vacancies in China’s cities soar even as economy reopens. Vacancy rates for prime office bldgs in Shanghai 2Q↑to
20%, & 21% in Shenzhen, both the highest since at least the financial crisis. (BBG)
Beijing 2Q office vacancy rate
↑to 15.5%, the highest since 3Q10, per CBRE. Rent continued to
↓in 2Q, -1.2%MoM; 2019 saw rent -1.4%YoY, biggest
↓since 2010. (Sina)
Hainan proposes new social housing policy
According to the draft, a Haikou household meeting certain criteria
(e.g. giving preference to households
without ownership of a home) is eligible to buy one social housing
unit. The holding period of the social housing unit is 10 years at
High-profile propaganda on successful anti-home price speculation from Changsha
(the paper) Official media released an article detailing how Changsha has successfully contained home price speculation.
Canadian coffee chain Tim Hortons plan to open 20 new
stores in Beijing by end-2020. (China Daily)
board-sports brand Volcom to expand stores in China.
Capital to invest Rmb1.5b to bld 45,000m2, its 2nd data centre in Huizhou, Greater Bay Area. (SCMP)
put 34 units in Koko Hills resi project, Cha Kwo Ling up for sale. Sold a unit for HK$62.74m
or HK$31,000/ft2, both hit highest in the area. (HKET) … but then >>
Wheelock closes KOHO Hills showflats (Apple Daily) In response to the surge in COVID-19 cases, Wheelock
will close its KOKO Hills showflat for 2 days and has cancelled its sales launch of 44 units this Friday.
Tuen Mun new resi projects put total 112 more units up for sale.
50 units from SHKP’s Regency Bay, price HK$15,372-21,012/ft2 a/f max 22% disc;
62 units from HK Ferry / Empire’s Seacoast Royale, price HK$12,490-17,035/ft2 a/f max 6% disc.
20-26 July 2020, total primary sales volume in 32 key cities tracked +14% YoY
vs +9% YoY in previous week (CREIS)
Mapletree North Asia Commercial Trust reported Q1 (Jun)
update (Co) Festival Walk (FW) retail sales fell 38.6% YoY, while footfall dropped 44.9% YoY. FW retail rental reversion
-10%, or 15% if including short-term renewals. Occupancy was 99.3%.
F&B operator Tsui Wah leases Jordan street shop location
(Apple Daily) Tsui Wah leased a street shop location in Jordan for HK$230k per month (HK$50 psf), 42.5% lower than the
prior lease struck in 2017. The new rent is back to level last seen in 2002.
6 primary market sales transacted on 28 July
(HKET) Six primary market transactions were recorded on 28 July, including two luxury apartment at Lai Sun/ Empire Group’s
Alto Residences in Tseung Kwan O. Both units were sold at HK$81mn, or at effective ASP of HK$23.0k psf.
to occupy 60,000ft2 at 34 Boon Leat Terrace in Singapore as a fulfilment centre. (Biz Times)
ESR-REIT’s issue price is S$0.4018 per DRP unit,
a 2% disc to volume-weighted avg traded price per ESR-REIT unit. (Co)
Temasek’s deemed interest in
CapitaLand Retail China Trust↓to 36.85%
from 37%. (Co)
CapitaLand Retail China Trust entered into a facility agreement
which contains a prepayment event
if CRCT ceases to be mngd by the Mgr or a wholly owned subsidiary of
CapitaLand Financial Ltd or any other entity as may be agreed
b/w lender & borrower. (Co)
Hall sells $203m block in Waypoint priced @ A$2.61/sh, 4.4% disc to close. (AFR)
PwC Tower adds 39,000m2 premium office space to the mkt. Highest commercial tower block in ACK. (Stuff)
Ingenia purchases Sunnylake Shores Lifestyle
Community for A$16m.
INA closes FY20 w/ 325 new home settlements despite disruption to sales
momentum as Covid-19, just below record 336 settlements achieved in
179 deposits & contracts on hand at June 30. (Mkt Herald)
to have 70% of staff WFH,
50%, per Nikkei. Rival KDDI Corp will do similar (Kyodo News)
Daiwa House devping mixed-use bldg near Yokohama Station. (Nikkei
Heiwa acqrs Nihombashi-Kabutocho office bldg from Hulic. (Nikkei
Phoenix Mills opens 1mft2 Phoenix
Palassio mall in India. (Inside Retail)
E-commerce co Coupang will
invest KRW100b ($83m) into its new logistics center in Eumseong, North Chungcheong, total 99,173m2, due to be completed in Aug ’21. (Korea Joongang
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP