Interesting move LOWER in Real Estate shorts over past wk.
Has the value rotation started?
![](http://www.zfsj.org/images/2020110201.png) Source: Markit
Aug
new RE (primarily housing) sales ↑ 1.6%YoY,
val of new homes sold YTD ~Rmb9.7b. (Mingtiandi)
Some
devrs in Henan province say price disc do more harm than good; they won’t offer disc. (Paper)
Evergrande
acq’d a commercial & resi site in Shanghai Nrth Bund for Rmb2.3b or HK$51,000/m2. (Paper)
Suning
may exit Rmb20b invsmt in Evergrande to repay debt if Hengda RE fails to succeed in a domestic stock listing by Jan. (Time Wkly)
China
Jinmao to acquire 60% interest in 3 Qingdao projects for up to Rmb18m. (Co)
Aoyuan
Healthy to buy 55% stake in Zhejiang Liantianmei for Rmb691m, to hold 60% of tgt. (Co)
New home sales volume rose 12% YoY in 17 major cities last week (CREIS)
strong gwth in T1 (48%) but softening tread in T3 (11%) / T2 (1%) cities.
Country Garden (2007 HK): credit rating upgraded to investment grade Baa3by Moody’s (Sina)
S&P still rates it sub IG
Evergrande Vehicle
(708 HK) to issue RMB shares, list on the Sci-Tech Board of SH Exchange (Co)
HK
unemployment rate steadies at 6.1% for Jun-Aug period. (Standard)
Survey says 20% of HKs considering emigration
(HK01)
45% of which hope to implement plan in 2yrs.
Strong local foot traffic at shopping malls this weekend
(HKET)
SHKP submits modified plan to Town Planning Board for High Speed Train Terminal site (HKEJ)
Retail GFA expand 90% to 600k sqf, office will shrink 286k sqf to 2.56mn sqf. Office heights will
↑ed 27% to 115m, but # of office towers from 3 to 2.
HK
logistics prop sector overall vacancy rate may ↑ to 3%
in 2020, vs 1.6% in 2019. (SCMP)
There
were 230 new homes sold on Sat. (HKET)
CCL
Index -0.62%WoW, Mass Index -0.54%WoW, Small & Medium Index -0.55%WoW, & Large Index -0.99%WoW. (Centaline)
Evergrande
buys a site in New Territories from Henderson for HK$4.7b, to build 400 villas. (Mingtiandi)
Kowloon
Devt to distribute Polytec shrs as div, distribution represents 71% of Polytec’s sh capital & Kowloon Devt’s entire stake in
the co. Polytec will no longer be a subsidiary of Kowloon Devt. (Co)
SHKP
sold 130 out of 133 units in Wetland Seasons Park phase 3 on Sat, then
launched
38 more units at HK$12,407 – 16,118/ft2 effective price. (HKET)
Henderson
Land sold 74 out of 80 units in Two.Artlane for HK$520m on Sat. (HKET)
Li
Ka Shing Foundation bought 600,000 CKA shrs @ avg HK$41.0488, HK$41.32 & HK$40.8775/sh on
Sep 14, 16 & 17. Li Ka-shing’s stake ↑to
35.56% from 35.54%, Victor Li’s ↑to
35.62% from 35.61%. (HKEX)
OUE
C-REIT not in exclusivity arrangement over sale of assets. (BT)
>>>
This is in response to an article published on Friday in The Biz Times titled "Will
OUE Commercial Reit sell some of its assets?"
Verdale
sold 50% of the 78 launched units over w/e in a project jointly devped by COLI & CSC Land. (BT)
Lend Lease Intends to cut 15% (240pp) of British staff.
Last
mth (investor day) said revenue xpctd to double over time as they
monetise +$100bn order book. UK key projects Int’l Qtr & Euston
Station.
Australia
unemployment rate unxpctdly ↓
to 6.8%, employment
↑ largely by part-time work. (BT)
Cromwell
Property suspends DRP in respect of Sep quarter distribution. (Co)
Cromwell
says Gary Weiss, Joseph Gersh elected to Board. ARA holds >27%; Tang family 16%. Tang Family supported ARA position contributing to Gary Weiss electioin on 3rd
attempt & Joseph Gersh on 1st attempt, (Biz News Australia)
Goodman Property Trust buys land to extend South Auckland Estate.
Bank
of Japan keeps its aggressive monetary stimulus unchngd. (Japan Times)
PAG
will invest up to ¥840b
(US$8b) in Japanese RE over nxt 4yrs. (Nikkei RE)
Daiwa
Office Investment Corporation chngs in organization & key employees. (Co)
Godrej
Fund Mngt to raise $500m office fund from global investors by early nxt yr. (Mint)
Bank
Indonesia holds interest rate at 4%. (Jakarta)
AREIT
buys Teleperformance Cebu bldg from ALI. The Grade-A BPO devt has GLA 18,092m2. (MB)
PAGCOR data:
of 55 licensed Pogos, only 29 had been issued authorization to resume operations
by Sep 8
L&T
Realty plans to launch 6.85mft2 office project in Chennai. (India Times)
City
Garden JSC / Swire JV to devp "The River" luxury resi in HCMC: 3 resi twrs, total 525 luxury apts. (Co)
S
K govt to invest KRW3.2trn for 15 smart green industrial complexes by 2025. (Korea Joongang Daily)
Taiwan's
central bank maintains policy interest rate at 1.125%. (Taipei Times)
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP, TEAM US, GOOGL US, AMZN US, 9988 HK
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