The board of Joy City Property on Thursday proposed a HK$2.93 billion ($370 million) buyback of the mainland commercial developer’s shares as part of a plan to take the Hong Kong-listed company private.
Joy City would be wholly owned by… Read More>>
GIC, COFCO Said Piloting Mainland REIT and More Asia Real Estate Headlines
The launch of India’s first REIT last month may have served as a wake up call for Chinese regulators, who have been millimetring toward listed property trusts for more than a decade, but now seem ready to launch a pilot… Read More>>
COFCO Property Wins Approval To Buy Back Joy City for $2.15B
COFCO Property has been given a green light by the China Securities Regulatory Commission (CSRC) to buy back a controlling 64.18 percent stake in Hong Kong-listed commercial real estate developer Joy City Property for RMB 14.76 billion ($2.15 billion), re-integrating… Read More>>
Benoy to Design COFCO’s 300,000 SQM Suzhou Complex
Architecture firm Benoy has won an international competition to design a 300,000 square metre, mixed-use project in the eastern Chinese city of Suzhou for one of China’s biggest developers, the UK-based company announced today.
The project, COFCO Joy Breeze, integrates… Read More>>
COFCO Property Merger Bringing HK-Listed Joy City Back to Mainland Exchange
China’s COFCO Group is merging a pair of real estate developers with a combined market cap of $4.7 billion dollars as the state-owned conglomerate follows through on restructuring plans related to state-owned enterprise reform and cross-border transactions first announced in… Read More>>
New World’s K11 Invests $10M in AI Startup and More Asia Real Estate Headlines
Tales of China retail lead today’s news as one of Hong Kong’s biggest developers invests $10 million into an artificial intelligence startup, while a Beijing mall converts a whole floor into co-working space. A key cog in China’s Belt-and-Road initiative… Read More>>
Joy City Scores 49% Return By Flipping Hong Kong Office Floor for $77M
Mainland investors may have a keen appetite for Hong Kong office property, but one company from north of the border is taking advantage of ever-loftier values by offloading a prized piece of real estate in the city’s Central district. Shopping… Read More>>
Joy City Sells Stake in 6 Mainland Projects to GIC and China Life for $1.4B
Mainland commercial developer Joy City has agreed to sell a 49 percent stake in six mixed-use projects in China to an investment fund to be controlled by Singapore’s GIC and mainland insurer China Life for RMB 9.29 billion ($1.4 billion).
COFCO Property Beats Out 20 Rivals to Pay $368M for Suburban Shanghai Site
The rush for land in China’s first-tier cities continues as Beijing-based COFCO Property Investment last week agreed to pay RMB 2.44 billion ($368 million) for a plot of residential land in Shanghai’s Pudong district. The price paid by the state-run… Read More>>
China State-Owned Giant COFCO Bids for Dutch Food Firm
Cofco submitted a binding bid for the stake last month, a person familiar with the transaction said. The stake is worth around US$250 million, but it wasn’t immediately clear how much Cofco will pay.
COFCO, formally China National Cereals, Oils and Foodstuffs Corporation, is China’s largest food processing, manufacturer and trader.