Champion REIT would like to sell Langham Place while the sun shines
Leading today’s news is the continuing spread of China’s housing rebound, with even cities Mingtiandi has never heard of reporting rising housing prices in June. Also in the news, Shanghai’s Greenland Gruop looks for more Malaysian deals, and much more. If you’ll just read on.
Home Prices Rise in 60 Out of 70 Chinese Cities
Home prices surged in China’s smaller cities even as property curbs dragged down values in Beijing and Shanghai in June, highlighting the challenge for authorities trying to limit bubble risks.
New-home prices, excluding government-subsidized housing, rose month-on-month in 60 of 70 cities, the National Bureau of Statistics said on Tuesday. That compared with 56 in May. Read more>>
Champion REIT Officially Puts Langham Place on the Block for HK$26B
Champion Reit, the real estate investment trust controlled by the Hong Kong family behind Great Eagle Holdings, is offering its office tower at Langham Place in Mongkok for sale with an estimated price of HK$26 billion (US$3.33 billion).
The landlord is targeting mainland buyers, according to property consultant Savills. Read more>>
Greenland Group in Malaysian Development JV
PRG Holdings Bhd has entered into a strategic cooperation agreement with China’s Jiangsu Provincial Construction Group Co Ltd (JPC) to jointly undertake infrastructure, property and construction activities in Malaysia and internationally.
In a statement, Main Market-listed PRG said under the agreement, it would source for infrastructure, construction, project financing and property development projects. Read more>>
Ascott to Open Citadines Space in Nha Trang, Vietnam
CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has opened its first Citadines Apart’hotel in Vietnam and expanded its footprint to a key tourism hub, Nha Trang.
Citadines Bayfront Nha Trang is the first international-class serviced residence in the coastal city. It offers business and leisure travellers a prime location with easy access to the Van Phong Economic Zone and local attractions, coupled with a picturesque view of the ocean and a pristine beach steps from the property. Read more>>
Sunac’s Sun Hongbin Said Likely to Become LeShi Chairman
Leshi Internet Information & Technology Corp.’s shareholders installed new members to their company’s management board on Monday, trying to sever founder Jia Yueting’s management involvement or boardroom control of the cash-starved video streaming service.
Sun Hongbin, the Shanxi tycoon who poured 15 billion yuan (US$2.2 billion) to bail out Jia’s LeEco group of companies, is very likely to appoint as chairman of Leshi’s board, according to a shareholder who attended the company’s shareholder meeting on Monday in Beijing. Read more>>
GLP to Build 83,000 Sqm Adidas Shoebox in Suzhou
Just after it announced last Friday that it has accepted a Chinese consortium’s offer for a buyout, Global Logistic Properties (GLP) said on Tuesday that it has signed an agreement with Adidas to develop its largest distribution centre in Asia.
In a Singapore Exchange filing on Tuesday, GLP said that Adidas is doubling its space at the same park in Suzhou, Eastern China to meet strong demand from growing domestic consumption. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
Leave a Reply