Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Real estate private equity firm Gaw Capital Partners has announced its exit from Cupertino Gateway, a class A office building in the heart of Silicon Valley. Gaw Capital Partners sold the property for USD 165 million with more than 40% internal rate of return (IRR). Gaw Capital Partners acquired Cupertino Gateway in September 2013 on behalf of institutional investors from Korea. Read more>>
CIFI Holdings Co. Ltd this week announced that its recorded contract sales reached a record high in September. According to a company statement, CIFI contracted sales of approximately RMB 3.01 billion last month, a new record high for the Group’s monthly contracted sales. The developer’s September numbers also represent a year-on-year increase of approximately 98% compared to September 2014 and a month-on-month increase of approximately 25% compared to August 2015. Read more>>
Talks between the parties involved in the stalled Baha Mar resort last week have been described as “constructive” and “another important step on the road to resolution” by the appointed Joint Provisional Liquidators (JPLs).
In a statement released on Sunday, Edmund Rahming, of KryS Global, and Alastair Beveridge and Nick Cropper, of AlixPartners, collectively the JPLs to the $3.5 billion Cable Beach development, said they had chaired talks with representatives from the Government, Export-Import Bank of China, CCA Bahamas Ltd and parent company, China State Construction Engineering Corporation, and the resort’s founder and investor, Sarkis Izmirlian. Read more>>
Home sales in mainland China, with the exception of some first-tier cities, failed to meet expectations during the recent Golden Week holiday, with analysts saying the positive impact of policy loosening by the government was weakening.
The number of homes sold between October 1 and 7, during the National Day holiday, rose 25.3 per cent year on year in first-tier cities, was up 37.3 per cent in second-tier cities and rose 40.6 per cent in third-tier cities, according to UOB Kay Hian, which compiled data from the China Real Estate Index System (CREIS), the mainland’s largest private provider of property data. Read more>>
Sales figures for Burberry are to reflect the slowdown in China when the company announces an update next week. Analysts at Jefferies expect it to announce a rise in group first-half revenues of 5% to £1.2 billion compared to a year ago.
This contrasts with the high growth the firm, which sells menswear, womenswear as well as beauty products, has previously enjoyed. Read more>>
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