Tag: daily-sp

  • HK Commercial Deals Fell 51% in Sept – Turning Up Pressure on Speculators

    HK Commercial Deals Fell 51% in Sept – Turning Up Pressure on Speculators

    Hong Kong’s housing market made headlines earlier this month when home prices fell for the first time in nearly two and a half years, after an unprecedented bull run. Now data is emerging to show that the trend in the city’s commercial market may be taking an even sharper turn as the value of transactions…

  • Lei Jun-Backed Rental Housing Operator Yujian Can’t Pay Landlords, Warned by Bank

    Lei Jun-Backed Rental Housing Operator Yujian Can’t Pay Landlords, Warned by Bank

    China’s long-term rental housing market hits the headlines again a Yujian Apartment, a startup backed by Xiaomi founder Lei Jun this week received debt payment notices from a major bank, and is said to owe back rent to its landlords. The Shanghai-based firm’s financial fail comes despite it having received venture funding from the Xiaomi…

  • Gaw Capital Said to Invest in HK$15B Office Deal in Quarry Bay

    Gaw Capital Said to Invest in HK$15B Office Deal in Quarry Bay

    Four months after buying a pair of Hong Kong office buildings from Swire Properties for HK$15 billion ($2 billion), a privately held affiliate of mainland investor Chen Chang Wei’s Hengli Group has reportedly recruited Gaw Capital Partners to take as much as a 65 percent stake in Cityplaza Three and Cityplaza Four in Quarry Bay.…

  • China Life Teams With China Resources Land for RMB 15B Shanghai Fund

    China Life Teams With China Resources Land for RMB 15B Shanghai Fund

    Chinese government-backed China Resources Land announced to the Hong Kong Exchange on Friday that it has teamed up with Shanghai Land and China Life Insurance to launch an RMB 15 billion ($2.7 billion) real estate investment fund. The information was confirmed by China Life on Monday on its WeChat official account. The mainland’s 11th largest…

  • HK Govt Cancels $4.1B Peak Land Sale as Developers Lowball Luxury Site

    HK Govt Cancels $4.1B Peak Land Sale as Developers Lowball Luxury Site

    The Hong Kong government on Tuesday cancelled a land sale for the first time since January 2016, as it withdrew a luxury site near Victoria Peak which it had hoped would bring bids as high as HK$32.3 billion ($4.1 billion). According to government documents, the Lands Department withdrew the sale because “the tendered premiums did…

  • HNA Cancels RMB 1.3B Sale of Beijing Office Building to Vanke

    HNA Cancels RMB 1.3B Sale of Beijing Office Building to Vanke

    Financially troubled HNA Group on Tuesday announced to the Shanghai Exchange that its shareholders have rejected a RMB 1.3 billion ($190 million) deal to sell a Beijing office tower to China Vanke, which the two companies had agreed to in late September. The Hainan-based aviation and real estate giant reported to the exchange that its…

  • Mainland Developer Hopson Buys a Floor in The Center for HK$1.1B

    Mainland Developer Hopson Buys a Floor in The Center for HK$1.1B

    Hong Kong-listed builder Hopson Development announced last week that it has become the latest mainland buyer of a floor in the Center, a premium office property located in Hong Kong’s Central business district. The Guangdong-based builder is paying approximately HK$1.1 billion to buy the 25,695 square foot (2,400 square metre) property from a company held by…

  • WeWork Opens in Kowloon East With Plans for 18 HK Centres

    WeWork Opens in Kowloon East With Plans for 18 HK Centres

    WeWork is planning to triple its number of locations in Hong Kong to at least 18 within the next two years, Alan Ai, general manager of WeWork Greater China, said at the opening ceremony of the flexible office provider’s first centre in the city’s Kowloon area on Friday. The event marked the debut of the…

  • HNA Adds Nine Overseas Properties to Fire Sale

    HNA Adds Nine Overseas Properties to Fire Sale

    Just days after stories emerged of China’s HNA Group putting some 82 properties on the market, a list of nine overseas properties being offered for sale by the defaulting conglomerate has been obtained by mainland news website, thepaper.cn. HNA’s latest fire sale includes five grade A office projects in London and New York, among them…

  • Overseas Chinese Town Buys Pair of Shenzhen Sites for RMB 4.2B

    Overseas Chinese Town Buys Pair of Shenzhen Sites for RMB 4.2B

    Hong Kong and Shenzhen-listed real estate developer Overseas Chinese Town Holding has purchased a pair of mixed-use sites in the centre of Shenzhen’s Bao’an district for RMB 4.2 billion ($605 million) at a government land auction on October 10th, according to official announcements. The two pieces of land in the Guangdong province mega-city, total 19,465…