De Niro to Bring Hollywood Luxury to Shanghai’s Bund – and more of Today’s China Real Estate Links | October 28, 2013

Here is a list of the day’s latest China real estate news collected from around the web:

• De Niro to Bring Hollywood Luxury to Shanghai’s Bund

  What does it indicate for Shanghai real estate when Asia’s richest man is selling assets, at the same time that Hollywood movie stars start making investments?

  Academy award winning actor Robert De Niro announced today that he and several US-based partners had recently signed a deal to develop a 78,000 square metre retail, hotel and entertainment complex currently know as Project 179 near Shanghai’s historic Bund.

• SOHO China’s transition to landlord not as smooth as hoped

  The business transformation of SOHO China, the country’s largest prime office real-estate developer, has not been as successful as the company’s outspoken chairman has claimed and the company still has a long way to go.

  Pan Shiyi has faced a tough time while transforming the company’s business model over the past year.

  According to the Chinese-language Economic Weekly, Pan was running the business on the basis of the fast and accurate principle, which propelled SOHO China to the top of Fortune magazine’s rankings as the most admired company in China between 2006 and 2009.

• Disney to Build Largest Store Ever in Shanghai

  It’s not such a small world, after all.

  The Walt Disney Co., the parent company of ABC News, will build its largest store on the planet in the Lujiazui district of Shanghai, the company announced Friday. The 53,000-square-foot retail destination will be the first to open in China and the only store in the world to include an outdoor plaza with Disney-themed landscaping.

  “We are enormously proud to be building Disney’s largest store in the world in China,” said Stanley Cheung, executive vice president and managing director at the Walt Disney Co., Greater China. “Disney has combined the retail concept with storytelling, fun and innovation, and will provide families with a uniquely immersive entertainment destination featuring our best-loved stories and characters.”

• Wanda Plaza Shifts Focus to Entertainment and Dining

  Dalian Wanda Group, a Chinese conglomerate with interests in real estate, tourism, hotels and entertainment, has adjusted its operational strategy to will cut back on its real-estate business and focus more on its retailing and cultural industry divisions.

  The group’s shopping mall operator, Wanda Plaza, has made changes due to the impact of online stores on the retail industry. A shopping center is usually divided into three parts — shopping, dining and entertainment — in a 52:18:30 ratio, known as the “golden ratio” within the industry.

• China’s industrial profit growth accelerates

  Major Chinese industrial firms saw their profits rise 13.5 percent year on year in the first three quarters, a faster pace than the 12.8-percent growth rate in the January-August period, the National Bureau of Statistics (NBS) said on Sunday.
  From January to September, industrial firms with annual revenues of more than 20 million yuan ($3.26 million) reached total profits of 4.05 trillion yuan, the NBS said in a statement.

  In September alone, profits of industrial companies surveyed grew 18.4 percent from a year ago to 558.89 billion yuan, down from the 24.2-percent growth seen in August but up from July’s 11.6 percent, the NBS data showed.

• Service sector leads Shanghai’s GDP surge

  Shanghai’s gross domestic product expanded 7.8 percent from a year earlier in the third quarter, up from the 7.6 percent increase in the second quarter and securing a stable economic performance

  In the first three quarters, Shanghai’s economy rose 7.7 percent with the output reaching 1.55 trillion yuan (US$252 billion), the Shanghai Statistics Bureau said yesterday.

  The pace was the same as the national average.

This list is updated daily, so tune in again tomorrow for more up to date information.

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