ARA Asset Management has $3 billion it could spend on deals, and is searching for opportunities in China, Australia and other locations. And new deals may be much in demand from one of China’s richest men as Dalian Wanda’s relisting plan hits some turbulence. Meanwhile, China’s most frustrated developer is back on the acquisition trail – acquiring eight new sites in May. Read on for all the details.
ARA Asset Management Ltd., a manager of real estate trusts partly owned by billionaire Li Ka-shing, sees opportunities in China, Australia and South Korea as it prowls for deals with a war chest of as much as $3 billion.
Singapore-listed ARA has been assessing assets in a market where deal activity is as busy as during the global financial crisis, though the pricing gap between buyers and sellers needs to narrow, Founder John Lim said in an interview this week. Read more>>
A push by China’s richest man Wang Jianlin to delist his flagship property company, Dalian Wanda Commercial Properties, from the Hong Kong stock exchange has run into resistance, as analysts criticise the deal as being unfair to some stakeholders, while mainland regulators raise policy barriers in a sign they are less receptive to the relisting trend.
The announcement of the privatisation plan has been deferred unofficially on a number of occasions. Read more>>
Shares of Sunac China rose 2.6 per cent on Friday after it said it would buy seven properties on the mainland for a total of HK$5.22 billion. The company’s shares traded at HK$4.71 as of 11 am.
In a filing to the Hong Kong stock exchange on Thursday, it said it has signed a framework agreement to buy Top Spring International Holdings’ property projects in six mainland cities including Shanghai, Hangzhou and Shenzhen. Read more>>
Sunac China Holdings Ltd, which ranks among China’s most active real estate buyers this year, is in talks to acquire more land from other developers because prices at government auctions have risen to “absurd” levels, chairman Sun Hongbin said.
“We’re in talks on many, many projects, big and small,” in cities including Beijing and Shanghai, Mr Sun said in an interview in Beijing. “The prices are all fairly reasonable” compared to open auctions where many land parcels have been sold at prices higher than completed homes, he said. Read more>>
Bank of China has provided a $313.5 million loan to Jamestown, George Comfort & Sons and Loeb Partners on a block-wide NoMad office tower, Commercial Observer can first report.
The loan, which closed on May 18, will replace old debt and provide the borrowers with extra funds to complete renovations on the 15-story building at 63 Madison Avenue, a source with intimate knowledge of the deal confirmed on the condition of anonymity. Read more>>
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