With China’s masses still nursing their new year hangovers, the US leads Asia’s real estate headlines as the Trump clan looks for ways to avoid formal charges while still cashing in on the region’s love for property. Beyond the adventures of Jared and Don Jr, Fosun looks for Aussie expertise in restoring a Xi’an landmark and some of China’s biggest insurers bet that there’s money in aging. Read on for the details on these stories and more as we come back from the spring festival break.
Special counsel Robert Mueller’s interest in Jared Kushner has expanded beyond his contacts with Russia and now includes his efforts to secure financing for his company from foreign investors during the presidential transition, according to people familiar with the inquiry.
A week after Trump’s election, Kushner met with the chairman and other executives of Anbang Insurance, the Chinese conglomerate that also owns the Waldorf Astoria hotel in New York, according to The New York Times. Read more>>
Donald Trump Jr. will travel to India this week to promote his family’s real-estate projects — but will also deliver a foreign-policy speech while appearing at an event with Prime Minister Narendra Modi.
Indian newspapers have been running full-page ads hyping the first son’s visit and the Trump Tower project in Mumbai under the headline: “Trump is here — Are You Invited?” The Washington Post reported. Read more>>
An 82-year-old former textile mill in an historic part of China’s Xi’an city centre is due for a major tourist renovation, with Woods Bagot appointed to head the project.
The site, Dahua 1935, currently serves as a historically-inspired tourist spot which already hosts theaters, cinemas, art centers and boutique hotels. The textile mill sits next to the Daming Palace, the imperial home of the Tang Dynasty. Read more>>
About an hour’s drive from downtown Shanghai sits a resort-like community housing hundreds of senior citizens. It is an ambitious experiment in retirement care in China.
The multistory complex, which can house up to 2,000 households, has a hospital, places of worship, a cinema and a gym. Residents gather to eat buffet meals, play mahjong and sing folk songs. To gain a spot in this luxury development, people have to buy a life insurance policy from Taikang Life Insurance Co., a privately held Chinese company. Read more>>
China reined in irrational outbound investment in hotels, cinemas and entertainment by domestic companies last year and will do so again this year.
The National Development and Reform Commission released a catalog of taboo trades for this year’s outbound investment recently. In addition to classing weapons development, cross-border water resource development and media as sensitive sectors for outward investment, the commission also restricted Chinese firms’ overseas investment in real estate, hotels, cinemas, entertainment and sports clubs. Read more>>
It was once Singapore’s tallest residential building and remains a landmark four decades down the road, but the horseshoe-shaped Pearl Bank Apartments could well fall victim to a demolition crew.
The building – sold to developer CapitaLand in a collective sale on Feb 13 – will likely not be conserved despite the wishes of heritage lovers and the Singapore architect who designed it. Read more>>