In today’s roundup of regional news headlines, shares of China Vanke’s property management spin-off Onewo tumble more than 7 percent in their first day of Hong Kong trading, and the Bank of China readies the sale of its former building in downtown Sydney.
Onewo, the property management unit of developer China Vanke, slumped in its Thursday trading debut in Hong Kong.
Shares in the spinoff fell 7.6 percent to HK$45.60 after being sold at HK$49.35 each, the midpoint of the marketed range. The IPO raised about HK$5.8 billion ($740 million). Read more>>
The Bank of China has tapped real estate agents for advice on the sale of its former building in Sydney’s central business district, with the York Street asset tipped to sell for more than A$80 million ($51.8 million).
The bank’s offer comes as Chinese investors and developers retreat from the CBD. Read more>>
China’s central bank vowed to expand a special lending programme if it’s needed to ensure the delivery of delayed housing projects, and called on banks to provide financing support for this effort.
China will roll out city-specific property policies to support demand, implement special loans dedicated to ensuring property completion and increase its magnitude within reason, the People’s Bank of China said Thursday. Read more>>
CLSA, the international unit of China’s largest broker, CITIC Securities, said Monday that vice-chairman Charles Lin has stepped down from his role.
Lin, who was hired in April 2020 to the top role at CLSA, resigned from the Hong Kong-headquartered investment bank earlier this month but will serve as the vice-chairman of its board until the end of September, a company spokesman said. Read more>>
The managers of Ascendas REIT, Ascott Residence Trust and Ascendas India Trust issued announcements relating to a change of names of their entities and their managers.
With effect from 27 September, Ascendas REIT has been renamed CapitaLand Ascendas REIT, Ascott Residence Trust has been renamed CapitaLand Ascott Trust, and Ascendas India Trust has been renamed CapitaLand India Trust. Read more>>
Singapore’s Urban Redevelopment Authority and Ministry of Health on Thursday put a site at Parry Avenue up for sale via tender. This will be for a pilot private assisted living development with senior-friendly features.
The land parcel comes with a 60-year lease and is zoned for residential use. It spans 12,912.1 square metres (138,985 square feet), and the gross floor area can range between 16,270 and 18,077 square metres. The maximum building height is five storeys, and land and strata subdivision is not allowed. Read more>>
Singapore-listed First REIT has secured a JPY 1.7 billion ($12 million) non-recourse social loan from Japan’s Shinsei Bank, which has partially funded the REIT’s JPY 2.6 billion acquisitions of two nursing homes in Japan.
The remaining financing of Loyal Residence Ayase and Medical Rehabilitation Home Bon Sejour Komaki was funded by Singapore-dollar debt, the REIT’s manager said Thursday. Read more>>
China’s property sector still poses “large risks” to shadow bank lending amid ongoing liquidity stress, despite the falling proportion of shadow banking in the industry, Moody’s Investors Service said.
Shadow banks are those that are typically outside regulatory oversight. Read more>>