trending Market Intelligence /marketintelligence/en/news-insights/trending/xarU5xLrK6a54tal1PN7Og2 content esgSubNav
In This List

Chinese group buys Hong Kong office for HK$4.5B; Dalian Wanda inks deals in Europe


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Chinese group buys Hong Kong office for HK$4.5B; Dalian Wanda inks deals in Europe

Affluent mainlander

Inanother push into Hong Kong, mainland conglomerate Cheung Kei Group 's OneHarbourGate East office tower in Hung Hom, for HK$4.5 billion.

The15-story propertywas completed at the end of June and spans about 25,000 square meters. Theother building in the One HarbourGate complex was to , also amainland group, for HK$5.85 billion in November 2015.

CheungKei made waves in Hong Kong in June, when its chairman acquiredthe 15 Gough Road luxury villa on the Peak for HK$2.1 billion — a record forthe city and ranks in the most expensive houses sold globally.

Wanda in Europe

DalianWanda Group Co. Ltd.'s stalled One Nine Elms regeneration project in London hasreceived £500 million in financing from Chinese bank Ping An. The funding allowedthe company to enter into a pre-construction agreement with Balfour Beatty,after talks with the original joint venture selected to build the tower fellthrough. The mixed-use development, which will feature 437 homes and afive-star Wanda Vista hotel, is scheduled for completion by 2019-end.

Meanwhile,the Chinese conglomerate, through subsidiaries, has to sell the Edificio Espanabuilding in Madrid to investment group Baraka for €272 million, after its planto redevelop the 25-story asset to a hotel and retail center failed to landapproval.

Crossing borders  

*China's Poly Real Estate acquired two George Street office properties nearCircular Quay, Sydney, for A$160 million, TheAustralian Financial Review reported.

*Oceanwide Plaza LLC, a U.S. unit of China Oceanwide Holdings Ltd., into a US$814 millionconstruction deal with LendleaseCorp. Ltd. for a mixed-use project in Los Angeles.

*Singapore's GIC Real Estate has joined hands with shopping mall giantScentre Group on aA$450 million redevelopment project for the Westfield Whitford City inPerth, Australia. The plan involves the addition of an outdoor dining precinctand cinemas at the mall, with work expected to competed by late 2017.

*Betting on the rapid growth in international student enrolments, Dutch pensioninvestment managers Bouwinvest and APG plan to invest a combined A$150 millionin the development of student housing properties in Australia and New Zealandthrough a consortium led by Scape Australia, which has bought eight sites for4,000 student studios, IPE Real Estatereported.

Escalating battle

is askingregulators to investigate the way that Baoneng Group purchased sharesin the company. It reportedly listed 12 problems with the funding activities ofBaoneng, which allowed it to become the developer's biggest shareholder.

Followingthe request, Chinese banks sought to find a way out of its funding agreementswith Baoneng Group, fearing regulatory uncertainty, Caixin reported.Baoneng also faces the forced liquidation of its investment in the developerunless it can meet impending margin calls on its borrowing, London's Financial Times reported.

Eye on earnings

*Gemdale Properties &Investment Corp. Ltd. released a positive profit alert saying thatthe company is expected to record an increase of more than 1,000% in its profitattributable to owners of the company in the first half from 32.77 million yuanin the year-ago period.

*Chinese Estates HoldingsLtd. expects to post an increase in revenue in between 96% and 106%and may record a profit for the first half. In the year-ago period, it postedHK$969 million of revenue and a HK$115 million consolidated net loss.

*C C Land HoldingsLtd. and its subsidiaries may record a more than 90% drop in itsprofit attributable to shareholders for the first half from approximatelyHK$588 million a year ago.

*Ascott ResidenceTrust recorded a 2% year-over-year increase in distribution perunit or DPU to 2.13 Singaporean cents in the second quarter.

*Cache Logistics Trustsaid its DPU in the second quarter was about 1.99 Singaporean cents, down 7.1%year over year.

*Keppel REIT reportedsecond-quarter DPU of 1.61 Singaporean cents, down from 1.72 cents in theyear-ago period.

*CapitaLand CommercialTrust logged second-quarter DPU of 2.20 Singaporean cents, a 0.5%increase from the same period last year.

Capital markets

*Kaisa Group HoldingsLtd. has filed to list several debt programs on the Singapore bourse.

Thenotes comprise the estimated US$259.5 million exchangeable bonds and theapproximately US$277.5 million senior notes both due 2019; the US$610.4 millionsenior notes and US$499.4 million senior notes both due 2020; and the US$665.9million senior notes and the estimated US$721.4 million senior notes both due2021.

Separately,the group said it expects to resume trading in Hong Kong in January 2017,subject to the fulfillment of several conditions.

*Dalian Wanda CommercialProperties Co. Ltd. plans to issue 2 billion yuan of five-year corporate bonds.

* ARegal Hotels InternationalHoldings Ltd. unit is listing US$350.0 million 3.875% due 2021 on the Hong Kongbourse.

*Greenland Hong Kong HoldingsLtd. agreed on a placement deal for the issuance of unlistedUS$120.0 million 5.625% senior perpetual capital securities under a US$2.00billion medium-term note program.

Itis also planning toissue US$450.0 million of notes with an annual interest of 3.875% due July 28,2019.

*Japan Hotel REIT InvestmentCorp. plans to issue a total of 428,260 new investment units priced at¥81,536 apiece to raise around ¥34.92 billion.

*China Resources LandLtd. signed a loan facility deal worth 3.00 billion yuan,with a three-year maturity with an undisclosed bank.

* AFrasers CentrepointLtd. unit issued US$200 million of 2.50% notes due 2021 under itsS$3.0 billion multicurrency debt issuance program.

Now featured on S&PGlobal Market Intelligence

: PricewaterhouseCoopers'resignation as auditor of embattled mainland developer Kaisa could be anothercase in point highlighting the potential compliance risk inherent in Chinesecompanies listed offshore.

: The July 22edition of Asia-Pacific property news recap also features the property sales ofGPT Group and DEXUS Property in Melbourne and the debut of a UOL Group unit'sPan Pacific brand hotel in Beijing.

: The creation of the U.K.'s biggest residential REIT,Propertylink's global investor roadshow and a new Spanish REIT's debut madenews during the week.

: S&P Global Market Intelligence presentsa weekly rundown of recent significant management and board changes andpersonnel moves in the European and Asia-Pacific real estate industries.