* Oxford Properties Group Inc. added 19 more properties to its Australian portfolio with the completion of its A$3.4 billion takeover of Investa Office Fund. The real estate arm of the Ontario Municipal Employees Retirement System changed the ownership vehicle for the portfolio to Oxford Investa Property Partners, following the deal's completion.
* Dalian Wanda Group Co. Ltd. earmarked 12 billion yuan for its plan to develop a theme park in Yan'an, China, the South China Morning Post reported. Construction of the planned development that will span 1.26 square kilometers is expected in the first quarter of 2019, with completion slated for the first half of 2021.
Hong Kong and China
* Vanke Property (Overseas) Ltd. is anticipating an annual increase of at least 300% in its profit attributable to the shareholders for the year ending Dec. 31. The Hong Kong-listed real estate developer said the bullish forecast was mainly credited to a significant increase in the profit share of an unnamed associate.
* Hopson Development Holdings Ltd. is selling an office building in Beijing to an 85/15 joint venture between AEW and private equity investor Hony Capital under a 4.5 billion-yuan agreement, Mingtiandi reported, citing sources familiar with the transaction.
At the center of the Cushman & Wakefield-brokered deal is the 21-story property within the Beijing Oriental Culture and Art Center in the city's Dongcheng district, which also includes a separate office building and a concert hall.
* A subsidiary of China Reinsurance (Group) Corp. agreed to acquire a building in Shanghai's Pudong New District from Shanghai Fuyuan Binjiang Development Co. Ltd. for about 3.09 billion yuan. The targeted property within the Shanghai Fuyuan Landmark Plaza Project has an above-ground sellable gross floor area of roughly 36,000 square meters.
* Joy City Property Ltd.'s Charming Land Ltd. subsidiary secured the rights to buy an approximately 76,585-square-meter mixed-use site in Chengdu, China, after offering to pay nearly 1.52 billion yuan during an auction administered by the Land Planning and Development Bureau of the Management Committee of Chengdu Tianfu New District of Sichuan.
The contract for the impending acquisition is expected to be signed on or before Jan. 31, 2019, according to a filing.
* HNA Group Co. Ltd. tapped China Development Bank to head a team that will oversee its disposal of assets, Reuters reported, citing people familiar with the situation. The news of the appointment surfaced following the finance-to-real estate Chinese conglomerate's confirmation of its plan to sell 7.6 billion yuan of assets in mainland China, including a 2.65 billion-yuan commercial complex in Beijing.
* Darren Steinberg, Dexus' CEO, was cited by The Australian as predicting a further increase in the value of prime office buildings in Australia. The executive's optimistic forecast for 2019 was based on factors including the continuous demand from global and local investors.
* The Housing & Development Board's public tender for a 3.8-hectare mixed-use white site in the city-state's Pasir Ris Central area attracted three bids, The (Singapore) Straits Times reported. Competing for the 38,003.7-square-meter commercial-and-residential land parcel are Far East Organization Pte. Ltd., Singapore Press Holdings' joint venture with Kajima Development Pte. Ltd. and two companies co-owned by Kerry Properties Ltd.
* Sumitomo Realty & Development Co. Ltd. and Sumitomo Corp. will jointly sell on Dec. 17 311 units in the 29-level City Tower Tokorozawa Classic high-rise condominium in Tokorozawa City, Saitama Prefecture, R.E. Port reported. The project will sit on a 4,012.6-square-meter site and will have a total floor area of 38,529.28 square meters.
* Mitsui Fudosan Co. Ltd. and Mitsui Fudosan Hotel Management Co. Ltd. will in mid-2019 open the Mitsui Garden Hotel Fukuoka Gion, in 2-chome, Hakata-ekimae, Fukuoka City, Fukuoka Prefecture, Mylife News Network reported.
* Vinamra Srivastava, CEO for the Indian operations of Ascendas-Singbridge Pte. Ltd., told Mint (New Delhi) that the company is planning to double its commercial property portfolio in India over the next four to five years and bring its co-working space brand, thebridge, in the country.
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.
Rollen Catorce and John Chan contributed to this report.