* MTR Corp. Ltd. awarded the tender for the 92,269-square-foot site adjacent to its Wong Chuk Hang Station in Hong Kong to Sino Land Co. Ltd. and Kerry Properties Ltd., the South China Morning Post reported.
The pair outbid other developers including Sun Hung Kai Properties Ltd., CK Asset Holdings Ltd., Henderson Land Development Co. Ltd., Wheelock Properties Ltd. and China Resources Land Ltd. to win the 600-home site, which forms the second phase of MTR's development at the Wong Chuk Hang Station.
* In a separate update, MTR Corp. announced its revised estimates for the Shatin to Central Link Project, which it will construct as part of a deal with the Hong Kong government signed May 29, 2012. The estimated cost of the project was increased to about HK$87.33 billion from roughly HK$70.83 billion, and the government, as part of the deal, is required to secure funding for the project.
* Marriott International Inc. agreed to develop two luxury hotels in Malaysia and another two in Japan as part of separate agreements signed with YTL Hotels, the hospitality arm of YTL Corp. Bhd., The (Malaysia) Star reported.
Hong Kong and China
* Dalian Wanda Group Co. Ltd. is believed to have struck a deal in June to sell the Changbaishan International Resort in China to Dalian Yifang Group Co. Ltd., Reuters reported, citing news website The Paper. The value of the 21-square-kilometer ski resort was earlier estimated to be 20 billion yuan.
* Two Wing Tai Properties Ltd. subsidiaries entered an agreement to sell the Winner Godown industrial asset to Sunny Global Development Ltd. for about HK$2.16 billion.
The estimated net proceeds of HK$2.14 billion from the proposed divestment, settlement of which is expected on or before March 28, 2018, will be used by the company and its subsidiaries to finance the group's expansion and for general working capital.
* Shimao Property Holdings Ltd. said it achieved the full-year sales target of the group with roughly 88.71 billion yuan of contracted sales in the first 11 months of 2017, representing 5,311,704 square meters of sales area. In the month ended Nov. 30, the developer saw an 82% year-over-year hike in contracted sales to 10.10 billion yuan from nearly 5.55 billion yuan.
* Beijing Capital Land Ltd.'s and Central China Real Estate Ltd.'s respective contracted sales grew by 79.2% and 53.9% in November to roughly 9.5 billion yuan and nearly 2.80 billion yuan.
* In a bid to attract more customers to its shopping centers in China, the local arm of CapitaLand Ltd. is trying to entice shoppers by using an application that will allow pre-booking of parking spaces and store searching, among other features, the SCMP reported. As of September, CapitaLand China owns S$22.1 billion of properties in the country with 69 shopping centers and 18,000 service apartments.
* Shareholders of New World Development Co. Ltd. voted in favor of the proposed 33 Hong Kong cents per-share final dividend for the financial year ended June 30, which will be distributed to shareholders on record as of Nov. 24.
* Country Garden Holdings Co. Ltd. subsidiary Guangdong Country Garden Property Service Co. Ltd. plans to go public through an IPO in Shanghai by issuing not more than 40.1 million shares, according to a filing to the China Securities Regulatory Commission. The company is looking to raise 1.13 billion yuan, allocating 660 million yuan for marketing and approximately 394 million yuan for information systems upgrade and smart communities development.
* Starbucks Corp. will launch its biggest cafe in the world in Shanghai on Dec. 6. Bloomberg News reported that Starbucks is banking on China to surpass the U.S. to become its biggest market within the decade, prompting it to open the 30,000-square-foot store along West Nanjing Road.
Australia
* Citi's equities research analysts called on Lendlease Corp. Ltd. to consider a spinoff of its A$1 billion-odd engineering business, The Australian Financial Review's Street Talk reported. Based on Citi's estimates, a spinoff would increase the developer's current share price by 37%.
* Chinese-sponsored Greenland Australia Pty. Ltd. tapped construction company Ganellen to build 600 of the 900 units planned at its A$800 million mixed-use residential project in Sydney's Macquarie Park, the AFR reported. As part of the design and construction deal, Ganellen will also oversee the development of the retail space in the 12,531-square-meter component of the project.
* Italian fashion house Versace is launching its first stand-alone store in Australia after finding a home in Melbourne at the 307-square-meter T&G building on Collins St., which is owned by U.S. company Pembroke Real Estate Inc., the AFR reported. The Collins St. stretch, where Versace is leasing under a 10-year contract, is also home to other luxury brands including Louis Vuitton, Dolce & Gabbana, Armani and Gucci.
Singapore
* Frasers Centrepoint Ltd. subsidiary FCL Residences Pte. Ltd. and Allgreen Properties Ltd. emerged as the highest bidders for the residential sites at Jiak Kim Street and Fourth Avenue.
FCL Residences offered to buy the roughly 13,482-square-meter Jiak Kim Street land parcel for about S$955.4 million, while Allgreen Properties, the new owner of the freehold residential sites of Royalville and Crystal Tower, placed the top S$553.0 million bid for the approximately 18,532-square-meter Fourth Avenue site.
* Heeton Estate, a wholly owned Heeton Holdings Ltd. subsidiary, agreed to sell for roughly S$55.9 million The Woodgrove, The (Singapore) Business Times reported. The site has a strata floor area of 5,144 square meters and still has 78 years remaining in its 99-year lease term.
* A portfolio comprising nine conservation shophouses and a commercial building is being sold via public tender by the Lee family of Singapore with a S$91.6 million price tag, The Business Times reported.
Elsewhere in Southeast Asia
* The proposed 834.6 billion-Indonesian-rupiah joint acquisition of PT Lippo Karawaci's integrated development in Yogyakarta by Lippo Malls Indonesia Retail Trust and First Real Estate Investment Trust will be tabled for approval when shareholders of the pair meet Dec. 20, The Business Times reported.
* The retail arm of FPT Corp., Vietnam's biggest information technology company, is planning an initial public offering on the Ho Chi Minh City stock exchange in the first half of 2018, the Nikkei Asian Review reported. Proceeds from the IPO will be used for the planned launch of 100 Apple Inc.-licenced stores in the Southeast Asian country.
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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. Articles and links are correct as of publication time.
Rollen Catorce and Emily Lai contributed to this report.
As of Dec. 5, US$1 was equivalent to 6.62 yuan, 13,516.00 Indonesian rupiah and S$1.35.
