A Chinese mall finds a lacy marketing edge that can’t be outdone by ecommerce, Swire signs up its first office tenant in Miami, and the parent company of the mainland’s Joy City mall chain decides now is a good time to raise an extra $768 million. Read on for all these stories and more.
A shopping mall in China seemed to have got the wrong idea when celebrating International Women’s Day with a one handed bra competition.
Six scantily clad female models lined up on a stage at the store in Liuzhou city on March 8, as men and women took it in turns to undo their bras using only one hand.
Bizarrely the models had masks on as they stood with their backs to the crowd. The winner was a woman who managed to undo all six bras in 14 seconds. Read more>>
Hong Kong-headquartered Swire Properties’ US subsidiary has welcomed its first lead tenant, Akerman LLP, one of America’s leading law firms – to Three Brickell City Centre.
It marks the opening of the first component of Swire’s HK$8 billion ($1.05 billion) Brickell City Centre development.
“As the most anticipated project in Brickell for years, the opening of our first office tower within our Brickell City Centre complex marks the beginning of an exciting new transformation for the city,” said Stephen Owens, president of Swire Properties Inc. Read more>>
COFCO Property (Group) Co Ltd plans to raise up to 5 billion yuan ($768 million) in a private placement of shares to fund new projects and to repay debt.
Breaking down the detail, the subsidiary of State-owned China National Cereals, Oils and Foodstuffs Corp will use half the money raised on new housing developments in major cities, and officials said it is already eyeing several high-end sites in Beijing, Shenzhen in Guangdong province and Yantai in Shandong province. Read more>>
Shanghai authorities held a meeting on Tuesday (March 8) to discuss measures to cool a surge in property prices after recent frenzied residential homebuying, according to people familiar with the matter.
The municipal government’s National Development and Reform Commission held discussions with regional authorities from the People’s Bank of China and the China Banking Regulatory Commission, said the people, who asked not to be named because the matter isn’t public. Read more>>
In the three weeks between putting his house on the market and selling it, a Shanghai school teacher saw the price rise 24 per cent.
The sudden spike in value meant the three-room apartment on the outskirts of China’s commercial capital eventually sold for the 3.1 million yuan ($640,000). But the vendor, who would only give his last name as Peng, was despondent.
“If I had waited another three weeks the price would have been 3.5 million yuan,” he told The Australian Financial Review. Read more>>
Sovereign wealth fund China Investment Corporation (CIC) and listed developer Mirvac may be considering a counter-offer for takeover target Investa Office Fund [IOF], sources told Street Talk on Wednesday.
It’s understood the two parties were working on a potential deal over the weekend. A proposal could be submitted as early as today, well-placed sources said. Read more>>
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