19 billion yuan, up 5% from 2018, and contracted sales area increased 23% year-over-year to 12.5 million square meters.
Midea Real Estate Holding Ltd.'s contracted sales in the 12 months ended Dec. 31 grew year over year by roughly 28.1% to about 101.23 billion yuan, with approximately 10.023 million square meters of gross floor area sold. Meanwhile, China Aoyuan Group Ltd. said its contracted sales for the full year totaled 118.06 billion yuan, up 29% from 2018.
* New World China Land Ltd. named two co-CEOs: Adrian Cheng, who is also Executive Vice-Chairman and General Manager at the parent company New World Development Co. Ltd., and Choy Hon-Ping, who was previously COO at New World China. The company said the appointments are effective in January, without specifying an exact date.
* ARA Asset Management Ltd. completed the acquisition of the Robinson Center through its ARA Real Estate Partners Asia II fund. The 20-story property at 61 Robinson Rd. has a net lettable area of more than 130,000 square feet.
The firm paid S$340 million for the property, according to a report by Mingtiandi, citing people familiar with the transaction.
* AIMS APAC REIT's manager said in a filing that the refurbishment at its NorthTech industrial property was completed within budget. The enhancement initiative at the 29 Woodlands Industrial Park E1 site boosted the property's value to S$116.5 million, compared with S$102.0 million as of March 2018.
* Mitsui Fudosan Co. Ltd. and Eastern & Oriental Bhd. are looking to launch a luxury residential development in Kuala Lumpur with a gross development value of 348 million ringgit. According to a filing, the development will comprise three-story villas with 54 units and is expected to be launched in the second half of 2020.
Other Real Estate News
* Meritz Securities Co. Ltd., AIP Asset Management and JR AMC Co.Ltd. completed the €1.4 billion purchase of the 36-story Finance Tower in Brussels, Belgium from Breevast BV, The Korea Economic Daily reported. The transaction was deemed the biggest single-property deal in the country.
Aries Poon contributed to this report.
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.