In today’s roundup of regional news headlines, Singapore’s GIC says it’s still looking to invest in China after a report said it was pausing activity in the country, while South Korea’s sovereign wealth fund reports a record yearly loss.
Co-President of China’s CFLD Detained on Unspecified Charges
China Fortune Land Development has become the latest mainland builder to suffer from an acute case of director disappearance after the former top 10 developer said it received notice that Meng Jing, a CFLD director and co-president, was detained by… Read More>>
Asia Real Estate People in the News 2022-07-04
2022 has now passed the mid-year mark and that milestone has spurred a wave of board moves this week including new leaders at Ascott Residence Trust, Redsun Properties and SF REIT. Also, seeing changes is India’s Shapoorji Pallonji Group, which… Read More>>
China’s CFLD Seeks Police Help to Locate $313M Invested With Gangster Firm
China Fortune Land Development’s disclosure on Thursday that it had entrusted $313 million in late 2018 to a wealth management firm controlled by a convicted swindler adds another chapter to the drama of one of the mainland’s most troubled real… Read More>>
CFLD Boss Buys US Mall After $14.7B in Defaults and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, the chairman of beleaguered developer China Fortune Land Development, Wang Wenxue, shakes off his firm’s debt woes with a little retail therapy, acquiring a Florida shopping mall through a private company he controls…. Read More>>
China’s CFLD Defaults on Fresh $1.2B to Bring Overdue Debts to $14.7B
A former top 10 mainland developer disclosed RMB 7.9 billion ($1.2 billion) in fresh defaults today, with China Fortune Land Development saying in a statement on its website that it was working to arrange repayment on a string of debt… Read More>>
Developer CFLD Defaults on Another $1.3B in Debt and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, heavily leveraged mainland developer CFLD announces its latest default, China’s Sincere Property throws shade on joint venture partner CDL of Singapore, and 41 parties enter the race for a Hong Kong development project.
Site on Hong Kong’s Peak Draws 5 Bids and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, a pricey piece of Hong Kong land picks up five bids at a government tender, luxury brand Prada plans to exit one of its largest Shanghai storefronts, and Singapore’s Keppel Corp assumes full… Read More>>
Jackie Chan’s Beijing Homes Put Up for Auction and More Asia Real Estate Headlines
Jackie Chan has played in more than 140 movies in his nearly 60 year film career but now the action star is starring in another real life drama as a set of apartments occupied by the actor and his family… Read More>>
CFLD Sells Beijing Project to Ping An for RMB 5.83B
Beijing-based China Fortune Land Development (CFLD) announced that it has agreed to sell a Beijing commercial project to Ping An Insurance for a consideration of RMB 5.829 billion ($830 million) as the developer shifts toward an asset light approach in… Read More>>