Mainland China’s developer credit crisis dominates the news again today after Shanghai-based CIFI Holdings announced that it will enter restructuring and Greenland Group said it will seek an extension on an offshore bond. Also, getting some virtual ink is a… Read More>>
Asia Real Estate People in the News 2022-10-24
More turnover at defaulting Chinese developers leads this week’s collection of regional personnel moves with Shanghai’s CIFI losing a business development leader. Also announcing changes were SGX-listed Frasers Property which named a pair of new directors to its board, and… Read More>>
Shanghai’s CIFI Defaults on Offshore Bond Despite Government Support
CIFI Holdings said on Thursday that it has failed to make payments due on offshore debts, with creditors indicating that it defaulted on a payment on a HK$2.5 billion ($318 million) convertible bond due on 8 October.
A notice… Read More>>
Evergrande Boss Said Selling London’s Priciest Mansion and More Asia Real Estate Headlines
Leading off today’s roundup of regional news headlines is China Evergrande founder Xu Jiayin, aka Hui Ka Yan, who reportedly has been unmasked as the ultimate owner of London’s most expensive house — a Knightsbridge mansion previously linked solely to… Read More>>
CIFI Holdings Confirms Trust Loan Default as Stock Drops 48%
China’s property crisis continues to spread with CIFI Holdings, a Shanghai-based developer which has received government support in securing new financing, disclosing this week that it has defaulted on an onshore trust loan.
Credit intelligence provider Reorg reported Wednesday that… Read More>>
Blackstone Said Selling Stake in Embassy REIT and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, private equity titan Blackstone is reportedly set to offload up to a $400 million stake in India’s first publicly listed REIT, Singapore’s Stamford Land sells an upscale hotel in downtown Sydney, and banking… Read More>>
APG-Wang On JV Buying Out CIFI Stake in Hong Kong Project for $170M
Financial pressure on mainland developers is creating opportunities for investors in Hong Kong’s residential sector, with Shanghai-based CIFI Holdings agreeing to sell its 60 percent stake in a Fortress Hill project with Wang On Properties to a joint venture of… Read More>>
BPEA, Angelo Gordon SG Deals Stall and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, two Singapore property deals collapse during due diligence, five private equity firms are reportedly shortlisted to bid for data centre operator Global Switch, and the State Council assigns RMB 1 trillion to boost… Read More>>
Guangzhou R&F Shares Slide After $1.3B Loss Predicted and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Guangzhou R&F’s shares plunge after the developer issues gloomy guidance, the boss of an Aussie casino operator steps down over a failure to stop malfeasance, and Shui On Land’s stock surges on sterling… Read More>>
Evergrande Bondholders Move Toward Lawsuit and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, a group of bondholders reportedly mulls legal action against Evergrande after the surprise disclosure of seized cash at the developer’s services unit, while rival Sunac China is said to be in talks to… Read More>>