Shenzhen suspends approval of commercial apts;
encourages conversion of approved ones to talent housing. The city will ↓proportion of commercial land
+ ↑proportion of resi land. (The Paper)
Shenzhen will supply 198ha industrial sites this yr.
Already supplied 95ha YTD. (The Paper)
New home sales volume
↑17.5%YoY last wk in 18 major cities, w/ double-digit % growth across city tiers, according to CREIS. (CREIS)
Chengdu resumed the 2-rounds review process for lots drawing on new home units launches. Chengdu simplified the process in March
2020 in order to stimulate demand. (The Paper) >>> tightening measure in Chengdu xpctd, but this measure is much lighter.
Ever Sunshine (1995 HK) reported +ive earnings alert. The unaudited consolidated net profit and the profit
attributable to sh/ldrs in 1H20 are expected to ↑ >80% and 60%, respectively. (Co)
>>> Eric: 1H earnings growth seems stronger than our expectation of 40%~50%.
Alibaba agreed to subscribe shares and convertible bonds of E-house.
è Alibaba will
↑ stake in E-house to 8.32% if CBs converted, & become 2nd largest sh/ldr. E-house entered into a cooperation agreement with Alibaba under which
both parties agree to cooperate to build an online real estate marking & transaction platform. (Co) >>>
price of HK$10.37 is lower than last closing price of HK$11.2.
Alibaba’s acquisition of E-house stake may be a strategic move to
compete with the alliance between Homelink (Beike) and Tencent.
R&F won a tender of urban renewal project in Dongguan, 120k sqm, mainly consists of old factories. R&F established
the urban renewal group in Dongguan in Jan-2020, and now has acq’d 10+ urban renewal projects in Dongguan. (CCGP)
Country Garden to buy an elevator-focused ad firm City-Media
(delisted last yr). Price cld reach Rmb1.5b. Purchase set to boost CGS’ EPS ~2% annually nxt 3yrs. (Sina)
Evergrande may spin off property mgmt biz in HK.
The separate listing cld raise $1b~$2b. (Co)
Gemdale 1H profit attributable to owners of the Co will
↑by not <35%. (Co)
Kaisa (2168) +VE profit alert (1H NP +30%)
CC Land (1224) -VE profit warning (1H to turn to loss)
Updated Rt 0.9387, up from 0.85, but still holding below 1.
HK blocks 12 democrats from election.
HK "would not rule out regulating the press”,
per Ta Kung Pao. (Yahoo, Ta Kung Pao)
200 new homes sold during w/e.
Ferry / Empire Seacoast Royale sold out all of the 185 units they put up for sale, price HK$11,961-17,035/ft2. (HKET) SHKP sold 36 of 54 units at Regency Bay for sale on
Sat, a 67% sell-thru. Effective ASP HK$17.7k/ft2. Devr also tendered out a special unit at HK$17.02mn or at a record high effective ASP of HK$24.6k/ft2. (Wenweipo) Not a bad result in light of Typhoon
Mr. TANG Shing Bor admitted that Stan Group (headed by youngest son) has been tapping bridge loans
& selling assets to raise funds & ease cash crunch. Reportedly spent HK$10b on acqns prior to pandemic. (Apple Daily)
construction workers at NWD/ MTRC’s Tai Wai Station project infected; work temporarily halted. (ST Headline) >>> unlikely to affect the expected project
2ndary market supply may soon rise on the lapse of Special Stamp Duty (SSD) for 10k units.
More owners may now
choose to sell immediately when they are no longer subject to SSD due
to an uncertain outlook for home prices / economy. (Apple Daily)
Swire Prop: 100% occupancy at Pac Place mall Apr-June,
H1 sales ↓47%. (Co)
A bright spot in office sector
invsmt: 2Q $1.3b chngd hands, ↑68.9%QoQ, thanks to notable deals such as sale
of 50% stake of AXA Tower by Alibaba, & 30% stake of TripleOne Somerset by Shun Tak. (Edge Prop)
condos at Sophia Rd to be up for collective sale w/ S$64m indicative price. A/f factoring in potential bonus GFA for balconies, the
land rate will be ~S$1,195/ft2. (Biz Times)
Reit explains S$54.7m ↓in assets’ fair val: Ongoing pandemic
affecting assumptions on mkt rent & mkt rent gwth rate. (Biz Times)
Far East H-Trust DPS
for H1 ↓43.4%YoY to 1.03 S cents. Gross revenue
↓20.6% to S$44.3m, NPI
↓23.1% to S$38.6m. (Biz Times)
Regional prop mkts significantly
outperformed city mkts on avg over past yr, new rsch indicates median prices in regional areas
↑3.4% for the yr to June 30. (AFR)
refocus build-to-rent strategy to NSW a/f 50% cut on land tax. (AFR)
will purchase 4 Japan logistics facilities in Greater Tokyo & Greater Nagoya from Daiwa House for
￥55b ($523m). Daiwa House will continue to manage the facilities. (Nikkei)
Ichigo Invsmt Advisors is reorganizing its sales structure &
eliminating its Acqn & Sales Division. (Co)
Ichigo Asset Mgt’s stake in Open House
↑to 6.16% from 5.03%. (Kabutan)
PGGM Vermogensbeheer B.V's stake in GLP J-Reit
from 7.03%. (Kabutan)
Worsening Virus Spread Hurts Mitsui Fudosan's Income: 1Q Preview (BBG)
Brookfield reportedly planning to pick up 50% stake across office
projects of RMZ, deal will be worth Rs 40b-56b ($535-750m). (VCCircle)
Pakuwon Jati First Half Net Income 482.55 Bln Rupiah (Bloomberg) - 1H revenue 1.97 trillion
Ciputra Development First Half Net Income 169.51 Bln Rupiah (Bloomberg) - 1H revenue 2.8 trillion rupiah; 1H EPS 9 rupiah
PSE index closed below the 6000-point threshold for 1st time in 9 wks.
lockdown on Metro Manila & NCR; 2Q GDP results Thursday; July
inflation this week. Xpectations 2Q GDP could fall as low as -20% YoY.
President Duterte tightened Metro Manila and the NCR’s lockdown status to MECQ effective Aug 4.
No public transport; Only public shuttles will be allowed to service
front-liners; Hotels will open only for basic lodging; Malls can
maintain occupancy rate at 50% capacity; Restaurants lowered to 50%
capacity and no dine-in; Leaving homes will only be to
obtain essential goods or work in industries exempted (healthcare,
supply chains, pharma, groceries, telecom). Banks to give 30-day grace
period for any loan that fall due during MECQ status; Gatherings are
limited to 5; All gyms and sports facilities will
be closed. Govt offices will drop to a skeletal workforce compared to
alternative work arrangements
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP