Sheldon Adelson is looking for a new CFO in Macau after just 4 months
Macau’s gaming industry claims another casualty as a top official at Sheldon Adelson’s troubled Asian outlet hits the road after just four months. Also in the headlines today, Hong Kong developers rush to launch new projects amidst a frothy market, and mainland home sales slump after policy restrictions. Read on for all these stories and more.
Sands China CFO Out After 4 Months
A key executive at one of Macau’s biggest casino operators has resigned after just four months in the job.
The shock departure of Sands China chief financial officer Stephen Law Cheuk-kin – who quit as finance director of Hong Kong’s MTR Corporation to take up the casino job in September last year – is the latest of a number of high-level corporate exits in the Macau gaming industry in recent months. Read More>>
Hong Kong Developers Line Up to Launch Projects in the New Year
With the advent of the Year of the Rooster, local developers are lining up to roll out their new projects.
Nan Fung Group yesterday launched the second price list for 50 flats at its residential project in Shau Kei Wan – Island Garden. The flats range in size from 485 to 1,228 saleable square feet, with listed prices between HK$11.44 million and HK$37.06 million. Read More>>
China Home Sales Slump as Much as 70% in Jan After Policy Moves
Housing transactions in China’s hottest cities cooled significantly in January after the central government rolled out a series of tough measures to curb runaway home prices, recent data showed.
Analysts say the cooling shows the nationwide policy tightening has started to take effect and property transactions and prices will face pressure in cities where prices rose dramatically in 2016. Read More>>
China Oceanwide’s Genworth Deal Hits Lawsuit Snag
Genworth Financial can’t shut the door on being purchased by one of China’s largest companies just yet, as it possibly faces another class action lawsuit from disgruntled shareholders and customers.
China Oceanwide Holdings Group announced last year that it plans to buy Genworth Financial, one of the U.S.’s largest mortgage insurers, for $2.7 billion, but the deal isn’t closed quite yet. Read More>>
Italian Architect to Bring Vertical Forests to Nanjing
Stefano Boeri Architetti is bringing the vertical forest concept popularized in Milan to Nanjing, China with the Nanjing Towers. The two green towers could provide the city with a breath of fresh air, producing around 132 pounds of oxygen every day as they absorb carbon dioxide. They’ll accomplish this air-cleaning feat with 1,100 flourishing trees from 23 local species and 2,500 cascading shrubs and plants.
The two towers at 656 feet and 354 feet tall will rise above the Nanjing Pukou District, which Stefano Boeri Architetti’s press release describes as an area that will likely lead modernization efforts in the south of China’s Jiangsu province and help develop a Yangtze River economic zone. Read More>>
Buyers Snap Up 100 of 105 Units in First Day of Sales for HK Project
The first batch of homes to go on sale in Hong Kong in the Year of the Rooster has almost sold out on day one, in an early sign that the city’s property market remains buoyant.
Buyers had snapped up 100 out of 105 units in the third round of sales at Pavilia Bay in Tsuen Wan by 4pm on Friday after they became available at 9am. Pavilia Bay is a joint project between New World Development and Vanke Property (Overseas). Read More>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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