…y the second largest developer, Alibaba-controlled furniture mall operator Red Star Macalline. The retail specialist continued its dominance thanks in part to a more than 18 percent jump in operating revenue compared to 2018, when it took in RMB 32.74 billion. Wanda’s Wang Jianlin has had a few eventful years To further bolster its future revenues, Wanda capped off 2019 by announcing that it was opening a further 17 Wanda Plaza malls in December,…
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WeWork Shuts Down HK Flagship Location and More Asia Real Estate Headlines
…earlier closings in the city. Read more>> Vanke Deleverages to Meet ‘Three Red Lines’ China Vanke aims to further deleverage to meet Beijing’s “three red lines” policy in the first quarter. The developer’s liability-to-asset ratio came in at 70.4 percent, failing to meet the three red lines, while the other two indicators, net gearing ratio (18.1 percent) and ratio of cash to short-term debt (1.8 times) were compliant. Read more>> Singapore Home P…
IDAA Online
…, the activities of the Industrial Development Association of Asia are now online Became a media consultant — Got recruited to give advice via website called Primaryinsight.com Office Shopping — Checked out a couple of units near Shanghai Stadium and another on Yan’an Lu US taxes — Being poor I don’t really have to pay much, but don’t forget to file Played golf — Can’t afford “real” golf, so nine holes at Hongqiao Golf will have to cover me until…
Jack Ma Takes in $5.75 Bil – And Takes on China’s Real Estate Barons
…uring December last year, China’s feistiest ecommerce guru had already wagered a hundred to one with one of China’s biggest mall developers, Wang Jianlin of Dalian Wanda, that online shopping would soon account for half of China’s retail sales. Appearing jointly on Chinese television the two billionaires bet that if ecommerce could account for 50 percent of China’s retail market that Wang would pay Ma RMB 1 million. But if not, Ma would need to pa…
Shenzhen Online Music HQ Designed to Visualise Downloads
…ownloading. (But only if you’re walking past the headquarters of the right online music company in Shenzhen). Chinese design studio, UNIT (Urban New Idea Team) designed the newly completed headquarters of online music company A8 to resemble a series of sound waves, and incorporated interactive LED lighting into the facade that visualises the music being downloaded from the company’s website. “The approach for this project was to create a tower whi…
Buyer of HK$9.95B Henderson Project in Hong Kong Arrested for ‘Mafia Practices’
…and other acquisitions came at least in part from its “88 Wealth Network” online lending platform, which it launched in 2013. The system offered alternative investment opportunities to retail and institutional investors, touting annualized returns of from eight percent to 13 percent. The underlying assets included Airbus A318 jets, high-end mahogany furniture, calligraphy, wine, watches and diamonds. The platform, once lauded as a new fintech mod…
Pradera Retail Asia Refines Strategic Vision With Mosaic Shanghai Sponsored Feature
…ces. Leveraging Online Tools for Offline Traffic Pradera Retail Asia partnered with Abibaba’s Tmall to bring online shopping to offline shopping festival Beyond increasing the physical appeal of the asset, Pradera Retail Asia has leveraged the power of China’s most powerful online platforms to help build awareness of, and engagement with, its offline initiatives. “Although markets like the US are doing interesting things to create better physical…
Wanda and Tencent Reboot Retail Partnership With Smart Mall JV
…ers into his Wanda Plazas The new initiative will include Wanda’s ffan.com online-to-offline (O2O) shopping platform and also incorporate Wanda’s Internet Technology unit, after the group was reported earlier this year to be laying off some 95 percent of its 6,000 staff. Tencent is said to be contributing access to its online traffic, among other resources, and Gaopeng would add the use of its electronic invoicing expertise. This latest deal comes…
Shenzhen Bans Sale of 6 SQM Apartments After Online Uproar and More Asia Real Estate Headlines
…70 major cities extended their rising trend in August 2016, a development that could attract further regulatory tightening in some second-tier cities. “Robust price growth in Hangzhou, Xiamen, Wuhan, Nanjing, Zhengzhou and Suzhou in the past 6-9 months triggered regulatory tightening in their residential property markets in August and September this year” says Franco Leung, a Moody’s Vice President – Senior Credit Officer. Read more>> Tune in agai…
Wanda Repackages Flailing O2O Platform into New Online Division
…3 billion ecommerce sensation. Shortly after that announcement, Wanda acquired a controlling stake in little known third-party payment provider 99bill for a reported RMB 2 billion (then $320 million). Despite the investment, the platform never got off the ground. It took eight months for a website to be developed and the platform suffered from a lack of available merchandise and a disappointing mobile application. Both Tencent and Baidu quietly wa…
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