The overseas adventures of some of Asia’s largest real estate companies lead Mingtiandi’s headline roundup today, with Henderson Land taking sole possession of a beachfront hotel in Hawaii.
One of China Vanke’s biggest US deals has turned into something quite different from a beach vacation, as the mainland giant’s partner in a Manhattan residential development has filed suit in a New York court, and a Shenzhen developer is aiming to refinance an office campus now leased to Facebook.
Hong Kong’s Henderson Land is now the sole owner of the Four Seasons Oahu hotel in Hawaii, according to a US news report.
Ko Olina master developer Jeff Stone’s company, The Resort Group, announced today that it has sold its interest in the Four Seasons Resort Oahu to Henderson, which had previously invested in the project, which is now shuttered due to the COVID-19 pandemic. Read more>>
Rosen’s partner, China Vanke, “orchestrated an irreconcilable and grossly improper conflict of interest” that put it “on both sides of the borrower-lender relationship without RFR’s consent”, Rosen’s firm alleges in a lawsuit filed last Friday in New York County Supreme Court, Crain’s reported. Read more>>
Kylli, a subsidiary of Shenzen-based developer Genzon Investment Group, is in the market for a $750 million loan for Burlingame Point, a state-of-the-art office campus in Burlingame, California, the Commercial Observer reported.
The property is fully leased to Facebook for use as the headquarters of its virtual reality subsidiary, Oculus. The social media giant inked a 12.5-year lease for the space in 2018, with the contract commencing from 1 August 2020. Facebook has since taken possession of the property and is now in the process of building out its space. Read more>>
Keppel Data Centres Holding (Keppel DC), City Gas and City-OG Gas Energy Services will explore using liquefied natural gas (LNG) and hydrogen to power Keppel DC’s floating data centre park in Singapore.
The park is in its exploration phase, the three parties said yesterday, the same day that they signed a memorandum of understanding for the collaboration. They will jointly evaluate LNG procurement strategies and the energy transition to hydrogen in the longer term. Read more>>
The Beijing-based company has reportedly been in talks with banks such as Goldman Sachs for its IPO plans. A source from ByteDance responded to 36Kr, saying that the firm is taking stand-alone listings for some of its businesses into consideration but it has yet to finalise the decision.
It was reported in July that ByteDance was considering taking its domestic business public in Hong Kong or Shanghai, which could fetch it a $100 billion valuation. The company was also said to be preparing for an IPO for its smaller businesses outside of China — including TikTok — in Europe or the US. Read more>>
Landlords of premium office space in Shenzhen are having to go beyond cutting rents to lure tenants, providing customised facilities and flexible arrangements to attract fast-expanding tech firms as vacancy reached a record in the special economic zone.
There was close to 2.4 million square metres (25.8 million square feet) of empty space — about 13 times the gross floor area of Hong Kong’s IFC towers — in Shenzhen in the third quarter, according to CBRE, while JLL said the vacancy rate stood at a record 27.8 percent in October. Read more>>