Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Chinese Developer Bids to Become Australia’s Biggest Cowboy
Chinese real estate developer Shanghai Pengxin is set to become Australia’s largest farmland owner if two cattle company acquisitions get the green light.
Two separate offers have been placed totalling US$720 million for Consolidated Pastoral Co and S Kidman & Co Ltd, two of Australia’s biggest beef producers. Read more>>
Prada Pressing for Lower Shop Rents in HK
Italian fashion house Prada (1913.HK) is trying to negotiate lower shop rents in Hong Kong and Macau to reflect weak sales and the dwindling flow of wealthy tourists from mainland China, its chairman said on Thursday.
However, the Hong Kong-listed group does not plan to shut stores in China, which accounts for more than a fifth of its global sales and has been hit by a rout in stock markets and last month’s surprise devaluation of the yuan. Read more>>
Chinese Billionaire Drops $50M for Paparazzi-Proof LA Penthouse
It sold out to a Chinese billionaire within minutes, and it hasn’t even been built yet. And the fact that it will be constructed as an empty box only adds to the growing demand for high-end luxury residences in the United States.
The 12,000-square-foot penthouse will have a 9,000-square-foot garden and a swimming pool plus a luxurious private elevator connected to its own six-car garage, with plenty of space for a fleet of Bentleys. The unit will be surrounded by accordion glass walls with expansive views of the city. Read more>>
Agile Property Struggles at Home, But Plans More Projects in Malaysia
China-based property developer Agile Property Holdings is willing to venture into Malaysia’s mid-market property segment if there is a strong demand.
“We will follow the market demand, if there is demand for mid-segment, then we will go for it,” chief executive officer Wilson Ren said after a groundbreaking ceremony of its Mont Kiara’s sales gallery here today. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for more news as it happens.
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