China real estate developer Guangzhou Evergrande was singled out by credit agency Fitch Ratings this month for its high levels of leverage and aggressive sales forecast, as lenders begin to look more closely at the risks facing Chinese property companies.
Mingtiandi Catching Up
For those of you who are regular readers of this site, you might have noticed that Mingtiandi itself became a bit less regular last week.
In the past several days the Mingtiandi team had two major projects due with 24… Read More>>
Founder Scandal Reveals Central Beijing Site Bought for $13 a Sqm
An ongoing scandal involving two powerful Chinese companies has already led to several detentions related to corruption charges, and this week it revealed how one of Beijing’s most prime locations was acquired for just RMB860 per square metre ($12.90 per… Read More>>
HK’s Link REIT Buys Beijing Mall for RMB2.5B
Hong Kong’s Link REIT has acquired a Beijing shopping mall for RMB2.5 billion (US$403 million) in the first mainland acquisition by Asia’s largest real estate investment trust.
Link REIT announced the deal to purchase the 74,000 square metre (800,000 square… Read More>>
Fosun Said Shortlisting 50 Hotels in Global Investment Drive
Fosun Group has drawn up a shortlist of 50 hotels for acquisition globally as the Chinese investment house plans to invest more than $500 million on hospitality sector assets.
The Shanghai-based conglomerate’s plans for the tourism industry were revealed at… Read More>>
Country Garden Restarts Work on Scaled Back $121B Malaysian Project
Chinese developer Country Garden is restarting work on a scaled back version of a residential real estate project in southern Malaysia’s Johor state after complaints from local citizens and the Singapore government.
Country Garden’s Forest City development was originally planned… Read More>>
Why the New York Times is Wrong About Evergrande’s $16B “Lifeline”
International media from Bloomberg to the New York Times carried headlines today declaring that Evergrande Real Estate, a Guangzhou-based developer noted for its aggressively leveraged balance sheet, had just received 100 billion yuan ($16 billion) in new credit to prop… Read More>>
China Housing Prices Fall at Record Pace in February
After showing signs of stabilising in December, China’s housing prices fell by an average of nearly 5.5 percent in February, compared to the same month a year ago. The faster fall in home prices came as China’s spring festival holiday… Read More>>
Shanghai’s Fosun Said to Pursue Cushman & Wakefield
Shanghai-based investment group Fosun is considering an offer for property consultancy Cushman & Wakefield, which was put up for sale by Italy’s Agnelli family in February.
The current owners are asking $2 billion for the world’s third-largest real estate services… Read More>>
Leading Yunnan Official Detained Over Dodgy Real Estate Deals
The second ranked official from southwestern China’s Yunnan province headed to Beijing for the annual meeting of China’s legislature earlier this month, but failed to return home with the rest of his delegation after being detained over what are said… Read More>>
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