…ng stores Fashion retail group Folli Follie, in which Chinese conglomerate Fosun International is the second-largest shareholder, will be closing all shops in Hong Kong as it has applied for automatic liquidation, local media reported. More than 10 stores will close and over 60 employees will be disbanded, the reports said. The Greek retailer operates a network of stores in the mainland, Hong Kong, Taiwan and Japan. Read more>> Harvey Nichols Owne…
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Hony’s $1.2B Buy of SF’s Oceanwide Centre Delayed and More Asia Real Estate Headlines
…irst quarter of 2020, their first quarterly decline in a year. Read more>> Fosun Invested Cirque du Soleil File for Bankruptcy Cirque du Soleil Entertainment Group filed for bankruptcy protection in Canada on Monday, in an effort to salvage a circus business that’s ground to a halt because of the coronavirus pandemic. The company said it would lay off almost 3,500 employees who have been furloughed since March, leaving it with a core team of 213 p…
Asia Real Estate People in the News 2020-08-10
…uilder, Wang had spent six years in the real estate division of Shanghai’s Fosun Group, where he had served most recently as director of asset management in the company’s overseas asset management department. The graduate of Hong Kong Polytechnic also has previous experience with mainland developer Yango Group and Hong Kong’s Wharf Holdings. Wendy Lau has been promoted to executive director for office services with Knight Frank in Hong Kong, accor…
Asia Real Estate People in the News 2020-09-14
…Zhang had recruited Chen, formerly an executive with China Resources Land, Fosun Property Holdings and Sunshine City, to join Sinic as CEO and co-chair in early March this year, with Chen now said to be leaving in order to devote more time to personal and other commitments. Mainland developer Times China Holdings informed the Hong Kong exchange on 7 September that it had appointed Huang Sining as its new chief financial officer with effect from 10…
Son of Former Changi Boss Charged in Maid Case and More Asia Real Estate Headlines
…ding Carlyle Group Inc and MBK Partners, people with knowledge of the matter said. CMC Holdings Ltd, which is selling the business, has asked for first-round indicative bids as soon as the end of November, the people said. Hillhouse Capital and Chinese conglomerate Fosun International Ltd are also studying the business, said the people, who asked not to be identified because the matter is private. Read more>> Tune in again soon for more real estat…
Asia Real Estate People in the News 2021-01-04
…Zhen, has been promoted to co-chairman of the retail subsidiary of China’s Fosun Group, replacing Xu Xiaoliang, who is stepping down from the chairman role but will continue to act as a director of the company. In the same announcement, the company said that Tang Jining will replace Huang as executive president. The change in roles took effect from 25 December. The manager of CDL Hospitality Trust announced last week that Eric Chan Soon Hee has be…
HNA Declares Bankruptcy, Begins Restructuring After Struggling to Pay Debts
…ing to HNA, as well as to Wang Jianlin’s Dalian Wanda and Guo Guangchang’s Fosun Group as the government grew concerned over debt levels and outflows of foreign exchange. One month later, Bank of America Merrill Lynch told its team to stop working on transactions with HNA Group, after Citigroup and Morgan Stanley had already taken similar steps. In late July 2017 HNA further worried creditors when it said that its largest shareholder, Guan Jun, a…
Asia Real Estate People in the News 2021-03-01
…ent and investment. Tan, who also has prior experience with Shanghai-based Fosun Group, joins chairman Kwek Leng Beng’s personal team just as CDL last week declared a record $1.4 billion loss propelled by its investment in China’s Sincere Group. Adam Bury, an executive vice president for investment sales in Asia with JLL’s Hotels and Hospitality Group, has been named head of investment sales for Queensland with the division of the global property…
BioNTech Plans SE Asia Headquarters in Singapore and More Asia Real Estate Headlines
…121 million). The Sichuan-based company is offering 200 million shares at an indicative price range of HK$3.8 to HK$4.7. It attracted six cornerstone investors that agreed to subscribe to a combined $49.4 million worth of shares, including Xiaomi, Fosun International and KE Holdings, a China-based real estate services provider listed in the US. Read more>> Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, o…
New World Breaks Ground on Huaihai Road Project in Shanghai
…ews, a division of NASDAQ-listed Sina Corp, leasing 5,000 square metres in Fosun’s Bund Finance Center, which is also in Huangpu district. Celebrating the groundbreaking The brokerage report also noted that Huaihai Zhong Lu remained Shanghai’s third most expensive business district in the second quarter, with office rents averaging RMB 9.2 per square metre per day. While the introduction of four new retail projects during the period boosted availa…