Hainan Airlines, the flagship carrier of HNA Group, will take over the group’s hotel business as part of an asset restructuring by the troubled Chinese conglomerate. Hainan Airlines announced in a filing to the Shanghai Stock Exchange that it would… Read More>>
Deutsche AM Sells Dalian Office Tower to China Life
Deutsche Asset Management has sold Xiwang Tower, a grade A office building in the northeastern Chinese city of Dalian, to mainland financial services giant China Life. The asset management arm of Deutsche Bank disposed of the 40-storey, grade A tower… Read More>>
Naked Group Hires Gaw Veteran to Build Real Estate Fund Management Biz – Exclusive
Premium co-working and resort operator naked Group is venturing into the fund management business by hiring a Gaw Capital veteran to head up a new investment team, the Shanghai-based start-up has revealed to Mingtiandi.
Jennifer Zhang has joined the firm… Read More>>
Warburg Pincus-Backed Nova Teams with Sunac for $3B Mainland Redevelopment Fund
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>>