…l bondholders before the payment grace period ends on Oct. 23. Read more>> SOHO China Investigated for Tax Evasion The Chinese government said Friday it is investigating possible tax evasion by a subsidiary of high-profile real estate developer SOHO China Ltd., the target of an aborted takeover attempt this year by Blackstone Group. The announcement comes amid a flurry of anti-monopoly and other enforcement actions against internet and other priva…
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Tishman Speyer JV Pays $800M for Commercial Site in Shanghai’s Changning District
…actions include the Hongqiao Culture and Art Centre, Changning Library and Soho Tianshan Plaza, a large-scale office, retail and hotel development of Beijing-based Soho China, with analysts pointing to potential demand for the project, even amid a Shanghai office market flush with new space. “Decentralised locations continue to challenge traditional business centres for tenants from high-growth industries,” said James Macdonald, head of research f…
Blackstone Buying Out R&F’s 30% Stake in Guangzhou Logistics Park for $540M
…management titan seems to have shaken off its failed $3 billion buyout of Soho China, the developer controlled by mainland real estate personalities Pan Shiyi and Zhang Xin. In a deal announced in June, entities controlled by Zhang, Soho’s chief executive, had committed to selling a 54.93 percent stake to Blackstone funds. But in September the two parties said the deal had failed to meet unspecified preconditions set out by regulators. Digging Th…
Blackstone Names Justin Wai Head of Greater China Real Estate
…ark Blackstone announced last September that its second attempt to buy out Soho China for $3 billion was also cancelled after failing to win approval from mainland authorities. This year the fund management titan seems to have shaken off its setbacks on the mainland, with Wai’s promotion and Blackstone’s buyout of R&F Properties’ logistics park both being announced less than five months after the backfired Soho deal. Manhattan-based Blackstone, wh…
PWC to Cut Audits of Private Chinese Developers and More Asia Real Estate Headlines
…Powerlong Real Estate, Ronshine China and Hopson Development. Read more>> Soho China Fined $18M for Gouging Beijing Tenants Fifteen Beijing-based property management firms under office developer Soho China were fined a combined RMB 115 million ($18.1 million) on 21 March for charging their clients electricity rates higher than the normal tariff, the Beijing market regulator said. Chinese law states that “no businesses or individuals may levy an e…
SEAHIS 2022 Conference Spotlights Approaches to Boost Hotel Revenue
…tanks and air-conditioning units. A speaker at the SEAHIS 2022 conference “Soho Hospitality strategised a vision for a bold new rooftop restaurant and bar in 2011 at the rooftop of the Fraser Suites Sukhumvit in the bustling Soi 11 neighbourhood,” CEO Rohit Sachdev said Tuesday during a panel discussion moderated by Mingtiandi founder and managing director Michael Cole. After 10 months of design development and construction, the rooftop venue, cal…
Hong Kong Faces 25% Slump From Home Price Peak and More Asia Real Estate Headlines
…ia-Herrero wrote in a report dated Wednesday. Read more>> New York Becomes Soho China Owners’ Haven From Property Crash In a townhouse facing St. Patrick’s Cathedral in Midtown Manhattan, the power couple behind one of China’s greatest commercial property empires is writing the playbook for how to move a fortune out of the Communist nation. Zhang Xin and her husband, Pan Shiyi, who grew Soho China into a behemoth that reshaped the country’s skylin…
HK Investor Lai Wing-to Marketing London West End Buildings as Asset Sales Continue
…average of £87.50 per square foot on the F&B space. This compares to prime Soho office rents of £120 per square foot and F&B rents in excess of £150 per square foot, according to JLL. 30 Percent Decline Lai, who entered the UK market in 2010, revealed to Hong Kong media last year that properties in the British capital accounted for 30 percent of his investment portfolio, with the investor having spent hundreds of millions of pounds snapping up sho…
Questions for Fosun’s CEO Liang Xinjun
…y made the news as part of an awkward partnership with the more flamboyant SOHO China for a development on Shanghai’s Bund. It will be interesting to see what Mr Liang has to say about the outlook for China’s real estate market in 2012, and I will also try to ask him how it is that SOHO was able (if they really were) to buy 50% of that Bund site without Fosun’s permission, if Fosun actually had first refusal rights on the deal. In the meantime, if…
Today’s China Real Estate Links | February 10, 2012
…h, the developer said in a statement filed to the Shanghai Stock Exchange. SOHO China sets 2012 sales target of 23 bln yuan SOHO China, a real estate developer that concentrates on projects in Beijing and Shanghai, said on Wednesday it had set its sales target for 2012 at 23 billion yuan ($3.65 billion).That’s an increase of 15 percent on its 2011 target of 20 billion yuan target. China Vanke, Evergrande Favored, Credit Suisse Says – Video Jinsong…
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