CIFI chairman Lin Zhong has linked up with Henderson for another mainland deal
At the top of today’s headlines, Hong Kong developer Henderson Land has again linked up with Shanghai’s CIFI Holdings on a mainland project, and home-sharing giant Airbnb is looking to double its investment in China over the next year. Also in the news, China’s “e-sports” addicts are in luck, as New World Development is planning to build stadiums in its K11 malls where they can watch people get paid to play computer games. Read on for all these stories and more as Mingtiandi takes you on our daily cruise through the news.
Henderson Investing S$135M in CIFI Shanghai Project
CIFI Holdings (Group) Co. has agreed to jointly develop a property project in Shanghai with Hong Kong-listed blue-chip developer Henderson Land Development Co.
CIFI Holdings said Friday that Henderson Land unit Henderson China Properties Ltd. will hold a 50 percent stake in Xu Chang Co., which owns a commercial property project in Shanghai with a planned total gross floor area of 44,481 square metres. CIFI will own the remaining 50 percent stake in Xu Chang. Read more>>
Airbnb to Double Its China Investment Over One Year
Airbnb Inc, a US-based home-sharing service provider, will continue to grow its presence in China, hiring local employees and working closely with the government to further tap the potential of the country’s fast-growing inbound travel market, said Chris Lehane, the company’s head of global policy and public affairs.
In the next year, Airbnb will double its investment in China, triple the size of the local workforce, continue to hire local engineers, and strengthen cooperation with the Chinese government, according to the company. Read more>>
CapitaLand Commercial Trust Completes $208M Sale of Wilkie Edge
The commercial building known as Wilkie Edge has now been officially removed from CapitaLand Commercial Trust’s portfolio of properties, the REIT announced on 11 September.
CapitaLand Commercial Trust first announced in July 2017 that it was divesting the 12-storey property to Lian Beng Pte Ltd for a sale consideration of S$280 million. The sale consideration represents a gain of 53.3 percent over Wilkie Edge’s original purchase price of SG$182.7 million in 2008, and as such, the REIT is expected to realise a net divestment gain of SG$76 million from the transaction. Read more>>
Wanda Touts Wang Jianlin’s Hong Kong Visit
Chinese conglomerate Dalian Wanda Group said on Monday its chairman Wang Jianlin was in Hong Kong on Sept. 8, just weeks after some media outlets said he had been stopped from leaving China.
Wanda said on its website (www.wanda-group.com) that Wang met with Hong Kong’s former leader, Tung Chee-hwa. Two photos published on the website showed Wang, one of China’s richest men, with Tung, standing in front of a Hong Kong Special Administrative Region logo. Read more>>
New World To Build Seven E-Sports Stadiums at K11 Malls in China
New World Development, the Hong Kong conglomerate, has teamed up with Asia’s leading mobile e-sports brand Hero Entertainment to build a network of e-sports stadiums in its K11 malls in cities across China, aiming to offer a “game-changing” retail experience targeted squarely at millennials and young online games fans.
K11s will also host Hero Entertainment’s Hero Pro League, one of Asia’s largest mobile e-sports leagues, and other animation, comic, game and novel franchises, in its projects in at least nine cities: Hong Kong, Beijing, Shenzhen, Shenyang, Wuhan, Ningbo, Tianjin, Shanghai and Guangzhou. Read more>>
Korea’s E-Mart Said Looking to Sell China Outlets to CP
South Korean retail giant E-Mart is in talks with Charoen Pokphand Group of Thailand to sell its five stores in China, which have been hit hard by falling sales and mounting losses, a source familiar with the matter said on Friday.
“E-Mart is negotiating with CP to sell its stores in China,” according to the source, asking not to be named. “The talks are still ongoing, so we do not know yet how the deal is [going to] unfold.” Read more>>
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