Some provinces roll out free/disc tickets policy for tourist attractions.
Inter-provincial tours recover to 90% of same period ‘19. (The Paper)
lists 4 commercial/resi sites in Zengcheng (2), Yuexiu, Panyu districts. Total start price Rmb9.2b, site area 234,200m2. (Guandian)
Ronshine / CIFI JV acq’d a resi site in Minhang, Shanghai
for Rmb4.5b, fl px Rmb54,814/m2. Other 8 bidders incl Poly Devt, Jinmao, Sunac, Longfor. (The Paper)
Land acq’d a mixed site in Chongqing for Rmb1.9b, plan construction area 174,914m2: resi 169,968m2, retail 2473m2, office
Shenzhen Govt accelerates urban redevelopments adjacent to the SZ-HK cooperation zone
Guangzhou relaxes home purchase restrictions for qualified talents
qualified talents who have worked in Guangzhou for >6mths can purchase a house.
Beijing government regulates short rental housing
the operation of short rental housing must be agreed by other property owners in the same community.
CIFI acquires a land parcel in Shanghai
in Minhang District, for RMB4.5bn with land premium of 40.55%. Average land costs stood at RMB54,814 psm.
builds a 23ha pig breeding base in Dongying, Shandong. (The Paper)
Kaisa Jul contract sales Rmb9.5b
(+78%YoY), GFA 561,279m2 (+50%YoY). Jan-Jul Rmb45.6b (+14%YoY), GFA 2.68m m2 (+15%YoY). (Co)
Ka Shing Foundation bought total 800,000 CK Asset shrs @ avg HK$41.3669/sh Aug 7. Li Ka-shing’s stake in CK Asset
from 35.30%, Victor Li’s stake ↑to
35.39% from 35.37%. (Co) Clearly
the family think the stock is cheap here, though they are now close to
their creeping limit.
I maintain a company buyback would be a good idea, with cost of debt
below cost of equity. In HK you must cancel bought back shares as soon
as is practically possible. This would drive EPS, DPS & NAV/share
accretion, benefiting all shareholders & would
also boost the Li family holding. Its like buying CKA’s assets, at
wider than half price. Seems like a simple risk/reward equation to me.
Surely this would be better for everyone. We have selling in this name
new homes sold over w/e. (HKET)
puts 53 units in Regency Bay, Tuen Mun up for sale this Fri, price HK$15,652-19,224/ft2. Co already sold 152 units (93% available for sale) for HK$1b since
Most HK developers skipped Shouson Hill tender by the US govt
Only CKA is known to have submitted a bid for the property (tender
closed July 31). The plot in Deep Water Bay, which can be redeveloped
with up to 70,500 sqf GFA, is valued at HK$3.2-3.5bn. … not far from
the Li family compounds
SHKP to launch 53 units of Regency Bay in Tuen Mun this Fri. (Apple Daily)
the price list for 53 units of Regency Bay in Tuen Mun. ASP for the new
batch is HK$17,747 psf. So far has sold 152 units of the project for
HK$1bn, or HK$18,530 psf.
Stan Group to sell HK$6.5bn of HK props (HK-01)
controlled by famed private property investors Mr. TANG Shing
Bor, has put up HK$6.5bn of properties for sale in HK year to date,
& HK$14bn in past 2yrs per an estimate by HK-01. The co indicated
it controls HK$80bn of assets.
TANG recently said in an Apple Daily interview that the co has
encountered near-term liquidity pressure a/f an acqn binge pre pandemic.
West Kowloon land sale derailed by the pandemic
The harbourside Arts, Commerce & Exhibitions (ACE) project has
cancelled a tender for bids on the 1.45mn sqf GFA project (retail, hotel
& exhibition, supplemented by office and entertainment spaces).
Resources-Led group buying 65% stake in HK supermkt chain City Super for reportedly $300m. (Mingtiandi)
operators tone down gwth plans. Operators are predicted to take up ~200kft2 new space this yr (vs 800kft2
last yr), given subdued mkt, w/ new take-up xpctd to be driven by
partnerships or mngt agreements w/ asset owners, Colliers said. (Straits
Temasek will not proceed
w/ its pre-conditional S$4b partial offer for Keppel Corp, which breached a key term of the deal a/f posting S$697.6m 2Q net loss.
Tuan Sing to
sell Robinson Point for S$500m. didn’t disclose the buyer, but said it’s a BVI-incorporated entity that is not related to
Tuan Sing. (Straits Times)
Activist Quarz to vote Against ESR-Sabana Singapore REIT merger.
AIMS APAC REIT to Acquire SG Logistics Warehouse for S$129.6m
entered into Put & Call option to buy asset. To be funded w/ net
proceeds from issuance of perps of S$123.5m & debt S$12m. To add
0.18 Sg cents to FY20 DPU of 9.50c,
bringing it to 9.68c
SCA Property FY FFO per unit A$0.1465, est A$0.1508. FY FFO A$140.8m,
FY AFFO A$124.3m, ↓2.4%YoY.
FY net income A$85.5m, ↓22%YoY.
Final distribution/unit A$0.05. Co will not provide FY21 guidance at
this time, will continue to tgt a distribution payout ratio of ~100% of
Blackstone acqrs 4 logistics facilities
from Daiwa House Industry for Y55b ($500m). (Nikkei RE)
Centre govt approves construction of
1m houses under PMAY (Urban).(India Times)
Blackstone is reportedly in talks to acq Rs127.5b
($1.7b) of Prestige’s assets. Assets incl ready as well as under-
construction projects in southern Indian cities. The sale will help
Prestige (net debt Rs81.7b in Mar) pay its obligations. (BBG)
Prestige Estates says no event to trigger any disclosure;
says co. regularly evaluates opportunities
COVID19: Philippines recorded its highest single day case of 6,958 y’day.
Is now speculation of extending MECQ past Aug 18 for a month long
lockdown on Metro Manila/NCR to ease strain on health care sector.
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP, TEAM US, GOOGL US, AMZN US