…logistics parks, urban distribution centres and data centres. Read more>> Longfor Taps Bond Guarantee Plan, Shares Soar 29% Longfor Group Holdings’ shares jumped in Hong Kong trading after the property developer successfully tapped a bond guarantee scheme by the Chinese government for funds. Shares of the Beijing-based developer soared 29 percent to close the day at a three-week high of HK$18.20 ($2.32). Read more>> China Slashes Quarantine Time…
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Asia Real Estate People in the News 2022-11-28
…p becomes the latest defaulting builder to see its chairman step aside and Longfor Group names a new board member. Also making the list are executive updates from M&G Real Estate, Chinachem Group and more. Defaulting mainland developer Zhenro Group has reshuffled its board, including naming a new chairman and chief executive officer, according to local media reports this past weeks. Citing records on China’s Qichacha information platform seen on 2…
CIFI Mulls Exit From Property Management Arm and More Asia Real Estate Headlines
…pment Board upgraders, property analysts said. Read more>> Country Garden, Longfor Get New Offshore Loans From Big Banks Country Garden and Longfor Group are among the first private Chinese developers lined up to receive offshore loans that could help their debt repayment, in the latest sign of support for the stricken property sector. ICBC plans to provide $300 million in offshore loans to Country Garden backed by a domestic guarantee, Chinese me…
State Developers Take 8 of Top 10 Spots in China Sales Rankings
…tered the country’s private real estate firms. Country Garden Holdings and Longfor Group Holdings were the only private-sector developers that earned a top spot in the semi-annual ranking published by China Real Estate Information Corporation, with Country Garden once again leading the way in annual contracted sales attributed to shareholders. An octet of SOEs including China Vanke and Poly Developments and Holdings claimed the rest of the top 10…
Wanda Led China’s Commercial Developers Again in 2022 with 7% Growth
…same places last year that they occupied in 2021, with Red Star Macalline, Longfor Group Holdings, Seazen Holdings, and China Vanke trailing Wanda Commercial and China Resources Land. China Vanke reported the biggest income jump at 29.3 percent, while Seazen, Longfor, and Red Star saw income growth of 16.7 percent, 13 percent, and 1.8 percent, respectively. Wang Jianlin’s Wanda Commercial led Chinese commercial developers yet again in 2022 (Getty…
SGX-Listed REIT Selling Underperforming Spanish Asset and More Asia Real Estate Headlines
…, while that of Beijing jumped 122 percent. Read more>> Mainland Developer Longfor Issues Fourth Batch of Medium-Term Notes Chinese developer Longfor Group has completed the issuance of its fourth batch of medium-term notes since August of last year. The notes, worth a total of RMB 1.2 billion ($168.1 million), have a term of three years and a coupon rate of 3.66 percent, the Beijing-based company recently announced. Read more>> Tune in again soon…
Hillhouse, Boyu, CDH in Talks to Back GDS in SE Asia and More Asia Real Estate Headlines
…extra property levies last month to boost the market. Read more>> China’s Longfor Issues Profit Warning Chongqing-based developer Longfor Group Holdings on Friday announced to the Hong Kong stock exchange that it expects a decrease in profit of 45 to 50 percent for 2023, due to lower sales and falling prices. The company said it expects to publish its 2023 financial results by the end of March while indicating that it achieved positive cash flow…
China Probes PwC Role in Evergrande Fraud Case and More Asia Real Estate Headlines
…o a scaling back of its property-development business. Read more>> China’s Longfor Group Says Profit Fell 50% Last Year Chinese property giant Longfor Group reported a near 50 percent slump in net profit for last year, while revenue from home sales plunged because of the sluggish housing market. Net profit came in at RMB 12.85 billion ($1.8 billion) in 2023, compared with RMB 24.36 billion a year earlier, the company said in a filing to the Hong K…
Half of China Real Estate Developers Miss 2011 Sales Targets
…value China Vanke Co Ltd, Shanghai-based Greenland Group, Hong Kong-listed Longfor Properties Co Ltd, all missed their sales goals in 2011, said the CRIC report. Vanke topped the list with sales of 121 billion yuan ($19 billion) in 2011, but Xinmin Evening News reported that the company had set a sales target of 140 billion yuan for the year. Ranked third in the list, Greenland sold 8.08 million square meters (sq m) of gross floor area for 77.6 bi…
Announcing China’s Top 5 Real Estate Billionaires for 2012
…Worth US$ 5.9 billion Wu runs commercial and B-grade residential developer Longfor Properties out of Beijing. Despite problems with credit reports from Moody’s, the company’s stock rose more than 30% since last year. #11 Yang Huiyan Net Worth US$ 4.5 billion The fortunate Ms Yang received her father’s share in Country Garden Holdings in 2007, and the company’s plans to develop 17 5-star hotels in China have helped propel their stock upwards by 54%…
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