Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Hong Kong Group Placing £300m Bet on Manchester Property
Following the full acquisition of Manchester’s gargantuan Grade II-listed Great Northern Warehouse on Deansgate by Hong Kong-based property investment firm, The Peterson Group (co-investors in Great Northern with former owner Resolution Property since 2013), it appears Manchester is about to welcome another ‘world class city quarter’, slap bang in the heart of the city.
Partnered with UK developer, Trilogy Property, Peterson have proposed a £300m reinvention of the 375,000 sq ft Great Northern Warehouse including apartments, restaurants, offices, retail and leisure uses. Read more>>
Kaisa Bonds Surge on Prospect of Onshore Payment Agreement
Kaisa Group Holdings Ltd.’s dollar bonds headed for their best rally in six months on speculation a restructuring agreement with an onshore lender will allow the beleaguered Chinese developer to focus on resolving a stalemate with offshore creditors.
The Shenzen-based real estate group’s Shanghai unit has returned to normal operations after reaching a settlement with Bank of China Ltd., spokeswoman Zhou Ting said in an e-mail Tuesday, declining to elaborate on the amount of debt involved. Read more>>
China Housing Sales Rise 64 Percent Over Golden Week
China’s “golden week” saw domestic housing sales surge by 64.8 percent in floor space term, spurred by the government’s easing policies, according to the China Index Academy.
Owned by SouFun Holding Group Ltd, the China Index Academy said on Monday that during Oct 1 to 7, home sales in 23 Chinese cities monitored hit 1.59 million square meters, up 64.8 percent from the same period last year. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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