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Lead 23 billion sell 17 mall valuation 52%

2017-11-29-(Wed)
【28Hse.com】  

Quijixi Capital consortium purchase completed in February next year

Hong Kong Wen Wei Po (Reporter Leung Yue Qin, Su Hongqiang) As early as this year plans to large-scale sale of its shopping malls of the Real Estate Investment Trust (0823) yesterday announced that it has completed a strategic assessment of its portfolio, through the competitive sales process to sell 2.3 billion It owns 17 shopping mall properties and signed an agreement with a consortium led by GV Capital, which will become the asset manager. The sale of properties will be completed on February 28 next year. The net proceeds from property sales amounted to HK $ 7.4 billion for a price 52% above the property's valuation as at 30 September 2017.

According to the announcement, the 17 shopping centers for sale at the show include HANDS (stable and fraternity-friendly shopping mall) in Tuen Mun, Lohas Plaza in Wong Tai Sin, Cheers Shopping Center, Lee On Market in Ma On Shan, Kam Tai Shopping Center, Shek Lei Shopping Center in Kwai Chung, Kwai Fong Plaza, Fanling Yung Shing Shopping Center, Kowloon Bay Kai Yee Shopping Center, Cheung Sha Wan Lei Cheng Uk Shopping Center, Suntime Shopping Mall, Tsing Yi Shopping Center, Kwai Shing East Shopping Center, Lai Kok Shopping Center, Tai Wo Hau Shopping Center and Cheung Hang Shopping Center.

In recent years, nearly 35 billion cash sales of assets

Earlier reports said that the bidding attracted many non-local consortia including the participation of Blackstone, the UAE sovereign fund Abu Dhabi Investment Authority (ADIA) and CITIC Capital under the CITIC Group. Since 2014, LinkShop has successively dismantled 45 shopping malls located in public housing estates and HOS flats, covering a total of nearly 35 billion yuan.

Lead Asset Management maintains close liaison with merchants, residents and other stakeholders in respect of the transfer of 17 property titles. The proceeds from the sale of assets will be used for new investment opportunities in the first-tier cities of Hong Kong and mainland China, as well as debt repayments,Gold repurchase and other general working capital purposes. HSBC, UBS and DTZ Lead Assessments and Property Disposal. After the sale of 17 properties, there will be about 90% of the property located in Hong Kong and about 10% in the Mainland. The total portfolio value will be about 175 billion yuan.

Lead Manager, LeadExpert Asset Management, said that such a high-quality, large-scale retail asset portfolio in Asia is rare and the sale was made to international investors, including global and regional private equity funds, sovereign funds and Local investors responded enthusiastically. The competitive bidding and the final sale price mark their confidence in the economic and retail market prospects of Hong Kong and their ability to manage and optimize their assets.

Wang Guolong said global investors are so keen on Asian assets that they expect to further promote real estate development in the region. He is confident that with his professional knowledge and experience in asset management, buyers will further enhance property operations and create value for stakeholders .

Commercial car sales above last year

Shopping malls have become popular goods. Commercial parking spaces, which belong to non-residential properties, are also popular. Huang Liangsheng, senior joint director of the Central Plains Real Estate Research Department, pointed out that the number of commercial sale of commercial vehicle parking spaces registered in this year was tentatively recorded at 173 and just surpassing 168 in 2016. The amount was tentatively recorded at $ 375 million, down from about $ 403 million last year to make. The bank believes that it will record about 220 cases and 45 billion HKD this year and will raise about 30% and 10% respectively year on year.

This year, a larger number of commercial vehicles have been registered as Park Lane in Tuen Mun. There were 26 and 18.88 million were tentatively recorded. Followed by Shimen Xindu Square, 24 were tentatively recorded and 40.82 million yuan. The third, 650 Cheung Sha Wan Road, tentatively recorded 15 and 37.5 million yuan.

As for the number of contract for sales of commercial vehicles in October, there were 22 cases and 42.69 million yuan, up 57.1% and 25.5% respectively from the previous month and the same rise of two months and a record 5-month high. Of them, 12 cases and 19.25 million HKD were recorded in the New Territories, up 1.4 times and 1.8 times respectively over the previous month. Nine cases in Kowloon recorded an increase of 50% and $ 21.28 million respectively, up 75%. Hong Kong Island recorded only 1 case and 2.16 million yuan, down 66.7% and 85.6% respectively.

Translated by 28Hse.com . All right reserved.