China Evergrande Group will meet with holders of a RMB 2.1 billion (US$293 million) onshore bond this Thursday and Friday in a bid to extend the interest payment date by six months as the embattled property developer struggles to meet… Read More>>
Invesco Relocates to Jardine House in Central, UBS Moves Office to West Kowloon
US asset manager Invesco is shifting its Asia Pacific headquarters to Hongkong Land’s Jardine House and UBS will take an anchor space in Sun Hung Kai Properties’ West Kowloon rail terminal project as global financial giants align their corporate homes… Read More>>
CIFI Holdings Confirms Trust Loan Default as Stock Drops 48%
China’s property crisis continues to spread with CIFI Holdings, a Shanghai-based developer which has received government support in securing new financing, disclosing this week that it has defaulted on an onshore trust loan.
Credit intelligence provider Reorg reported Wednesday that… Read More>>
Swire Boss Signs Deal for Pudong Mega-Project During China Tour
Swire Properties’ chief executive Tim Blackburn has concluded a fruitful trip to mainland China, securing a deal last week to develop a new mixed-use project in Shanghai’s Pudong district, breaking ground for Swire’s second luxury retail project in Guangzhou and… Read More>>
UOB Aims to Buy Out HK$10B Loan for Shimao Kowloon Project
After suing troubled mainland builder Shimao Group Holdings in July over an overdue debt linked to a Hong Kong residential project, Singapore’s United Overseas Bank Ltd (UOB) has settled its dispute with the defaulting developer at the same time it… Read More>>
Wing Tai, Vanke Win Tender for New Territories Site with $100M Bid
Wing Tai Properties Limited and China Vanke on Tuesday won a tender for a residential site in Hong Kong’s Sha Tin district with a bid of HK$786.4 million (US$100 million), exceeding analyst predictions despite the city’s biggest housing downturn in… Read More>>
Brookfield Buys Shanghai Rental Housing Project From R&F, KWG for $180M
Brookfield has leveraged the potential of China’s rental housing market and the financial distress of some of the country’s largest developers to acquire a serviced apartment project in Shanghai’s Yangpu District for RMB 1.26 billion ($180 million) as the first… Read More>>
R&F Selling Wanda Realm Beijing Hotel at a Loss
Guangzhou R&F Properties has renewed its efforts to sell off assets and pay down its liabilities as the mainland developer last week agreed to sell its Wanda Realm Beijing hotel to a unit of Beijing Pengrui Real Estate for RMB… Read More>>
Sunac China Vows to Fight Winding-up Petition, Promises Debt Restructuring Plan
Sunac China Holdings said it will take all measures to defend itself against a winding-up petition filed in Hong Kong as the debt-wracked property developer works to restructure its offshore liabilities after missing bond payments earlier this year.
A winding-up… Read More>>
Pan Shiyi, Zhang Xin Resign as Chairman, CEO of Developer Soho China
Chinese billionaire couple Pan Shiyi and Zhang Xin have resigned as chairman and chief executive of Soho China, taking one step back from the company they founded as it continues to face controversy linked to their failed $3 billion sale… Read More>>