…the crosshairs and maintain control through shareholding. Late last month, Longfor Group Holdings’ founder Wu Yajun stepped down as chairperson and gave her role to chief executive Chen Xuping, citing age and health reasons. In September, Chinese billionaire couple Pan Shiyi and Zhang Xin resigned as chairman and chief executive of Soho China shortly after the company’s CFO, Ni Kuiyang, came under investigation for insider trading associated with…
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Singapore Office Tower on Market for $473M and More Asia Real Estate Headlines
…are used for healthcare and related purposes. Read more>> Country Garden, Longfor Boost Hang Seng Index as China Adds Stimulus Hong Kong stocks jumped, extending the biggest gain in over eight months last Friday, as Beijing continues to roll out more stimulus measures to bolster the property sector and the COVID-hit economy. The Hang Seng Index ended 1.7 percent higher at 17,619.71 on Monday, while the Hang Seng Tech Index jumped 1.8 percent and…
China Backs Offshore Loans for Builders and More Asia Real Estate Headlines
…nd Under Government Guarantee Plan Country Garden Holdings may follow peer Longfor Group to become a repeat issuer of local bonds under a key programme that guarantees such offerings to help builders ease liquidity crunches. Country Garden Real Estate Group, the onshore subsidiary of China’s biggest developer by contracted sales, is considering selling RMB 1 billion ($140 million) in three-year medium-term notes guaranteed by state-backed China Bo…
Blackstone’s Schwarzman Gives REIT Pep Talk and More Asia Real Estate Headlines
…China’s Bank of Communications said Thursday that it signed strategic cooperation agreements to support eight property firms, responding to Beijing’s call to ease a severe liquidity crunch in the sector. The bank said it will deepen cooperation with the property firms, including Longfor, Gemdale and Greentown, in terms of property development loans, loans for M&A deals and bond investments, according to a statement released by the lender. Read mor…
Country Garden Boss Yang Guoqiang Steps Aside as Daughter Named Sole Chairman
…esident and executive director, Zhang Peng (no relation). A month earlier, Longfor Group Holdings founder Wu Yajun had stepped down as chairperson and given her role to chief executive Chen Xuping, citing age and health reasons. In September, Chinese billionaire couple Pan Shiyi and Zhang Xin resigned as chairman and chief executive of Soho China shortly after the company’s CFO, Ni Kuiyang, came under investigation for insider trading associated w…
BlackRock’s Head of China Quits Firm and More Asia Real Estate Headlines
…the ailing housing market and restore growth momentum. Shares of developer Longfor Group surged 7.8 percent while peers Country Garden jumped 6.2 percent and China Resources Land climbed 4.6 percent. Read more>> Chinese Regulator Asks Zhuhai Wanda for More Details Ahead of Planned IPO China’s securities watchdog has asked property management firm Zhuhai Wanda Commercial Management Group for more details on its corporate governance as part of its a…
China’s Central Bank Meets with Private Real Estate Giants to Assure on Policy Support
…is on the way. In a meeting on Thursday which included representatives of Longfor Properties, CIFI Holdings and Midea Real Estate, along with major commercial banks and other private giants, Pan Gongsheng, governor of the People’s Bank of China (PBOC), emphasised that the finance industry needs to support private enterprises and underlined the government’s commitment to providing liquidity for cash-strapped industries, according to a notice on th…
Property Measures Deliver Jolt to China Stocks and More Asia Real Estate Headlines
…Hang Seng China Enterprises Index gained 3.2 percent, with property names Longfor Group Holdings and China Resources Land among the top performers. A Bloomberg Intelligence gauge of developer shares surged 7.2 percent, the most in six weeks. Read more>> Country Garden Reportedly Wires Ringgit Bond Coupon Distressed Chinese builder Country Garden Holdings has wired a coupon payment coming due on a ringgit-denominated bond, according to people fami…
China Accepts Applications for First Commercial REITs and More Asia Real Estate Headlines
…ts, with both on track for record daily falls. Vanke is second behind peer Longfor Group Holdings Ltd. as the biggest decliner this year in a Bloomberg index of Asian investment-grade dollar bond issuers, each losing more than 30 percent as of Wednesday. Read more>> Singapore Bungalow Rents Slip Following Money-Laundering Scandal Landlords of Good Class Bungalows (GCBs) have begun lowering rents, as demand from ultra-high-net-worth individuals fal…
China Lists 50 Real Estate Firms Eligible for Funding and More Asia Real Estate Headlines
…rt to put a floor under the property crisis. China Vanke, Seazen Group and Longfor Group Holdings are among companies that have been named in a draft of the so-called white list, the people said, asking not to be named discussing private matters. Read more>> McDonald’s Buys Back Carlyle’s Minority Stake in China Unit McDonald’s Corp agreed to buy Carlyle Group’s minority stake in the partnership that runs the restaurant chain’s business in China,…