Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Mingtiandi 2024 APAC Real Estate Event Calendar
    • Mingtiandi APAC Residential Forum 2024
    • Mingtiandi Hong Kong Forum 2024
    • Mingtiandi APAC Logistics Forum 2024
    • Mingtiandi Singapore Forum 2024
    • Mingtiandi APAC Data Centre Forum 2024
    • Mingtiandi Japan VIP Conference 2024
    • More Events
  • MTD TV
  • People
    • Industry Moves
    • MTD TV Speakers
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Gambling Giants Rush to Invest $10B for Japanese Casinos and More Asia Real Estate Headlines

2017/02/23 by Michael Cole Leave a Comment

Melco Crown's Lawrence Ho

Melco Crown’s Lawrence Ho wants to get his hands on a Japanese casino licence

The big news today could make pachinko passe as Japan gets ready for the 21st century money-milking machines that are modern casinos. While Melco Crown’s Lawrence Ho looks to Japan for his next deal, China Vanke has found a way to make money from WeWork in New York and Citic Bank is a step closer to collecting on a very bad debt indeed. Read on for all these stories and more.

Melco Crown Joins Rush to Invest $10B for Japanese Casinos

Global gambling chiefs said they are ready to spend $10 billion or more to set up shop in Japan, which in December opened a path to legalizing casinos.

It is “a good number to use at this point of time,” MGM Resorts International Chief Executive James Murren said Wednesday, noting that its City Center project in Las Vegas cost about $9 billion. Read more>>

WeWork Leases 65K SqFt in Vanke’s New York Tower

Shared workspace provider WeWork, one of the most prolific consumers of office space in New York City, has inked a 64,390-square-foot lease at the historic Bush Tower at 130 West 42nd Street, according to the New York Post.

WeWork agreed to take the space—occupying the entire fifth through eighth floors of the 29-story, century-old office tower, located between Avenue of the Americas and Broadway—earlier this month. Asking rents at the 250,000-square-foot property range up to the mid-$70s per square foot, according to the Post. Read more>>

Citic Bank Wins Vancouver Case Against Absconding Borrower

China’s Citic Bank has won a landmark ruling in a Canadian court, which ordered a mainland national to comply with a Chinese judgment and repay the bank RMB50 million (US$ 7.3 million), plus interest, that the bank says was spent in part on real estate in Vancouver.

The rare ruling could open the “floodgates” for the pursuit of illicit Chinese funds in Canada on the basis on mainland rulings, according to a money-laundering expert involved in the case on Citic’s behalf. Read more>>

China’s Luvarc Buys Sydney Site for A$20M

Chinese developer Luvarc has emerged as the buyer of a major block of land in Melbourne’s Wheelers Hill as it builds up its holdings in the city’s eastern corridor.

Luvarc is stepping up to larger developments and is believed to have paid more than $20 million for the block, which can sustain a mixed-use residential development. Read more>>

New World Net Profit Jumps 31% While Boss is on the Mend

Billionaire Henry Cheng Kar-shun’s New World Development reported better-than-expected earnings for the first half of the current financial year.

The Hong Kong real estate developer saw its net profit climb 31.4 per cent to HK$4.3 billion (US$ 559 million) in the six months ended December 31, the company said in a statement to the stock exchange. Earnings per share stood at 46 HK cents. Analysts polled by Bloomberg had forecast a net profit of HK$3.4 billion. Read more>>

Sino Land Profits Drop 11.4% on Slowdown in Investment Deals

Hong Kong-listed developer Sino Land posted an 11.4 per cent drop in net profit to HK$3.4 billion (US$437 million) for the six month period ended December 31, because of lower gains from the disposal of investment properties.

Earnings per share stood at HK$ 0.56, down from HK$0.64, while the interim dividend was unchanged from a year ago at 13 HK cents. Read more>>

A Closer Look at a Mysterious Mainland Property Buyer

Ye Jianming isn’t a name that rings many bells. But it will, considering what he’s achieved so far in a country where the state firms take all.

He is the sole private entrepreneur to win a stake in an Abu Dhabi onshore oil concession – which has a lifespan of 40 years – with 4 per cent. British Petroleum and China National Petroleum Corp got 10 and 8 per cent respectively. Read more>>

Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: crelist Tagged With: China CITIC Bank, China Vanke, Luvarc, Melco Crown, New World Development, Sino Land, Vancouver, WeWork

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

  • This field is for validation purposes and should be left unchanged.

MTD TV

Warburg Pincus, Princeton Digital Foretell Asia’s Data Centre Future
China logistics thumbnail
China REITs Offer Fresh Funding Flexibility for Logistics Developers: MTD TV

More MTD TV Videos>>

People in the News

Mandy Qian of Cushman & Wakefield
C&W Promotes Mandy Qian to Lead Greater China Business Development
Tom Gaffney
CBRE Promotes Tom Gaffney to President of North Asia Advisory, Succeeding Ben Duncan
Mi Tao CIC
Asia Real Estate People in the News 2023-11-27
Michael Smith Hongkong Land
Hongkong Land Names Mapletree’s Smith Chief Executive as Office Slump Continues

More Industry Professionals>>

People in the News

C&W Promotes Mandy Qian to Lead Greater China Business Development

Mandy Qian of Cushman & Wakefield

Cushman & Wakefield has promoted Mandy Qian to head of business development services for Greater China, taking over … Read More>>

CBRE Promotes Tom Gaffney to President of North Asia Advisory, Succeeding Ben Duncan

Tom Gaffney

CBRE has elevated Tom Gaffney to president of the firm’s North Asia advisory business, with the post’s current holder, … Read More>>

Asia Real Estate People in the News 2023-11-27

Mi Tao CIC

China’s sovereign fund leads Mingtiandi’s review of personnel moves from around Asia this week with news that CIC’s head … Read More>>

Hongkong Land Names Mapletree’s Smith Chief Executive as Office Slump Continues

Michael Smith Hongkong Land

The biggest landlord in Hong Kong’s Central district is headed to a second straight year of declining profits and the … Read More>>

More Industry Professionals>>

Latest Stories

ian-schilling invesco
Invesco, Alyssa Buy 15 Japanese Apartment Assets in Latest Multi-Family Bet
Valerie Wong Guocoland
GuocoLand Reaches 90% Take-Up at Guoco Midtown as Singapore’s Bugis Area Rises
Equalbase chief executive Nicholas Bischoff
Equalbase Ties Up With Malaysia’s Sunway for $1.7B Johor Logistics Project

Sponsored Features

Macquarie Asset Management Confident in Continuing Rise of APAC Logistics
Asia Pacific a Dominant Source of Global Capital
Crystal Investment and SOCAM Form Proptech VC Firm

More Sponsored Features>>

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2023 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Membership
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2023 China Advertising Media Ltd (Samoa). All rights reserved.

  • This field is for validation purposes and should be left unchanged.