…controlled by Wu’s family office, on Monday increased its shareholding in Longfor to 43.41 percent, from 43.36 percent, by purchasing Longfor shares at an average price of HK$9.53 the developer said. Longfor’s stock in Hong Kong closed at HK$10 Monday, down 23.8 percent from its previous close. The property giant’s 4.5 percent bond due in 2028 plunged as much as 14 cents after falling by record amounts last week. Meanwhile, trading of several ons…
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Longfor Counts on Kids to Help Fill Baoshan Paradise Walk in Shanghai
…tarbucks outlet. Baoshan Welcomes Another Retail Behemoth Led by Wu Yajun, Longfor opened its second shopping mall in Shanghai Longfor is promoting the new mall as serving growing demand from Baoshan’s rapidly gentrifying population, and Baoshan Paradise Walk also links directly to Shanghai’s Metro Line 7, making it easier for shoppers to stop by on their way to or from Jing An and Putuo districts to the south. The neighborhood’s growth has also a…
Longfor H1 Profit Edges Up 0.6% as Q1 Strength Outweighs Recent Slide
…contracted sales in 2022 totalled RMB 126.7 billion. Those figures updated Longfor’s monthly operating statements, which had pegged its total contracted sales in the first half at RMB 65.64 billion. Longfor Group Holdings chairman Chen Xuping “We have flexibly maintained a balance between sales volume and price, construction progress, and sales pace in a fluctuating market, ensuring stable cash returns for the group,” Chen said. Longfor sold total…
CCPIB Invests $662M in Pair of Longfor Projects in Shanghai, Chengdu
…hongqing West Paradise Walk projects,” said Zhao Yi, Executive Director of Longfor Properties in the statement. Chongqing-based Longfor Properties ranked eighth among Chinese property developers by contracted sales last year. The builder has opened 15 Paradise Walk malls across Chongqing, Chengdu, Xi’an, Shanghai, Hangzhou and Suzhou. The flagship mall portfolio accounted for 87 percent of Longfor’s RMB 1.1 billion ($162 million) rental income in…
Developer Longfor Turns to Standard Chartered PE for Financing
…r has been slowing sales for projects in second and third-tier cities, and Longfor does not appear to be exempt from this trend. According to first half results announced on July 10th, although Longfor’s June sales grew 6 percent in terms of value compared to last year (reaching RMB 4.6 billion) the company has only achieved 35.6 percent of its RMB 57 billion sales target for the period from January to June. Last year Longfor’s net profits were RM…
CPPIB Commits $202M to JV with Longfor Properties
…ries of phases beginning in 2016 and ending in 2019. More Cooperation with Longfor Could Be on the Way “We look forward to building a long-term strategic partnership with Longfor that will allow CPPIB to continue to invest in large scale mixed-use and retail projects in China, a market in which we see long-term growth potential,” said Jimmy Phua, Managing Director, Head of Real Estate Investments Asia for CPPIB. The pension fund manager has alread…
Cai Xinyi, Daughter of Longfor Founder, Now China’s Youngest Billionaire With $7.2B Fortune
…perations. Cai Xinyi is not known to have executive duties or a title with Longfor. According to the announcement, Wu will continue to serve as the developer’s leading executive, as well as keeping her voting rights on Longfor’s board of directors. According to a 2012 interview with Wu, Cai Xinyi chose biotechnology as her major field of study in university, however, her current employment and marital status were not mentioned in the company’s ann…
KWG and Longfor Win Kai Tak Site With HK$7.3B Bid
…y to diversify its portfolio. In a statement on its website, Beijing-based Longfor characterised the project as part of a new focus on the Greater Pearl River Delta. On the same day that the Kai Tak results were announced, Longfor also won a land auction across the border in Shenzhen, where it agreed to pay RMB 482 million ($70 million) for a 13,840 square metre commercial project. KWG and Longor are already familiar with each other, have previous…
What Glut? CPPIB Invests $147M in Longfor Chongqing Mall
…ngfor Project West Paradise Walk is the second retail JV between CPPIB and Longfor Properties The investment is CPPIB’s second deal with Longfor, after the investment management organisation bought a RMB 1.25 billion ($202 million) stake in Times Paradise Walk in Suzhou, Jiangsu province during 2014. The Suzhou project, which includes residential, office, retail and hotel space, is already operational, with additional phases expected to open betwe…
Country Garden and Longfor Raise $1.7B in Offshore Bonds
…t as of that date, the company’s filing indicates. Stable Outlook Seen for Longfor Beijing-headquartered Longfor priced a $300 million, 5.25-year tranche of its offering at a fixed annual coupon of 3.9 percent, and a $500 million, 10-year tranche at a 4.5 percent coupon, a stock exchange filing by the company reveals. The proceeds are intended to be used to refinance debt, the company said. Following the issuance, Longfor’s revenue to adjusted deb…
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