Chongqing’s CC Land is said to be buying London’s Gotham City project
London leads Asia’s real estate news again today, with Chongqing-based CC Land heading back to the UK capital for another acquisition on Leadenhall Street. Closer to home, Guangdong-based Agile Group says it’s putting $1.1 billion into a project in its home province, and HNA has found a German politician willing to have a try at standing in front of whoever actually owns the mainland group. Read on for all these stories and more.
Chongqing’s CC Land Joins Group Buying 84,000 SQM London Project
A group of four Chinese property companies including CC Land Holdings Ltd. has agreed to buy a majority stake in a skyscraper planned for the City of London financial district, two people with knowledge of the plan said.
The investors will also fund the construction of the 40 Leadenhall office project, nicknamed Gotham City, the people said, asking not to be identified as the details are private. Vendor TH Real Estate, an affiliate of Nuveen, the asset-management unit of the Teachers Insurance & Annuity Association of America, retains a minority stake and will manage the development, they said. Read more>>
Agile Agrees to Invest $1.1B in Zhongshan Joint Venture
Chinese developer Agile Group Holdings said it agreed to invest 7.50 billion yuan ($1.13 billion) for a 37.49% stake in a limited partnership company that will develop three property projects in Zhongshan city in Guangdong province, where it holds a stake.
The company will, through a wholly owned unit, join hands with asset manager Kaili Yifang, financial-services provider Guosen Securities and developer Shiguang Shiye in the partnership company, which has a total registered capital of 20 billion yuan, Agile said in a filing to the Hong Kong stock exchange late on Thursday. Read more>>
HNA Appoint Ex-German Vice Chancellor as Latest Front Man
Former German Vice Chancellor Philipp Roesler has been appointed to the top job at HNA Group’s New York-based foundation, a move intended to provide stability and legitimacy for the Chinese conglomerate’s charitable efforts in the United States.
Roesler becomes the first chief executive of Hainan Cihang Charity Foundation Inc, a New York-based not-for-profit corporation, the foundation said Thursday. Read more>>
Sunac Shares Sink After Stock Sale Announced
Shares of Sunac China Holdings slumped by more than 10 per cent on Friday after one of China’s most highly leveraged developers announced its second stock placement plan since July, raising shareholders’ concern that their interests will be diluted.
The developer, controlled by Sun Hongbin, said it would raise HK$7.82 billion (US$1 billion) through a sale of 251.5 million shares at HK$31.10 each, at a discount of close to 12 per cent to Thursday’s closing stock price, according to a filing to the Hong Kong stock exchange. Read more>>
Singapore Private Home Sales Jumped in November
Developers sold 785 private homes in November 2017, slightly higher than the 760 units they moved in the previous month, but lower than the 860 units sold in November last year.
The above figures, released by the Urban Redevelopment Authority (URA) on Friday, exclude executive condominium (EC) units. Read more>>
China Supplied 77 of a Record 144 New Skyscrapers in 2017
More skyscrapers were built in 2017 than during any other year in history, according to a report released by the Council of Tall Buildings and Urban Habitat (CTBUH).
A total of 144 buildings measuring 656 feet or taller were completed in the world this year, up on 2016’s record by more than 13 per cent, CNN quoted the report as saying on Wednesday. Read more>>
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