Yang Guoqiang, chairman of Country Garden China’s Country Garden has shrugged off a government clampdown on cross-border capital flows by acquiring its second Hong Kong project in less than three months. The Guangzhou-based developer is picking up a 60 percent stake in a waterfront residential site in Ma On Shan for HK$2.44 billion ($312.3 million). A subsidiary of the mainland developer purchased the stake from Hong Kong’s Wang On Properties, fo…
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Country Garden Family Reap $50M Windfall Despite Default and More Asia Real Estate Headlines
…family will bag $50 million in dividends from a stake in its services arm Country Garden’s Yang Huiyan and family will bag $50 million in dividends from a stake in the Chinese developer’s services arm, with that story leading Mingtiandi’s headline roundup today. UBS is also making news as it plans to take more space at a Hong Kong office tower than originally planned, and Mapletree Industrial Trust completes a Singapore workshop disposal. Family…
Country Garden Readies $530M in Assets for Sale and More Asia Real Estate Headlines
…listing its Phoenix City Hotel in Guangzhou’s Zengcheng district for sale Country Garden has put $530 million worth of assets on the block in Guangzhou in a bid to repay debt due within the next six months, with that story leading Mingtiandi’s headline roundup today. Also making the news, The Ritz-Carlton Residences Singapore sells two adjacent units for $12 million and Country Garden’s offshore creditors appoint financial and legal advisors for…
Developer Country Garden Sells $900M Bond
Country Garden boss Yang Guoqiang Chinese real estate developer Country Garden Holdings sold a $900 million five-year bond on Thursday as the Guangzhou-based firm continues to restructure its financing in the face of China’s property slowdown. The top-ten China developer’s latest bond issue was priced at a yield of 7.5 percent, with the proceeds intended to refinance $900 million in earlier notes that yielded 11.125 percent and are callable next…
Country Garden Says It Will Take Over Shui On Project in Foshan
…re (20 million square foot) mixed-use development in Guangdong province by Country Garden would mark the latest in a string of asset sales by Shui On Land, which last year sold two office towers in Shanghai for a combined RMB 12.3 billion ($1.88 billion). Country Garden president Mo Bin, who announced the pending transaction, also indicated that more deals between the mainland developer and Vincent Lo’s Shui On could be on the way. Shui On, which…
Malaysia Grants Tax Breaks to $121B Country Garden Project in Iskandar
…the hereditary local leader whose family has partnered in the project with Country Garden, which owns a 60 percent stake in the development. Country Garden chairman, Yang Guoqiang was also present. Creating a New Shenzhen Next to Singapore? Malaysian officials have stated that they expect the Iskandar initiative, which Forest City is a part of, will create 220,000 jobs in high value sectors such as finance and ecommerce over the next 20 years. Cou…
HK-Listed Developer Country Garden Elevates Yang Huiyan, China’s Richest Woman, to Co-Chair
…mped her gaudy profile even further, becoming co-chair of Hong Kong-listed Country Garden Holdings alongside her father, self-made tycoon Yang Guoqiang, or Yeung Kwok Keung as he is known in Hong Kong. Yang, 37, who owns 57 percent of the shares in the top three mainland developer, was elevated from the role of vice chairman on Friday, according to a filing the company made with the Hong Kong Stock Exchange. She will be focused on running the day-…
R&F Owners Sell Property Management Unit to Country Garden in $1.3B Deal
…an announcement to the Hong Kong exchange Monday afternoon by the unit of Country Garden Holdings. Just four minutes later, R&F Properties announced that its chair and vice chair would be providing the developer with HK$8 billion in financing over the next one to two months. “With the financial support from the Major Shareholders and the expected positive progress from corporate actions in the coming months, the Group is highly confident to conti…
Country Garden Set to Avoid RMB Bond Default and More Asia Real Estate Headlines
Country Garden chair Yang Huiyan (Image: Country Garden Weibo) Country Garden is likely to avoid its first default on RMB notes after the majority of bondholders agreed to defer payment, with that story leading Mingtiandi’s headline roundup today. Also in the news, Li Ning goes into damage-control mode as shareholders question the sportswear firm’s purchase of a Hong Kong office building and WeWork wins landlord support for its bankruptcy deal. C…
Country Garden to Help McD’s Open 2000 More China Burger Joints
…e end of July. Burger Brand Links with Developers to Up Its China Game The Country Garden partnership is similar to a deal McDonald’s forged last month with residential giant Evergrande Real Estate Group, in which the food retailer agreed to piggyback on Evergrande’s nationwide property portfolio to accelerate its push into China’s lower-tier cities. McDonald’s is said to be pursuing similar tie-ups with other top developers as the company targets…
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