After China Evergrande New Energy Vehicle Group issued a warning this week that its first-half net loss was expected to nearly double from a year earlier, the car maker’s parent firm — debt-saddled developer China Evergrande — has confirmed that… Read More>>
Hotel in Hong Kong’s Tsim Sha Tsui Said Sold to US Fund for $123M
Butterfly on Prat, a 158-room hotel in Hong Kong’s Tsim Sha Tsui area, has reportedly changed hands for HK$980 million ($123 million) as the local tourism collapse compels smaller lodging operators to sell their assets to redevelopment-minded investors.
Multiple market… Read More>>
CapitaLand Shareholders Approve $15.9B Restructuring, Developer to De-List
CapitaLand said shareholders on Tuesday voted “overwhelmingly” in favour of a $15.9 billion plan to privatise the Singapore property giant’s development operation and spin off its fund management business.
More than 3,400 CapitaLand shareholders voted by proxy at an extraordinary… Read More>>
Family of Hong Kong’s Late Shop King Sells Fanling Industrial Asset for $89M
The family of late “Shop King” Tang Shing-bor has sold a second New Territories industrial asset to China Resources Group, as the cash crisis of one of Hong Kong’s most active real estate investors creates an opportunity for the mainland… Read More>>
IWG Forms Greater China Flexible Office JV with Hong Kong’s Hysan
Flexible office provider IWG and retail and office landlord Hysan Development will form a joint venture with the exclusive right to operate all IWG brands in Hong Kong and throughout the Greater Bay Area, the companies announced Monday.
The JV… Read More>>
GLP Vietnam Joint Venture Breaks Ground on Haiphong Logistics Complex
SEA Logistic Partners, a joint venture backed by warehouse giant GLP, has broken ground on a set of sheds in the northern Vietnamese port city of Haiphong, marking SLP’s first logistics development in the rapidly industrialising nation and in Southeast… Read More>>
Sale of $1.9B Tanjong Pagar Tower Attempted as Singapore Heats Up
Owners of a strata-title office tower in Singapore’s Tanjong Pagar area have agreed to put their 50-storey property on the market in a move that could lead to the city’s largest collective sale ever and provide the latest sign of… Read More>>
Li Ka-Shing’s CK Asset Posts 30.8% Profit Jump in ‘Challenging’ First Half of 2021
CK Asset Holdings, the listed developer controlled by Hong Kong’s richest man, Li Ka-shing, reported strong earnings growth for the first half of 2021, with profit attributable to shareholders leaping 30.8 percent compared with the COVID-hit year-earlier period to reach… Read More>>
Nearly a Decade in the Making, Shui On Land Readies IPO of Xintiandi Unit
In the wake of Wednesday’s report that Shui On Land had picked two banking giants to lead the IPO of its Xintiandi unit, the Shanghai-based property firm looks set to fulfil a listing plan first proposed when Barack Obama and… Read More>>
CBRE to Acquire 60% Stake in UK Project Manager Turner & Townsend for $1.3B
Global property consultancy CBRE has beefed up its service offerings with a string of recent deals, including the planned acquisition of a 60 percent stake in UK-based project management specialist Turner & Townsend.
In the all-cash transaction, CBRE will pay… Read More>>
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