Asia Pacific real estate investment news and information
Blackstone Group has effectively taken over control of Hong Kong-listed real estate developer Tysan Holdings by buying up 71 percent of the shares in the company, as the global private equity giant seeks easier access to China real estate opportunities.
According an annoucement in the Shanghai Securities News, Blackstone acquired 65.5 percent of the shares on January 3rd for HK$1.64 billion ($211.5 million)
Greenland Group, the state-owned real estate firm responsible for some of China’s biggest overseas acquisitions during 2013, has plans to spend between US$5 billion to $8 billion more to buy up international assets during 2014.
Having achieved 162.5 billion in property sales last year, up 53% over 2012, Greenland appears to be cashed up and ready to develop new projects overseas, as its Chinese customers look for fresh markets for real estate investment.
It could be a giant doughnut, or maybe the world’s largest imperial Chinese coin, but whatever it represents, the Guangzhou Circle is big and round.
The 33-storey tower, which opened this month in southern China is the world’s tallest circular building at 138 metres, and has 85,000 square metres of office space.
China’s office developments are set to expand by 173 percent by 2016, according to a recent survey, as real estate developers rush to take advantage of the country’s growing commercial sector.
The report by Insite Asset Management, a Chinese consulting firm which advises real estate developers and manages properties, predicts that the nation’s developers will roll out 58 million square metres of new offices nationwide by the end of 2016.
Dalian Wanda, the conglomerate controlled by China’s richest man, Wang Jianlin, has made outlandish headlines a routine occurrence in recent months, however, the company’s recent announcement of plans to add 24 new shopping malls within the next year, as well as 18 new five-star hotels, seems a bit crazy.
Even for a company that recently decided to take on Mickey Mouse, with plans for an amusement park in Wuxi that Wang challenged observers to compare “head to head with Shanghai Disney in terms of park visitors, and amount of revenue and see who is better.”
The real estate arm of Richard Li’s PCCW announced this week that it is close to selling a Beijing office building for a price put by sources close to the deal at US$900 million, as the Hong Kong princeling follows his father’s lead in selling off China property assets.
The move by Hong Kong based Pacific Century Premium Developments Ltd (PCPD), follows soon after the younger Li’s father, Li Ka-shing sold the Nanjing IFC in eastern China’s Jiangsu province on January 1st
Real estate consultancy Cushman & Wakefield today announced the appointment of James Shepherd as its new Head of Research for Greater China.
Based in Shanghai, Mr Shepherd will be responsible for reporting on trends and events in the real estate… Read More>>
Shui On Land CEO Freddy Lee abruptly stepped down from his leadership of one of China’s best-known real estate developers late last week, leading to speculation that he had been dismissed by company founder and chairman Vincent Lo.
In a… Read More>>
Real estate developer and attention-seeker Pan Shiyi led the media on a pollution-checking tour of Shanghai’s subway on Friday in an apparent attempt to ensure the public that the city’s public transport was pretty ok.
Pan’s day job may be… Read More>>
Not content with being China’s second largest real estate developer or winning the AFC Champions League soccer crown, Guanzhou-based Evergrande Group announced orders worth RMB 5.7 billion ($940 million) for its new bottled water brand, Evergrande Spring over the weekend.
At a ceremony in the city of Qingyuan in Guangdong, the company’s chairman, Xu Jiayin announced plans to…
