China Overseas Grand Ocean Group, one of China’s smaller listed developers, reported a 31 percent drop in net profit during the first half of 2014, and the company’s performance seems to confirm the diverging fortunes of the haves and the… Read More>>
Chinese Developer to Buy 60% of Singapore REIT IPO
The real estate billionaire behind a Shanghai shopping mall and hotel plans to buy up the majority of an upcoming Singapore REIT offering as China’s property developers continue to look for ways to invest their wealth overseas.
According to a… Read More>>
Bank Grabs Assets of Defaulting Chinese Developer
A government-owned bank in the city of Jinan has confiscated and begun selling off the assets of a delinquent local government real estate company, after successfully suing the property firm in court.
Qilu Bank Co, announced last week that it… Read More>>
China Vanke June Sales Up 44% to RMB 19.4B
Although China’s real estate market is having a rough year, China Vanke, the country’s biggest developer, just declared a 44 percent increase in contracted sales.
According to an announcement from the company on Friday, the newly Hong Kong listed real… Read More>>
New World China Privatisation Trips and Fails Over Cayman Law
New World Development’s plans to take its China subsidiary private failed this week when shareholders representing less than two-tenths of a percent of the company’s stock foiled the efforts of the company’s billionaire owner.
Although jewellry magnate Cheng Yu Tung’s… Read More>>
Ningbo Developer Acquired for RMB 950M as Market Consolidates
Shenzhen-listed developer Yinyi Real Estate (SZSE: 000981) announced this week that it plans to purchase a 70 percent stake in one of its local Ningbo competitors for as much as RMB 950 million (US$151.9 million), as Zhejiang province’s property industry… Read More>>
Mall Developer SM Raises $350M as Bond Demand Recovers
Although China’s residential real estate markets are continuing to slow this month, debt investors seem to be taking a more positive attitude as mall developer SM Investments successfully raised $350 million through a bond sale.
According to stories in the… Read More>>
Shui On Land Sells Hangzhou Project After Sales Dive 56%
Troubled real estate developer Shui On Land took a small step towards shoring up its cashflow recently when it sold its Xihu Tiandi retail development to a Hong Kong investment firm for an undisclosed sum.
According to an announcement to the… Read More>>
Soho’s Pan Alarmed Over Imminent Wreck of Real Estate Industry
Pan Shiyi, chairman of Hong Kong-listed developer Soho China, thinks that the country’s real estate industry is headed for disaster, one that he likens to a certain famous shipwreck, and he thinks the coming crash could sink the whole economy.
Greentown Chief Blames Govt as He Sells Stake in Developer
The chairman of a Hangzhou-based real estate developer blamed “stupid officials” for the hard times that have forced him to sell out his controlling stake in Greentown China to Sunac Holdings, in a transaction valued at HK$6.3 billion (US$813 million).
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