ARA Asset Management (Fortune) Limited, the manager of Li Ka-shing controlled Fortune REIT has now closed on its HK$1.9 billion ($245 million) acquisition of the Laguna Plaza residential retail complex in Hong Kong, according to a recent statement from the company.
Kaisa Accounts Frozen as Creditors Try to Claw Back Cash
Attempts by Kaisa Group to stonewall its creditors in the face of serial defaults appear to be backfiring after bank accounts belonging to the Hong Kong-listed developer were frozen, and bond-holders began banding together for legal action.
The defaulting developer’s… Read More>>
Wanda Cinema to Raise RMB 1.26B in Shenzhen IPO
Wanda Cinema Line, the movie theatre operator belonging to billionaire property developer Wang Jianlin, has scaled back plans for its initial public offering on China’s Shenzhen exchange under instruction from Chinese regulators.
According to a report in Reuters this week,… Read More>>
Chinese Govt Revealed as Secret Buyer of €270m Brussels Tower
Gingko Tree Investment, a unit of China’s foreign exchange administrator, was revealed this week as the silent partner in the acquisition of a 70,000 square metre (753,000 sqft) office complex in Brussels, Belgium late last month.
According to reports in… Read More>>
China Real Estate People in the News 2015-01-12
Our first full week of activity in 2015 sees a US property developer promoting some local talent, a change of roles for an exec with one of China’s biggest financial management firms, and a flurry of moves at one of… Read More>>
Smaller Developers Suffer as Real Estate Margins Squeezed in 2014
China’s real estate industry is continuing to grow but that doesn’t mean all of the players are winning, according to data released this month.
Reports by two separate agencies show that an eight month slide in real estate prices is… Read More>>
Li Ka-shing to Spin Off Property Assets in $24B Restructuring
Hong Kong’s richest man is consolidating his property assets into a single company, as billionaire Li Ka-shing announced on Friday that he is restructuring his biggest holding companies.
In a statement, the investor known in Hong Kong as “Superman” for… Read More>>
Surge of New Offices as 2.78M Sqm Added to China’s Downtowns
China’s major cities expect to add a record 2.78 million square metres of new office space in 2015, but the record is likely to be short-lived, as another 4.18 million square metres are predicted to come online in 2016, according… Read More>>
Banks Now Suing Kaisa in Shenzhen Court – Seek to Seize Projects
The credit problems facing Kaisa Group continue to deepen as it was revealed today that at least three financial institutions, including Chinese state-owned banks, are suing the troubled real estate developer and seek to seize the company’s projects.
According to… Read More>>
Kaisa Defaults on $500M Bond Payment, Spooks Debt Markets
Chinese real estate developer Kaisa Group dug itself still deeper into default yesterday when the Hong Kong-listed company failed to make $26 million in interest payments due on offshore bonds.
The bond default is Kaisa’s second failure to meet debt… Read More>>
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