Guangzhou R&F Properties may have avoided default and gained an extra six months to repay a $750 million offshore note that came due on Thursday, but S&P Global Ratings has labelled the group’s delaying tactic a default in all but… Read More>>
CapitaLand, Mitsui, Tokyo Tatemono Open Singapore’s 79 Robinson Road
Almost five years after breaking ground in Singapore’s central business district, CapitaLand and its Japanese partners officially opened their 79 Robinson Road office building Friday with committed occupancy already close to 93 percent.
Designed by US firm Gensler and Singapore’s… Read More>>
Sunac Share Sale Raises $580M as Developer Faces Bond Deadline This Month
Mainland developer Sunac China Holdings continues to make moves to shore up its financial position, including a planned HK$4.52 billion ($580 million) share sale to a holding firm controlled by the family of chairman Sun Hongbin.
In the top-up deal… Read More>>
China Oceanwide Faces Payment Demand After $175M NYC Default
China Oceanwide Holdings’ American dream is looking ever more like a broken one after the mainland developer was served with a default notice for a $175 million loan backed by the group’s troubled skyscraper project in Lower Manhattan.
New York-based… Read More>>
Schroders JV Sells Shanghai Co-Living Project to Golden Union for $31M
China’s rental residential sector has seen another global fund manager expand its China rental residential holdings as Warburg Pincus-backed Golden Union Assets has reportedly acquired a co-living project in Shanghai’s southwestern suburbs from fund manager Schroders and Hong Kong-listed Deson… Read More>>
Bain-Backed Chindata Data Centres Announces Terms of Divorce From Former CEO
Chindata Group has shed some light on the fate of recently departed CEO Alex Ju, who will assume a new non-executive role as he prepares to exit the Beijing-based data centre provider he founded more than six years ago.
As… Read More>>
R&F Avoids Default on $750M Note With Scaled-Back Repurchase Plan
Guangzhou R&F Properties has escaped default on a $750 million offshore note coming due this week, even as liquidity issues forced the mainland developer to downsize a planned buyback of some of the debt.
R&F Properties had intended to earmark… Read More>>
Savills Acquires Singapore’s Merx Group to Bolster APAC Project Management
Savills has acquired Singapore-based Merx Group for an undisclosed amount in a bid to strengthen the property services firm’s project management capabilities across Asia Pacific.
The pick-up adds Merx’s crew of 50 project management professionals to Savills’ regional offering, with… Read More>>
Hines Developing Second Cold Chain Warehouse in South Korea
Hines continues to bet on refrigerated storage as it expands its industrial holdings in Asia Pacific, with the US developer this week announcing a new logistics centre in South Korea as its third cold chain project in the region.
The… Read More>>
Modern Land Seeks Restructuring of $1.3B Debt as Shares Drop 40%
Modern Land on Monday announced the appointment of financial advisors to assess the Beijing-based builder’s liquidity crunch and devise a remediation plan, joining a caravan of cash-strapped Chinese developers seeking a restructuring of delinquent debts.
In an update to the… Read More>>
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