Following those RMB on their way out of town While developers such as Fosun and Greenland have grabbed the biggest headlines in recent weeks with their billion dollar ventures into US real estate projects, these corporate giants appear to be simply following their customers, rather than blazing a new investment trail. Giant Developers Have Made the Biggest Splash The investment numbers for Fosun, which recently acquired the Chase Manhattan buildi…
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SOHO China’s Zhang Xin Beats Out Brad Pitt to Buy NY Townhouse
…perties in New York recently, with developer Greenland and investment firm Fosun both making major acquisitions last month. Fosun, the parent company of Shanghai-based developer Forte, paid $725 million last month to acquire the Chase Manhattan building in Manhattan. During the same month, Greenland bought a 70 percent stake in the $4 billion Atlantic Yards development in Brooklyn. From Factory Floor to Personal Spa While Zhang Xin makes it a poin…
Comings and Goings: Who’s Changing Jobs in China Commercial Real Estate 2013-12-02
…lding Surveyor at Jacobs China Limited in Hong Kong. Peng Cheng has joined Fosun Real Estate Holdings as Deputy Head of Product Management and Strategic Planning in Shanghai. Before joining fast-growing Fosun, Cheng spent nearly 3 years as Associate Director of Strategic Consulting with Jones Lang LaSalle China. Wang Li Hui is now General Manager at SL Real Estate (Shanghai) Limited. Li Hui joined SL after two years with Beijing-based developer SO…
Chinese Investors Help Drive Manhattan Office Investment to Record High
Fosun acquired One Chase Manhattan Plaza in New York for $725 million Investment in Manhattan office properties reached US$5.5 billion in 2013, with an influx of Chinese investors helping drive the market to a record high, according to a recent market study. The report from international property consultancy Colliers International found that mega-transactions, such as Shanghai-based investment group Fosun acquiring the 60-story, One Chase Manhatt…
Greenland Group Adds $360M Canada Project to List of Overseas Deals
…company has become the star player. While competitors such as China Vanke, Fosun, Xinyuan and Country Garden have all made overseas deals, Greenland has made the largest number, and in a wide variety of locations. Also, unlike Vanke which has been careful to select local partners for its projects, and Fosun, which has shown a preference for purchasing established assets, Greenland is taking the high-risk, high-reward route of taking a majority sta…
China’s Bad Bank Leads $304M Chicago Office Tower Investment
…t is ready to join other major Chinese investors, such as Greenland Group, Fosun, and Vanke in acquiring what are seen as undervalued assets in the US market. Greenland has grabbed the most headlines for its US deals with billion dollar projects in Los Angeles and Brooklyn, and Fosun spent $725 million to acquire One Chase Manhattan Plaza in New York last year. In addition to its residential project in Manhattan, Vanke also has invested in a devel…
China Leads Among Foreign Hunters of US Trophy Real Estate
…s by investors such as Zhang Xin of Soho China and investment conglomerate Fosun made China lead all foreign countries as an investor into US trophy buildings with $1.4 billion in deals, while oil-rich Norway came in second place with $1.2 billion in deals, according to JLL’s Spring 2014 U.S. Skyline Review. The report by the real estate consultancy found that foreign buyers actually outstripped domestic US investors by accounting for 50.2 percent…
China Real Estate Fund Pivots to Outbound Investment as Market Turns
…rs such as Li, local Chinese giants such as Shanghai’s Greenland Group and Fosun have picked up a few dozen projects in a number of markets over the last 18 months. In Greenland’s case the state-run enterprise has acquired 13 early stage development projects in 11 cities across eight countries within the last eighteen months. Fosun has been almost as active as it is reported to have taken on a $1.26 billion site in Greece late last month, and in O…
China Real Estate People in the News 2014-06-09
…ent with Macquarie Capital Advisors. Gary Chan is now Managing Director at Fosun Property Holdings based in Shanghai where he has responsibility for outbound investments for the private Chinese conglomerate. Before joining the real estate division of Fosun last month, Chan was with the Capital Markets Department for Harvest Real Estate Investments based in Hong Kong where he led the company’s fund-raising efforts. Carrie Yang Zhao has joined Credi…
CHINA REAL ESTATE PROFESSIONALS IN THE NEWS 2014-06-16
…g executives joining Thai investment firms, more old hands signing up with Fosun, and a flurry of promotions and new gigs for our friends in Singapore, Shenzhen and Beijing. Read on for more details. Bosco Leung is now senior vice president for mall operations with Chia Tai Commercial Development Corporation, based in Beijing. Leung joins the subsidiary of Thailand’s Charoen Pokphand (CP) Corporation after spending five years with Shenzhen-listed…
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