…buildings to tenants. The change in strategy follows a 5.3 percent drop in SOHO’s share price after the company’s disappointing profit numbers were announced on Friday. Shares of Soho China closed at HK$5.40 per share on Friday, August 17th — making this the worst day for the company’s stock since December 19th. Explaining the shift in approach in an interview with Bloomberg TV, SOHO CEO Zhang Xin said, “For build and hold, there will not be many…
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SOHO China Puts Two More Projects Up for Sale and More Asia Real Estate Headlines
…, less than two weeks after its announcement of successful sale of Hongkou SOHO. Guanghualu SOHO2 in Beijing, located in the heart of the CBD with a saleable gross floor area of 94,300 square meters, and Sky SOHO in Shanghai, near the Hongqiao Transportation Hub with a saleable GFA space of 128,200 square meters, are the two latest developments that have been put on SOHO China’s sell list. Read more>> Billions for Acquisitions, Pennies for Managem…
Soho Shares Sink 40% as Blackstone Deal Fails and More Asia Real Estate Headlines
…deal on Friday as pre-conditions were unable to be satisfied. Read more>> Soho’s Pan and Zhang Make a Stir With US Open Appearance Soho China saw its deal to sell $3 billion in office properties to Blackstone blocked last week, but the Hong Kong-listed developer’s owners did not let the missed payday opportunity ruin their weekend, as chairman Pan Shiyi and his wife, Soho chief executive Zhang Xin, were sighted at the US Open tennis tournament. T…
SOHO China Buys Project in Shanghai’s JingAn District
…e its first entry into Shanghai, marked by the acquisition of the Exchange SOHO in August 2009. In one and a half years, SOHO China proposed and made five acquisitions, establishing its presence in five areas of Shanghai, specifically, Nanjing Road West, the Bund, Hongqiao transportation hub, Huai Hai Road Central and Chang Shou Lu. Founded in 1995, SOHO China is the largest property developer in Beijing and now possesses high-profile branded comm…
Is SOHO China Broke?
…siness Daily reported that, Company chairman Pan Shiyi had previously said SoHo China had cash of 20 billion yuan. However, according to the company’s Semi-Annual Report, SoHo China had actually only one billion yuan worth of cash or cash equivalent, after deducting taxes payable and other payables. With a recently acquired development in Century Avenue expected to be delivered only next July, the company currently only has two developments that w…
Fosun and SOHO Bund Deal a Bad Blind Date
…ers Fosun and SOHO for a site on Shanghai’s Bund. As announced recently by SOHO, and subsequently denounced by Fosun, SOHO has allegedly agreed with Shanghai Zendai and cash-strapped Greentown China to acquire their combined 50 percent stake in a 45,000 square metre commercial property south of Shanghai’s Bund area. The next day, Fosun, another of China’s largest developers and the owner of the remaining 50 percent of the project, said that they w…
Soho’s Pan Shiyi Wins Feng Shui Libel Lawsuit and More Asia Real Estate Headlines
…rdered by the Beijing Chaoyang District Court to apologise to Pan, and pay Soho 200,000 yuan (US$29,800) in compensation. The blog wrote that Pan’s Wangjing Soho project, designed by the late architect Zaha Hadid, carries inauspicious forces that would be bad for its tenants. Read more>> Singapore Data Centre Startup AirTrunk Raises S$450M Data centre startup AirTrunk has raised S$450 million in debt and equity to help build its first Singapore fa…
Is SOHO’s Pan Shiyi the Donald Trump of China?
…he moved into Manhattan skyscrapers and casinos Of course, let’s hope that SOHO doesn’t end up with as many bankrupt projects as Trump has chalked up. But following the conference call on Wednesday, SOHO China’s shares were trading up 4.9 percent thanks in part to a statement from the People’s Bank of China on Tuesday that banks must provide loans to first-time home buyers, but also perhaps due to China having more confidence in developers who tou…
I Owe, I Owe, So I’m Selling to SOHO
…speration has led to opportunity for ultra-aggressive commercial developer SOHO who already bought out Greentown’s stake in a project on the Bund last year, and have now snatched up 11 commercial property project in Shanghai since entering the market in 2009. Commenting on the transaction in a statement, SOHO chairman Pan Shiyi called the deal a “good buy” and the company, which specialises in developing strata title commercial projects, expects t…
Soho China’s Zhang Xin Goes Trophy Hunting in NYC
…s as Blackstone, but this low profile route might not be the best fit with Soho’s style. While the Soho power couple of Pan Shiyi and Zhang Xin are known as real estate developers, they are almost as well known for their penchant for publicity. Compared to other Chinese real estate executives who prefer to remain in the background, the masters of Soho are active on social media, speak out on political issues and routinely trumpet their asset acqui…
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