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Demand for Grade A office space
↓45% in 2Q20 in APAC, per Cushman & Wakefield. (EP)
Shanghai Stock Exchange has a pipeline of REITs trial projects focusing on express ways, warehouses / industrial
parks. Technical preparation for REITs trials xpctd to be ready Oct. (Sina)
CBIRC: need to prevent over-financialization
of prop mkt, besides reiterating “house is for habitation, not for speculation”. (Wind)
CBIRC fined Minsheng Bank >Rmb100m due to financing for devrs to aid land purchase. (CBIRC)
MOURD: to promote higher construction standardization & specialization, encourage application of prefab bldgs.(Paper)
4 rental apt operators went bust in last wk; 6 cities issued notice re risk involved in leasing apts. (Sina)
New home sales volume
↑28% YoY in 16 major cities last wk, led by strong gwth in T1 (GZ, SH) & T3 (small sample) cities, per CREIS. (CREIS)
Evergrande launched promotion campaign in Sep-Oct. Offering 30% disc (& even larger disc online), aiming at
Rmb100bn contracted sales for each mth in Sep-Oct. (Baidu)
Evergrande Aug contract sales Rmb51.5b
(+7.7%YoY), GFA 5.3m m2 (+18.5%YoY). Jan-Aug Rmb451b (+22%YoY), GFA 49m m2 (+43%YoY). (Co)
CKA reportedly to sell a resi project in Beijing + Upper West Shanghai
project, total val Rmb50b. Sunac China intends to buy (Standard)
Hangzhou rolls out new
measures: 3yr residency for parents staying w/ their children in the city b/f allowing home purchase. (SCMP)
Shenyang rolls out new measures: down payment for 2nd home
↑to 50%. (Paper)
Guangzhou eases homes purchases
for HK & Macau residents. (Standard) Allows HK/Macau residents to use their properties to back mortgage loans from HK/Macau banks. Centaline xpcts
# of GBA property buyers from HK +20% after recent favorable policies.
Shimao outlook revised to +ive on stable operations, improving
leverage by S&P; 'BB+' affirmed. (S&P)
Sunac Aug contract sales Rmb64b, GFA 4.6m m2; 8M Rmb312b, GFA 22.3m m2. (Co)
Shimao Aug contract sales Rmb29.6b (+37%YoY), GFA 1.7m m2 (+41%YoY);
8M Rmb169b (+19%YoY), GFA 9.6m m2 (+22%YoY). (Co)
COLI Aug contract sales Rmb28.8b (+17.6%YoY), GFA 1.37m m2 (↓9%YoY);
8M Rmb222b (+2%YoY), GFA 12m m2 (↓0.4%YoY). (Co)
CCL
Index ↓0.72%WoW, Mass Index
↓0.93%WoW, Small & Medium Index
↓0.91%WoW, & Large Index
↑0.31%WoW. (Centaline)
Taikoo
Place named as winner at 2020 ULI Asia Pacific Awards for Excellence. (Co News HQ)
SHKP:
Townplace SOHO launches the 3-fl communal space links w/ Townplace Kennedy Town. (Co)
Goldin Fin doesn’t have info that shld be disclosed but has not been
disclosed
re media reports it raised HK$8.7b w/ aid from CK Asset. Unit Goldin
Factoring will sell its entire issue shr capital & sh/ldr’s loan to
Power Alpha for
HK$2.05b, then cease to be subsidiary. (Co)
Kerry plans to redevp
Kerry Hung Kai warehouse in Cheung Sha Wan into 3,647-unit residence. (Standard)
38
new homes sold over w/e (HKET,
HKET)
SHKP sold 10 units @ Regency Bay, Tuen Mun
(HKET)
Sunac (1918 HK) as a potential buyer for CKA (1113 HK)’s assets disposal
(Caixin)
CKA may plan to sell 2 projects in BJ & SH, worth ~Rmb50bn. Sunac reportedly a potential buyer.
Would seem inconsistent w/ deleveraging if they were tho.
Sino land to launch nearly
1,000 apartments for sale in Q4 (HKEJ)
3 projects. 1st should be Silversands in
Ma On Shan (160 units), then URA project in Mong Kok (Sino 60%) (300
units), & JV w/ Wheelock + 3 other dvprs in Cheung Sha Wan (Grand
Victoria) (Sino 22.5%). + will cont to sell high-end units at St.
George’s Mansions.
Rent yld of high-end apts
↓ to 1.8% (HKEJ) Per R&V, rent
yld of large units (>1,722 sqf) only 1.8% in July as price ↑
1.65% MoM. Rent for large apts
↓
6.9% in 7M20 while prices
↑
9.3% (vs.
↑
1.5% for HK overall).
3
presale consents issued in Aug (HKEJ)
Lands
Department did not receive any pre-sale applications in Aug; issued 3
consents with 555 units in total: Wetland Seasons Park Phase 3 (SHKP;
318 units), To Shek Street Phase 1 (SHKP)
& Villa La Plage in Tuen Mun (Poly; 41 units)
Nearly 1,800 new homes waiting to be sold (Apple
Daily) Due to 2H19 social unrest + pandemic in 2020, dvprs have now
accumulated nearly 1,800 new units waiting to be launched. Inc CKA’s
Borrett Road & SHKP’s Central Peak projects.
Daryl Ng, Deputy Chair of Sino Group, admits providing funding for HK Community Foundation (Apple
Daily)
At
least 289 people arrested on Sun @ rallies re postponed election day (SCMP)
Frasers Centrepoint Trust to acq remaining 63.1% in Asia Retail
Fund for S$1.06b.
To be funded by S$1.39b equity private placement. Also seeking to divest Bedok Point
for S$108m. (Co, BT)
Merger may be bad deal for CapitaLand Commercial investor. (React) (BBG)
Singapore
starts fast lane for essential biz & official travel w/ S. Korea. (BT)
Parkway Life REIT will join
FTSE EPRA NAREIT Global Developed Index a/f biz close on Sep 18. (BT)
City Devts sells 16 units at Nouvel 18
at avg S$3,100/ft2 special promotional prices, mostly to Chinese. (EP)
Keppel DC REIT gets S$150m 6yr revolving credit
facility. (Co)
COLI & CSC Land’s Bukit
Timah condo Verdale attracts 268 viewings during w/e preview launch. (BT)
Quarz, Black Crane
ask Sabana REIT trustee to form opinion whether mgr failed to follow trust deed terms. (BT)
NED of Soilbuild
REIT mgr Lim Chap Huat signs term sheet for possible transaction of interests. (BT)
Ascott:
new partnerships w/ Capitastar & Credit Cards
to offer more perks to Ascott Star Rwrd Mbers. (Co)
AMP Capital’s
Diversified Prop Fund to sell a landmark office park in Syd's Macquarie Park for A$300m. (AFR)
Former
Academy Twin Cinema in Syd to be transformed into a 100-plus-key boutique hotel. (CRE)
Mirvac CFO Shane Gannon, Retail Head Susan Macdonald
to leave. (Co)
Bank of Japan purchases Y1.2b of J-REITs on Sep 4. (BBG)
Ichigo Office total portfl occupancy 97.9% in Aug,
↓1ppt YoY. Office assets’ 98%,
↓1.1ppt. (Co)
Keiji Hanawa's stake in Ki-Star RE
↑to 49.46% from
48.41%. (Kabutan)
India's
unemployment rate ↑ to 8.4%
in Aug. (India Times)
IHG anncs 200-key Hotel Indigo at Pantai Indah Kapuk in Jakarta,
to open in 2022. (Hotel News Resource)
Philippine Competition Commission green-lit DMC’s acqn of Makati-based office bldg assets
of PLDT. Incl 2 Smart Towers + their 2,400m2 lot in Makati City. (BW)
Filinvest preparing to put up senior dollar bonds abroad,
proceeds to invest in infrastructure projects. (BW)
Vietnam resumes flights to some
Asian cities as curbs on biz travel ease, incl Guangzhou, Seoul, Vientiane, Phnom Penh, Taipei & Tokyo. (BT)
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP, TEAM US, GOOGL US, AMZN US, 9988 HK
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