Debt-wracked HNA Group is selling another Hilton spinoff for $1.1 billion, less than two weeks after it sold a $1.4 billion stake in Park Hotels & Resorts Inc. The mainland conglomerate is in desperate need of fresh cash as it… Read More>>
Cost of Cars and Clothes Makes Singapore the World’s Priciest City
Asia Pacific is home to four of the top ten most expensive cities in the world for expatriates and business travelers, according to a new report by The Economist Intelligence Unit (EIU).
The biannual survey by the research and advisory… Read More>>
CIC Exits 11-Year Blackstone Investment After Learning to Love Alternative Assets
Sovereign wealth fund China Investment Corporation (CIC) has exited its investment in Blackstone 11 years after taking a stake in the US alternative investment giant. During that stretch, the guardian of China’s foreign exchange reserves and the world’s biggest landlord… Read More>>
China Construction Bank Backs RMB 2B Rental Housing Fund
China Construction Bank, one of the mainland’s big four lenders, is teaming with rental housing management firm China Young Professionals Apartment Management Ltd (CYPA) to set up a new RMB 2 billion ($315 million) fund aimed at securing and developing… Read More>>
LeEco Unit Faces Friday Shut Down in Hong Kong After Missing $1.3M in Rent
Mainland media magnate Jia Yueting’s LeEco may be about to suffer another setback in its battle to climb out of a RMB 16.8 billion ($2.7 billion) debt hole, as a Hong Kong online streaming unit of the Beijing-based conglomerate is… Read More>>
Sunac Buys Out Pair of HNA Hainan Projects for $300M as Fire Sale Rages
Chinese tycoon Sun Hongbin, who bailed out Wanda Group last year, is coming to the aid of a struggling mainland developer again. HNA Infrastructure Investment Group, a listed subsidiary of embattled HNA Group, said in two separate filings to the… Read More>>
Indebted HNA Teams Up with JLL Amid Restructuring Drive
Global real estate consultancy JLL is teaming up with HNA Group to advise the conglomerate on “sound investments,” as the indebted Chinese firm looks to sell up to $6 billion in overseas real estate assets.
The strategic partnership – announced… Read More>>
Ucommune Acquires Co-Working Rival Woo Space, Boosting Valuation to $1.7B
Ucommune, the flexible office provider formerly known as UrWork, has acquired co-working rival Woo Space in the startup’s latest expansion play — boosting Ucommune’s valuation to $1.7 billion, the company announced.
China’s biggest co-working space provider informed Mingtiandi that the… Read More>>
TH Real Estate Promotes Michael Neal to CIO for Europe and APAC
TH Real Estate has promoted its Head of UK Investment, Michael Neal, to Chief Investment Officer for Europe and Asia Pacific. In the new role, the 10-year veteran of the global investment management giant is tasked with overseeing the delivery… Read More>>
HNA Group Sells Kai Tak Site to Hong Kong’s Wheelock for $811M
Cash-strapped HNA has grabbed another lifeline from a Hong Kong developer to help crawl its way out of debts estimated at $100 billion. In the latest attempt to bail out its balance sheet, the Hainan-based conglomerate agreed to sell one… Read More>>
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