Mainland builder Sino-Ocean’s debt restructuring plan wins the approval of a British court, with that story leading today’s headline roundup. Also making the list, New World scion Adrian Cheng pays a visit to France’s presidential palace and Singapore’s Tan Boon… Read More>>
Adrian Cheng Steps Down as CEO After New World Posts First Loss in Two Decades
Adrian Cheng Chi-kong has stepped down as chief executive of New World Development after the Hong Kong-based builder posted its first full-year loss in two decades.
The third generation scion of the billionaire Cheng family has also been redesignated from… Read More>>
Hong Kong’s New World Sells Stake in Shenzhen Office Tower to Cheng Family for $198M
New World Development has sold its 30 percent stake in an office tower in Shenzhen’s Nanshan district to a vehicle of the Cheng family who control the Hong Kong-based builder, as the company continues to lower its leverage.
The HKEX-listed… Read More>>
Hong Kong Scions Complete $75M Purchase of Osaka Hotels From CapitaLand Ascott Trust
A property investment firm backed by some of Hong Kong’s wealthiest families has completed its acquisition of a trio of Osaka hotels from CapitaLand Ascott Trust, with Axe Management Partners having paid JPY 10.7 billion ($75 million) for the assets.
New World’s Cheng Family Picks Number Two Son to Head Infrastructure Business
NWS Holdings, the infrastructure and construction business of New World Development and Chow Tai Fook chairman Henry Cheng, has appointed the Hong Kong tycoon’s second eldest son, Brian Cheng Chi-ming, as co-CEO as questions over succession intensify within the family’s… Read More>>
New World’s Henry Cheng Says Searching for Successor, May Opt for External Candidate
Hong Kong property and retail tycoon Henry Cheng Kar-shun says he is still looking for a successor to run the family’s business and did not rule out selecting an external candidate, throwing into question the role of his eldest son,… Read More>>
PAG’s Chris Gradel Buys Hong Kong Villa for $70M and More Asia Real Estate Headlines
In today’s roundup of regional real estate headlines, a key figure at private equity firm PAG snaps up a century-old Hong Kong villa, and Dalian Wanda denies reports that it plans to sell up to 20 malls in China. Also… Read More>>
CapitaLand India Trust to Buy Bengaluru IT Park and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Singapore-listed CapitaLand India Trust agrees to acquire a Bengaluru IT park at a future date, and data centre giant Global Switch reaches an impasse with its potential buyers.
CapitaLand India… Read More>>
R&F Flipping London’s Vauxhall Square to Adrian Cheng’s Flow Capital
Fresh from clinching a deal to buy extra time to make offshore debt payments, Guangzhou R&F Properties plans to resell a London mixed-use project just one month after exercising an option to repurchase the development from Far East Consortium.
R&F… Read More>>
HSBC Boss Says China Crisis Just Getting Started and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, the head of HSBC warns of at least two more years of pain in China’s commercial property market, Yanlord Land Group announces its subsidiary’s winning tender for the Lentor Central site in Singapore,… Read More>>