China’s biggest billionaire is promising to make investors all a bit richer if they back his plan to de-list Dalian Wanda Commercial Properties in Hong Kong. Also, a major Singaporean developer buys a business park in the UK and China continues its crackdown on P2P downpayment loans. Read on for all these stories and more.
Chinese billionaire Wang Jianlin is offering to pay investors up to 12 percent annual interest if his Dalian Wanda Group fails to re-list its Hong Kong quoted property arm in Shanghai within two years of taking it private, documents seen by Reuters show.
In a presentation document reviewed by Reuters, Dalian Wanda has given interested investors until Monday to pay a deposit as it seeks to raise fund to privatise Dalian Wanda Commercial Properties, China’s largest commercial developer. Read more>>
Reading, England’s largest business hub Green Park is in the process of being sold for a reported £500m. Current owners Oxford Properties have confirmed they are in talks with Singapore-based Mapletree Investments but were reluctant to comment on figures.
Director of the firm Rory Carson said he would not confirm numbers but added the deal is hoped to be completed by next month. Read more>>
Beijing got off to a successful start in its efforts to stem illegal fund flows to the sizzling property market as 17 peer-to-peer (P2P) lending platforms suspended loans for down payments on property.
The suspensions come just two days after China’s central bank announced plans to crack down on illegal lending to homebuyers. Read more>>
A baby boom on the Chinese mainland is helping stoke demand for luxury apartments in Beijing, surprising both demographic planners and property developers who hadn’t foreseen that the relaxation of China’s one-child policy earlier this year would lead to the imminent emergence of larger urban families — and help reduce stocks of high-end projects in the city.
The official number of pregnant women in Beijing in March was the highest for any single month since May 2014, according to data cited by the 21st Century Business Herald. Read more>>
Ascott, the world’s largest owner-operator of international serviced residence, will more than double its operating portfolio in East China within the next four years, a senior company official said.
The Singapore-headquartered company, which now operates nine properties in the region spanning three distinctive brands which also include Somerset and Citadines, have secured another 12 management contracts in its development pipeline. Read more>>
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