One of China’s ten biggest developers is joining hands with a property management firm co-founded by US private equity giant Warburg Pincus in a RMB 20 billion ($3.2 billion) bet on redevelopment of commercial properties in China, as the country’s… Read More>>
Wanda Drops Property From Company Name as Wang Moves Away From Development
Dalian Wanda Commercial Properties Co has officially changed its name to Wanda Commercial Management Group to “implement the company’s development strategy,” the firm said in a recent filing to the Shanghai Stock Exchange in accordance with bond regulations.
Wanda revealed that… Read More>>
Fuel Supplier Threatens to Cut Off Hainan Airlines as HNA Runs on Vapor
HNA’s notorious credit problems could put a sudden stop to its core business of flying airplanes if the mainland conglomerate can’t come up with a way to pay off five months of overdue fuel bills in the next 10 days.
HNA Selling $1.4B Stake in Hilton Spin-Off, Cutting 25% of Workforce
HNA Group plans to sell its $1.4 billion stake in US hotel chain Park Hotels & Resorts Inc to ease its financial crisis, according to public documents regarding the cash-strapped Chinese conglomerate. The Hainan-based airline company will sell “some or… Read More>>
HNA Grabs $3.2B Loan Lifeline From China CITIC Bank
HNA Group is said to have missed loan payments to China CITIC Bank in December, but that reported financial stumble didn’t stop the state-owned lender from handing its struggling client a new RMB 20 billion ($3.2 billion) credit facility last… Read More>>
Country Garden Led Mainland Developers in Jan with Biggest Sales Month Ever
Country Garden’s status as China’s biggest developer by sales remains intact, after announcing a record RMB 69.16 billion ($11 billion) in new contracts in January, beating out mainland rivals China Evergrande and China Vanke.
The sales volume represents a 42… Read More>>
Country Garden Gets Nod To Issue $1.6B in Rental Housing Securities
China has struck another blow in the battle for affordable housing, with the Shenzhen stock exchange giving the green light for developer Country Garden to launch RMB 10 billion ($1.6 billion) worth of asset-backed securities linked to rental apartments.
The… Read More>>
Alibaba and State-Backed Partner Take $1.2B Stake in Wanda Theatre Business
Dalian Wanda Group is selling a nearly 13 percent stake in its 500 domestic movie theatres to Alibaba Group and a state-backed firm for RMB 7.8 billion ($1.24 billion), as Wang Jianlin offloads another piece of his property-to-entertainment conglomerate.
Under… Read More>>
China Vanke Opens 2018 with RMB 68B in Sales to Notch Biggest Month Ever
From the GLP buyout to the acquisition of CapitaLand’s malls, China Vanke has been stealing the spotlight in the past few months. The Shenzhen-based developer has now grabbed headlines again by announcing RMB 67.98 billion ($10.8 billion) of sales for… Read More>>
Ascendas Said to Sell Shanghai Commercial Building for RMB 1.67 Billion
According to local media reports, a fund belonging to Singaporean property firm Ascendas is selling the Cross Tower in downtown Shanghai for approximately RMB 1.67 billion.
The buyer for the 24-storey commercial property is reported to be Hong Kong-based private… Read More>>
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