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Scentre, Henderson post YOY drops in H1 profit; Stockland inks A$687M deals

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Scentre, Henderson post YOY drops in H1 profit; Stockland inks A$687M deals

* Scentre Group posted a profit after tax attributable to members of A$740.0 million for the first half ended June 30, down 49.4% from A$1.46 billion in the prior-year period. The property group's revenue for the period increased 1.6% year over year to A$1.30 billion, while its attributable funds from operations grew 2.9% to A$676.2 million.

* Henderson Land Development Co. Ltd.'s underlying profit attributable to equity shareholders for the first half declined 52% year over year to approximately HK$6.70 billion, with the exclusion of fair value change of investment properties and investment properties under development. The Hong Kong-listed developer's profit attributable to equity shareholders for the period also fell to HK$7.52 billion from HK$15.03 billion in the prior-year period.

* Stockland agreed to divest its 50% stakes in two Sydney properties for A$340 million and buy the remaining 50% interest it does not already own in a third property for A$347 million. The diversified property group is exiting an office building and a shopping center it co-owns with Investa Commercial Property Fund, while taking full ownership of the Piccadilly Centre as part of the agreed-upon transactions.

Australia

* Soilbuild Business Space REIT agreed to pay A$134.2 million for the acquisition of the multi-tenanted freehold office building at 25 Grenfell St. in Adelaide. The Singapore-based real estate investment trust intends to partly finance the purchase agreement with Credit Suisse Group AG using a portion of the proceeds from its recently launched S$101.8 million preferential offering.

* The development arm of Victoria's government is selling the Ballarat GovHub complex in a deal that could fetch up to A$115 million, The Australian reported. The marketed development is expected to be completed by December 2020 and will feature four levels of office space spanning 10,843 square meters, as well as two basement levels with about 220 parking spaces and end-of-trip facilities.

* Macquarie Bank Ltd. received approval for its proposal to build two office buildings atop the new metro station in Martin Place, Sydney, The Australian reported. The green-lit projects will respectively rise to 39 stories and 29 levels and will have capacity for an estimated 9,000 workers.

Hong Kong and China

* Regal Hotels International Holdings Ltd. expects to post an approximately 30% year-over-year rise in its first-half profit. In addition, Paliburg Holdings Ltd. expects to post a 50% year-over-year decline in first-half profit, while Suncity Group Holdings Ltd. expects its loss attributable to owners for the period to narrow by 15% to 25% year over year.

* Poly Property Group Co. Ltd. said it terminated negotiations with Hsin Chong Group Holdings Ltd. in regard to a potential investment in the Hong Kong-listed construction, engineering and property development company.

* New World Development Co. Ltd. obtained approval from Hong Kong's Town Planning Board to develop a 3.74 million-square-foot commercial building in the Hong Kong SkyCity complex, Wen Wei Po reported.

* Employees at 10 of CK Asset Holdings Ltd.'s hotels were asked to take one day of unpaid leave in August and two days in September due to a slowdown in the arrival of tourists since the start of the city's political unrest, Ming Pao reported, citing an unnamed source.

* Shenzhen Investment Ltd.'s contracted sales in July fell 0.7% year over year to about 426 million yuan. The company's contracted sales area for the period also declined by 10.3% to 18,362 square meters.

Singapore

* SPH REIT's trustee established a S$1 billion multicurrency debt issuance program to raise funds for general working capital, capital expenditure and corporate requirements, as well as refinancing initiatives. The Singapore branch of The Hongkong and Shanghai Banking Corp. Ltd. and Oversea-Chinese Banking Corp. Ltd. are the arrangers and dealers of the program.

* Yanlord Land Group Ltd. unit Yanlord Land (HK) Co. Ltd. plans to issue US$400 million of 6.80% senior notes that will mature Feb. 27, 2024. The notes are expected to be issued Aug. 27.

Japan

* Mitsubishi Estate Logistics REIT Investment Corp. and LaSalle LOGIPORT REIT received the Comprehensive Assessment System for Built Environment Efficiency Real Estate Certification for their Logiport Sagahamira and Logiport Hashimoto properties. Both properties garnered S-rank certifications from the evaluation system, which ranks buildings and structures in terms of their environmental performance.

Malaysia

* From Sept. 1, Bank Negara Malaysia will make its 1 billion-ringgit home-loan scheme available to first-time homebuyers with a maximum monthly household income of up to 4,360 ringgit, The (Malaysia) Star reported. Previously, the scheme was only offered to those with a household income lower than 2,300 ringgit.

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.

Ian Cruz and Emily Lai contributed to this report.