In today’s roundup of regional news headlines, Hong Kong’s sagging home prices stabilised in March as the latest COVID wave ebbed, beleaguered mainland developer China Evergrande plans a sales blitz for the long May Day holiday, and Singapore industrial rents… Read More>>
Blackstone-Backed Chinese Data Centre Operator VNET Gets Unsolicited Buyout Offer
China’s VNET Group has received an unsolicited offer from two mainland companies to acquire all of the outstanding ordinary shares of the Blackstone-backed data centre developer, whose beaten-down stock exemplifies the recent woes of US-listed Chinese tech firms.
Investment manager… Read More>>
Sunac China Asks to Extend Payment of $629M Bond and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Sunac China seeks an 18-month extension to redeem an onshore bond, as the developer and five rivals face an indefinite trading suspension on the Hong Kong stock exchange. In Singapore, meanwhile, an ultra-luxury… Read More>>
Fosun Buying Back 50% Stake in Shanghai Bund Complex for $1B
Mainland investment giant Fosun International has agreed to repurchase a 50 percent stake in its Bund Finance Center for RMB 6.34 billion ($1 billion), nearly six years after offloading the half-interest in the Shanghai waterfront complex.
Upon closing, Fosun will… Read More>>
China Could Become World’s Largest Rental Housing Market: MTD TV
Mainland China’s rental residential market could grow into one of the largest globally as rising housing prices and a thriving professional class transform housing choices in Asia’s largest economy, industry leaders said in a panel discussion as part of Mingtiandi’s… Read More>>
Shui On’s Xintiandi IPO Fails as Developer Shares Slump on the HKEX
The long-awaited listing of Shui On Land’s Xintiandi unit has faltered at the final hurdle, with the Shanghai-based developer scrapping — for now — the Hong Kong IPO of an ownership vehicle for the group’s mainland commercial properties.
The application… Read More>>
Swire JV Buys Xi’an Taikoo Li Site for $407M as Mainland Portfolio Expands
Hong Kong’s Swire Properties this month announced a fourth addition to its Taikoo Li commercial projects on the mainland, having formed a joint venture to acquire a high-end retail site in the second-tier city of Xi’an through a government land… Read More>>
Soho China Touts 30% Discounts on Slices of Beijing, Shanghai Projects
Soho China is selling 32,000 square metres (344,445 square feet) of what it calls “high-quality properties” in Beijing and Shanghai at a 30 percent discount, as the developer looks to shore up its financial position after a planned takeover by… Read More>>
GIC-Backed ESR Fund Buys $692M Greater Shanghai Industrial Portfolio From DLJ
Warehouse giant ESR has acquired what it describes as the largest-ever portfolio of logistics and industrial assets to be transacted in Greater Shanghai.
The Hong Kong-listed firm bought the 11-asset portfolio for an undisclosed amount in partnership with a “leading… Read More>>
Blackstone Names Justin Wai Head of Greater China Real Estate
Private equity giant Blackstone has promoted its Hong Kong-based managing director Justin Wai to head of real estate for Greater China, giving the world’s largest real estate fund manager new leadership in Asia’s biggest economy after the departure of Tim… Read More>>
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