Here is a list of the day’s latest China real estate news collected from around the web:
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CBRE Group, Inc. to Provide Property Management for Shanghai Tower
CBRE Group Inc. (NYS: CBG) today announced that it has been selected by Shanghai Tower Construction & Development Co., Ltd. to provide property management consultancy services for the iconic Shanghai Tower—a 2,073-ft. (632-m.) super-tall skyscraper currently under construction in the Lujiazui district of Shanghai, China. When completed in 2015, the 6.18 million-sq.-ft. (574,000-sq.-m.) mixed-use tower will be one of the most renowned commercial properties in China and around the world. “Shanghai Tower will be one of the most prestigious properties we have ever managed, and a symbol of China’s distinguished position in the global economy,” said Brett White, Chief Executive Officer of CBRE. “We look forward to working with Chairman Kong Qing Wei and his team to establish the highest-caliber services for this world-class asset. Together, we will make Shanghai Tower one of the most desirable corporate and retail destinations in the world.”
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Chinese Developers Start Tapping Equity Markets
The fundraising window for Chinese developers is opening even more. After a series of high-yield bond issuances by developers last week which were well-received by investors, a Hong Kong-listed real estate firm Wednesday moved to tap the stockmarkets for funds. Chinese property firms have been struggling with slowing sales and tight credit in the past year, but Wednesday Longfor Properties Co. Ltd 0960.HK 0.00%. raised HK$3.09 billion ($399 million) from placing shares at a 7.9% discount to their close Tuesday.
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$47 Million Price For Beijing’s Most Expensive Luxury Villas
China may not have emperors anymore but you can certainly still live like one thanks to the country’s luxury real estate development, The ThaiHot Mansion and Courtyards. ThaiHot Mansion, overseen by The Beijing Taihe Real Estate Development Co., is considered to be the most expensive you can find in China, with the cheapest apartment available priced at $4.7 million. If you’re wondering what you get with the steep price tag, you basically get treated like a ruler as you walk on gold, black marble floors, the help bowing to you as you pass by. If you’re worried that one day the staff will decided to rise up against you, there’s even a secret bullet-proof nook between bookshelves that can keep you safe.
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Bulgari to open Shanghai hotel in 2015
Luxury brand Bulgari has confirmed an agreement with Chinese developer the OCT Group to open a new hotel in Shanghai in 2015. The property will be housed in the upper 12 floors of a 40-storey building designed by architectural firm Foster and Partners, located within the riverside complex OCT Suhe Creek in China’s historic Zhabei district, and overlooking Shanghai’s Pudong district. The hotel will offer 120 rooms and suites, including a 400 sqm Bulgari suite, and will feature a mixture of contemporary and traditional Chinese architectural themes.
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Equinix Adds New Shanghai Data Center
Equinix, Inc. (NASDAQ:EQIX), the global interconnection and data center company, today announced the launch of its newest data center in Shanghai (SH5) to address the strong demand for premium data center services in China from global customers looking to expand in the market. The launch further strengthens Equinix’s footprint in Asia-Pacific and demonstrates its long-term commitment to data center development in China. Following the $230.5 million acquisition of Asia Tone in July 2012, Equinix gained a total of six data centers and one disaster recovery center located across Hong Kong, Shanghai and Singapore, including SH5.
This list is updated daily, so tune in again tomorrow for more up to date information, or subscribe to our daily email news digest to get this delivered to your mailbox.
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