A social media post linking the leukemia death of an Alibaba employee living in an allegedly formaldehyde contaminated home operated by Sequoia China and Tencent-backed Ziroom has brought a new round of pressure on the rental housing unicorn this week.
JLL Names Sumihiro Hiratsuka to Head Japan Funds Advisory Business
JLL today introduced Sumihiro Hiratsuka as its Head of Japan Global Funds Advisory, where he will be responsible for raising private capital and helping local investors to access offshore real estate opportunities, according to a statement by the international property… Read More>>
$700M Fosun Tourism IPO Offers a Stake in Money-Losing Travel Unit
Fosun Tourism, a recently spun off unit of Hong Kong-listed Fosun International filed proof of an IPO application with the Hong Kong stock exchange on Monday that revealed the latest step in what the company is said to plan as… Read More>>
Mainland Developer Announces Default on RMB 2.27B in Debt as White Knight Goes Dark
Zhonghong Holdings, the real estate developer controlled by tycoon Wang Yonghong announced last week that it had defaulted on RMB 1.1 billion ($160 million) in credit obligations in the month of July, bringing the Beijing-based company’s total past-due obligations to… Read More>>
JLL, Lendlease-Backed Accelerator Picks 5 Startups for Proptech Bootcamp
Propell Asia, a property technology accelerator program organised by JLL and Australian developer Lendlease today announced its inaugural crop of startups to participate in a 10-week incubation program.
Five early stage proptech companies were chosen from among entrants from around… Read More>>
GIC Puts 50% Stake in Sydney’s Chifley Tower on Block for $650M
Singapore’s GIC is putting 50 percent of the Chifley Tower in Sydney on the market, according to the AFR and other media accounts.
The sovereign wealth fund is said to be asking A$900 million ($650 million) to part with half… Read More>>
Evergrande Vows to Put Profit Above Scale After Building China’s Largest Land Bank
China’s Evergrande Group, the country’s second largest property developer by sales in 2017, said it would shift its development model from pursuing top line growth, to achieving efficiency and quality after it announced a record jump in profit in its… Read More>>
CapitaLand Buys Suburban HCMC Residential Site for $59M
It’s been a busy week for Southeast Asia’s biggest real estate developer, as CapitaLand today announced its VND 1.38 billion ($58.98 million) acquisition of a site in the eastern suburbs of Vietnam’s Ho Chi Minh City.
The acquisition of the… Read More>>
Greenland Hong Kong Reports 267% Jump in Core Profit
Greenland Hong Kong Holdings, the Hong Kong-listed subsidiary of China’s sixth largest developer, reported a 267 percent rise in first-half core net profits, which exclude revaluations and some one-offs. It is the fourth major Chinese property company to report strong… Read More>>
China’s Biggest Hotel Operator Leaks 500M Customer Records in Data Breach
Huazhu Hotels Group, a NASDAQ-listed hotel operator known for its chains of economy hostelries in China, including Home Inn and 7 Days Inn, was revealed by mainland network security organisation JDSEC Team as having been the victim of a hack… Read More>>
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