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>>
China Real Estate Investment Fell 12% in July as Home Sales Slide Continues
China’s cash-strapped developers cut back further on real estate investment in July as new construction starts fell at the fastest pace in almost a decade and home sales worsened despite the lifting of COVID lockdowns and a slew of stimulus… Read More>>
Swire Properties Takes on More Hong Kong Projects Despite Challenging 2022 1H
Swire Properties saw revenue decrease by 26 percent in the first half of the year to HK$6.70 billion ($855 million) while its underlying net profit slid 8 percent to $4.14 billion as its retail and hotel businesses were hit by… Read More>>
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