Hong Kong’s retail property market is bracing for turbulent times as a street front shop in the world’s most expensive shopping district was sold at a 73 percent loss.
According to Land Registry records cited by the Hong Kong Economic… Read More>>
Frasers Sells Half of S$1.1B Mall to Thai Cousin at Mark-Up Amid Retail Slump
Despite slumping retail sales, a division of tycoon Charoen Sirivadhanabhakdi’s TCC Group has agreed to purchase a 50 percent stake in a suburban Singapore shopping centre from Frasers Property, the SGX-listed developer controlled by the Thai billionaire.
TCC Prosperity’s purchase… Read More>>
Luckin Coffee Boss Said Facing Charges Over RMB 2.2B Sales Scam
Luckin Coffee chairman Charles Zhengyao Lu’s multi-billion dollar business empire is curdling like a week-old latte, as the founder of three listed companies is said to be in line for criminal charges over his role in a RMB 2.2 billion… Read More>>
Simon Properties Sues in US Court to Cancel $3.6B Acquisition of Taubman
The COVID-19 pandemic drove the biggest drop in US retail sales ever during April, and now the coronavirus has also killed off the country’s largest mall developer’s appetite for a $3.6 billion merger.
Simon Property Group in a 202-page declaratory… Read More>>
Link REIT Revenues Rise 5.6% Despite Protests and Pandemic in Hong Kong
Hong Kong’s Link REIT survived a steep downturn the city’s retail sector in 2019, recording a 5.6 percent rise in revenue to HK$10.7 billion ($1.4 billion) for the year ending 31 March 2020. That income increase came despite the city’s… Read More>>
Shenzhen’s Realord Makes HK$500M Offer for Hong Kong’s Sincere Department Stores
Mainland electronics conglomerate Realord Group Holdings has made a voluntary conditional cash offer to buy out Hong Kong’s Sincere Group in a deal that values the city’s oldest Chinese-owned department store group at HK$500 million ($65 million), according to a… Read More>>
Hong Kong Landlords Squeezed as Retail Sales Fall for 14th Month
Statistics released this week show that consumer spending in Hong Kong fell for the fourteenth consecutive month during March, and the slide in shopping is already squeezing some of the city’s largest landlords.
Link REIT, Wheelock Properties and other owners… Read More>>
New World Sells Stakes in Hong Kong Malls to MTR for HK$3B
New World Development has sold its ownership interest in a pair of mid-market Hong Kong community malls to MTR Corporation for HK$3 billion ($380 million), according to a company announcement.
The developer said that it was disposing of its 50… Read More>>
US Retail Giant Simon Property to Buy Rival Taubman for $3.6B
Two of America’s largest mall owners are set to merge in a $3.6 billion deal as Simon Property Group moves to become the biggest retail landlord left standing with a takeover of competing NYSE-listed REIT Taubman Centers.
Simon Property Group… Read More>>
Link REIT Negotiating Stake in UK Retail Landlord Seeking £1B Rescue
The manager of Hong Kong’s Link REIT is in talks with Intu Properties to buy equity in the UK shopping centre landlord, according to an announcement by the London-listed company, as the manager of the real estate investment trust conducts… Read More>>
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