Hong Kong developer Wang On Properties has taken over an aging residential building in Southern District’s Ap Lei Chau for about HK$106 million ($13.6 million), with plans to redevelop the property and surrounding buildings into what could become a more… Read More>>
State Developers Take 8 of Top 10 Spots in China Sales Rankings
State-owned enterprises dominated the ranks of China’s biggest developers by sales in 2022, with SOEs accounting for eight of the top 10 mainland builders, as Beijing’s deleveraging policy battered the country’s private real estate firms.
Country Garden Holdings and Longfor… Read More>>
Alibaba-Backed Red Star Macalline Being Bought Out by Xiamen SOE
A Chinese state-controlled conglomerate has agreed to buy what could be a controlling stake in Red Star Macalline Group Corporation, an Alibaba-backed home improvement mall chain, as government firms continue to bail out China’s flailing private real estate sector.
Shanghai-listed… Read More>>
Chinese Vice Premier Liu He Takes Aim at Real Estate Risks at Davos
China’s Vice Premier Liu He underscored the country’s recent backflip on property policy at the World Economic Forum on Tuesday, signalling that authorities will continue to bolster the real estate industry as indebted developers struggle to shore up their finances.
Schroders Sells Kowloon Office Tower for $45M as Hong Kong Opens Up
British asset management giant Schroders has sold a 15-storey office tower in Hong Kong’s Mong Kok area for HK$350 million ($44.8 million), more than three years after the property went on sale for double the price, according to local news… Read More>>
Cash-Strapped Kaisa Group Sued for $102M Over Unpaid Debt
A Hong Kong investment firm is suing mainland builder Kaisa Group Holdings to recover $102.3 million in unpaid principal and interest, in another blow to the severely indebted developer as China’s real estate crisis drags on.
Oasis Capital Management filed… Read More>>
China’s Fosun Receives $1.8B Loan from State-Owned Banks as Bailouts Continue
A subsidiary of Chinese investment giant Fosun International has received a RMB 12 billion ($1.8 billion) loan from a syndicate of mainland banks, according to reports, as the Chinese government ramps up support for indebted private firms.
Shanghai Fosun High… Read More>>
Henderson-Managed Sunlight REIT Picks Up Kowloon Mall for $96M
Henderson Land Development’s Sunlight REIT is boosting its retail portfolio by picking up a three-storey shopping podium in Hong Kong’s West Kowloon area for HK$748 million ($95.8 million), with the listed trust picking up the asset at a nearly 12… Read More>>
Shanghai Saw 74% Plunge in Net Office Take-Up in Q4 as Tenants Pulled Back
Shanghai’s office market continued to struggle in the last quarter of 2022, as the mainland financial hub was battered by COVID-19 chaos and sluggish leasing activity, but the market is poised to bounce back this year amid a broader economic… Read More>>
Hong Kong Strata Industrial Sales Crash 66% in Q4 as Supply Chain Woes Continue
Modern warehouse rents in Hong Kong declined 1.5 percent in the fourth quarter of last year as a slumping logistics market weighed on local third-party logistics (3PL) operators, while sales of stratified industrial space plunged 66 percent during the quarter,… Read More>>
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