Swire Properties is picking up a 40 percent stake in two mixed-use projects in Shanghai’s Pudong district at a combined value of $1.33 billion through separate joint ventures with government-backed Lujiazui Group, including a previously announced joint development in the… Read More>>
AB Capital Hires EQT Exeter’s Kusumine Enami to Lead Japan Office
Hong Kong-based AB Capital Investment has strengthened its team in the firm’s target market of Japan with the hiring of Kusumine Enami as country head and managing partner.
Enami joins the hospitality-focused private equity firm from EQT Exeter, where he… Read More>>
Property Measures Deliver Jolt to China Stocks and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China’s newly announced support measures boost property stocks, and embattled builder Country Garden reportedly makes a payment on a ringgit-denominated bond. Also on the list, mainland megacities react to the latest stimulus and… Read More>>
Cheung Kei Tycoon’s Seized Mid-Levels Apartment Said to Sell for $53.5M
A Hong Kong luxury apartment seized from Shenzhen tycoon Chen Hongtian in March has sold for HK$420 million ($53.5 million), according to local media accounts, with the price paid for the Mid-Levels home reportedly representing a 38 percent discount to… Read More>>
China Reportedly Preps Further Property Stimulus and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China is said to be mulling further measures to jump-start its ailing property market, and cash-strapped builder Country Garden delays a deadline for onshore bondholders to vote on a payment extension. Also making… Read More>>
CDL Buys Osaka Hotel for $58M, Adding to String of Hospitality Acquisitions
City Developments Ltd has acquired a 256-room Osaka hotel for JPY 8.5 billion ($58 million), chalking up the Singapore property giant’s third hospitality acquisition this year.
CDL paid roughly $230,000 per key for the Bespoke Hotel Shinsaibashi, a freehold property… Read More>>
Country Garden Posts Six-Month Loss of $6.7B, Acknowledges Future in Doubt
Country Garden Holdings posted a first-half loss attributable to shareholders of RMB 48.9 billion ($6.7 billion), reversing a RMB 612 million profit recorded a year earlier, as the embattled Chinese developer acknowledged for the first time that “material uncertainties” threaten… Read More>>
State-Backed China Vanke Posts 19% Profit Decline and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China’s second-largest developer, Vanke, reports a relatively modest profit drop as red-chip China Resources Land posts healthier numbers. In other mainland builder news, Sunac narrows its six-month loss while Country Garden faces a… Read More>>
GuocoLand Revenue Jumps 60% as Singapore Office Project Gains Steam
GuocoLand’s full-year profit fell 47 percent on lighter investment gains and rising financial costs, but revenue surged 60 percent as the company began recording rental income from the Guoco Midtown office tower.
The Singapore development arm of Malaysia’s Hong Leong… Read More>>
Country Garden Selling $34M in Shares to Pay Off Kingboard Loan
Country Garden’s scramble to make good on debts continued Wednesday, with the Chinese homebuilder agreeing to sell HK$270 million ($34.4 million) in new shares to Kingboard Holdings in order to make a loan payment to the Hong Kong-based laminates maker… Read More>>
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