In today’s roundup of regional news headlines, Joseph Lau’s Chinese Estates suffers a full-year loss tied to its Evergrande investments, a Singapore condo complex goes back on the market following Hong Kong developer Shun Tak’s exit from the deal, and… Read More>>
Hong Kong Real Estate Tycoons Dominate Forbes Top 10 in 2021
Six property multibillionaires among the richest Hong Kongers remain unfazed by pandemic headwinds, with their $142.2 billion in cumulative wealth accounting for as much as 72 percent of the total fortunes of the city’s top 10, according to Forbes’ latest… Read More>>
Shimao Shares Spike 20% on Asset Sale Report and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Shimao’s shares jump on reports that the troubled developer is selling all of its projects, the chairman of one of China’s biggest insurers is under investigation for corruption, and Joseph Lau’s Chinese Estates… Read More>>
Shimao Downgraded by Fitch, Moody’s and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Shimao is the latest mainland developer to be hit with downgrades by key ratings agencies, shareholders baulk at Joseph Lau’s privatisation offer for Chinese Estates, and Singapore’s CDL acquires a residential development site… 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>>
Billionaire Joseph Lau and Family Bid to Take Chinese Estates Private for $245M
Property tycoon Joseph Lau plans to take his Hong Kong-listed Chinese Estates Holdings private, looking to salvage what remains of the loss-making, largely inactive firm after its ill-fated investment in fellow developer China Evergrande Group.
A company owned by Lau’s… Read More>>
Longtime Evergrande Backer Chinese Estates Dumps Shares at Loss, Eyes Full Exit
China Evergrande Group received a fresh gut-punch from a steadfast investor on Thursday, with Hong Kong property firm Chinese Estates revealing that it had dumped 13 percent of its shareholding in the embattled developer at an eye-watering loss and was… Read More>>
Chinese Estates’ Lau Sells Down Evergrande Stake and More Asia Real Estate Headlines
An Evergrande avalanche leads today’s roundup of regional news headlines, as two staunch allies of the embattled developer’s chairman trim their stakes in the group, while Evergrande staff and customers are reportedly offered the chance to bid on discounted properties… Read More>>
Hong Kong Developer Chinese Estates Promotes Joseph Lau’s Wife, Chan Hoi-wan, to CEO
The long-running succession saga at Hong Kong billionaire Joseph Lau’s business empire began a new chapter this week with the elevation of Lau’s wife, Chan Hoi-wan, to CEO of Chinese Estates Holdings to replace her elder sister, Chan Sze-wan.
In… Read More>>
Fosun Said Making £750M Bid for UK’s Thomas Cook and More Asia Real Estate Headlines
Shares in Fosun’s money losing tourism unit have been on the slide since their Hong Kong IPO in December, and now mainland investment guru Guo Guangchang leads Mingtiandi’s roundup of real estate headlines with the news that he is set… Read More>>