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Foreign Retailers Shift Away from Prime Areas as HK Rents Rise

2014/01/23 by Syndicated Content Leave a Comment

Hong Kong’s retailing landscape is changing. With the competition for space in the city’s traditional retail districts–Central, Causeway Bay, Tsimshatsui and Mongkok–driving rents to eye-watering levels, foreign retailers are increasingly shifting their focus to shopping centres in the New Territories. Fast fashion brands such as Uniqlo, Gap, H&M and Zara have been leading the trend but others are following.

In addition to capturing a share of the growing Mainland-shopper market, retailer interest is also being attracted by growing local populations resulting from the completion of new residential developments.

Hong Kong's retailing landscape is changing. With the competition for space in the city's traditional retail … Read more>>>

Tokyo and Beijing Now Most Expensive for Expat Postings

2014/01/23 by Syndicated Content Leave a Comment

Tokyo is still Asia’s most expensive city for expat postings, but it is being losing ground to smoggy Beijing, according to the results of a survey released recently by global employment solutions provider ECA International.

Tokyo and Beijing, which were globally ranked 10th and 15th, respectively, were followed by Nagasaki, Shanghai and Yokohama to round out the top five most expensive expat postings in Asia.

Tokyo is still Asia's most expensive city for expat postings, but it is being losing ground to smoggy Beijing, according … Read more>>>

Study Documents $458.3 billion in China Outbound Wealth Transfer

2014/01/23 by Syndicated Content Leave a Comment

About 2.8 trillion ($458.3 billion) of the 33 trillion yuan ($5.45 trillion) of assets owned by rich Chinese was transferred overseas in 2011, equivalent to 3 percent of China’s GDP in the same year, according to a blue book published on Wednesday.

“Rich” refers to those who individually possess more than 6 million yuan of investable assets.

Hong Kong is the most popular asset transfer destination for rich Chinese, attracting 22 percent of the 2.8 trillion yuan. The United States came second, attracting 21 percent of the assets. About 16 percent of the assets went to Canada. Switzerland, Singapore and Australia.

About 2.8 trillion ($458.3 billion) of the 33 trillion yuan ($5.45 trillion) of assets owned by rich Chinese was … Read more>>>

More Chinese Securing Investor Visas to Move Overseas

2014/01/23 by Syndicated Content Leave a Comment

Migration for investment in overseas real estate markets has become a top choice for Chinese applicants, according to a report on China’s migration status released on Wednesday.

The Annual Report on Chinese International Migration 2014 shows that a growing number of Chinese investors are rushing to go abroad in order to buy properties and establish permanent residence in places like Europe and North America.

Migration for investment in overseas real estate markets has become a top choice for Chinese applicants, according to a … Read more>>>

Beijing roof garden

Beijing Approves Sale of RMB 100k Per Square Metre Homes

Beijing roof garden

2014/01/22 by Michael Cole Leave a Comment

Beijing’s city government announced pre-sale approvals for two new — and record-breakingly expensive — real estate projects in China’s capital.

According to a report in the South China Morning Post, a permit was issued on Sunday for a project in the city’s Chaoyang district to begin selling units with prices as high as RMB 100,537 per square metre, with the cheapest units being priced at RMB 53,072 per square metre.

Beijing's city government announced pre-sale approvals for two new -- and record-breakingly expensive -- real estate … Read more>>>

Fosun CEO Liang Xinjun

China’s Fosun Confident It Has Cash to Buy Portuguese Insurer

Fosun CEO Liang Xinjun

2014/01/22 by Michael Cole Leave a Comment

Chinese conglomerate Fosun International Ltd (0656.HK), which is rapidly becoming one of China’s leading global investors, today reassured investors that it has adequate cash to finance its proposed 1 billion euro purchase of Portuguese insurer Caixa Seguros e Saude.

The company also indicated that it will continue to look for investment opportunities outside of China.

Chinese conglomerate Fosun International Ltd (0656.HK), which is rapidly becoming one of China's leading global … Read more>>>

The Melbourne Park Hyatt

Hong Kong’s Fu Wah Group Buys Melbourne Park Hyatt for A$135m

The Melbourne Park Hyatt

2014/01/22 by Michael Cole Leave a Comment

A privately owned Hong Kong real estate developer added to the flood of Chinese money into Australia this week by picking up the Melbourne Park Hyatt Hotel for a reported A$135 million (US$119.78 million).

The five star hotel is located near Melbourne’s Parliament House at 1 St Andrews Place and was developed in 1999 by Lustig & Moar at a cost of $150 million. The sale involves both the 240 room Park Hyatt hotel and an adjoining commercial car park.

A privately owned Hong Kong real estate developer added to the flood of Chinese money into Australia this week by … Read more>>>

CIFI Chairman Lin Zhong

CIFI China Launches USD200M in 5-Year Bonds in Fight for Financing

CIFI Chairman Lin Zhong

2014/01/22 by Michael Cole Leave a Comment

CIFI Holdings (Group) Co. Ltd. (HKEX Code: 884), a top 100 real estate developer in China, announced today that the Group has successfully issued its third issue five-year USD bonds with a coupon rate of 8.875%, with an order book of over USD1.1bn from investors in Asia and Europe.

In a statement the company indicated that net proceeds from the bond issue will mainly be used to refinance the Group’s existing debt and for other general corporate purposes.

CIFI Holdings (Group) Co. Ltd. (HKEX Code: 884), a top 100 real estate developer in China, announced today that the … Read more>>>

Mark Grier and Fosun

Fosun Group and Prudential Financial Plan Real Estate Joint Venture in China

Mark Grier and Fosun

2014/01/22 by Michael Cole Leave a Comment

Chinese investment firm Fosun Group and Prudential Financial, Inc. (PFI) from the US, today announced plans for a real estate joint venture to invest in mixed-use development projects in China, and in select overseas locations.

The two companies refrained from stating dollar amounts or location specifics for the projects, however, Fosun has recently focused within China on tourism developments such as its plans for a 7-star resort hotel in Shanghai. Overseas, the investment conglomerate purchased 1 Chase Manhattan Plaza from JP Morgan Chase for US$725 million last October.

Chinese investment firm Fosun Group and Prudential Financial, Inc. (PFI) from the US, today announced plans for a real … Read more>>>

Atlantis Hotel Hainan

Fosun Plans 7-Star Resort Hotel Near Shanghai Disneyland

Atlantis Hotel Hainan

2014/01/21 by Michael Cole Leave a Comment

Fosun International Ltd, the closely held Chinese conglomerate which owns Club Med, plans to build a 7-star resort hotel near Shanghai’s Disneyland.

According to a report in the official People’s Daily, Fosun CEO Liang Xinjun indicated that the group would build it’s second Atlantis Hotel near the as yet incomplete Disney project. “They (Atlantis executives) are really interested in building it near Disneyland,” Liang commented.

Fosun International Ltd, the closely held Chinese conglomerate which acquired Club Med last year, plans to build a … Read more>>>

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