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>>
R&F Buying Back London Project From Far East Consortium at 11% Markup
Guangzhou R&F Properties said Friday it is repurchasing the Vauxhall Square mixed-use project in south London from Hong Kong-based Far East Consortium. The buyback comes five months after the developer sold the undeveloped site at a 42 percent discount in… Read More>>
DNE Group Gets Nod for China’s First Privately-Sponsored REIT
A logistics fund sponsored by a Warburg Pincus-backed industrial developer is on track to become China’s first REIT sponsored by a private company after receiving a green light from mainland authorities this past week.
The status of the listing application… Read More>>
Swire Mall in Shanghai Apologises for Violating Data Privacy Rules
Taikoo Li Qiantan shopping mall, a Swire Properties joint venture in Shanghai’s Qiantan area, has apologised for violating Chinese data privacy rules after it shopping app caught the attention of a local consumer watchdog.
The state-run Shanghai Morning Post said… Read More>>
China Investigates Directors of 3 State-Run Developers
China on Tuesday announced four separate investigations of current and former senior executives at three of the country’s largest state-owned real estate companies over allegations of “serious violations of discipline and law”.
A notice posted by the anti-corruption office in… Read More>>
Evergrande, PwC Investigated Over Failure to Report $2B Loan Scheme
Hong Kong’s accounting watchdog has launched a probe into the property services arm of embattled developer China Evergrande and its erstwhile auditor PricewaterhouseCoopers, related to a RMB 13.4 billion ($2 billion) loan scheme that led to the developer firing its… Read More>>