Leading today’s roundup, the real estate investment arm of Samsung Life Insurance has scooped up a twin-tower office complex in downtown Seoul, paying a record price per square metre for a commercial building in the city. Meanwhile in Sydney, Dalian… Read More>>
Hard Rock To Roll Out 36 China Cafes and More Asia Real Estate Headlines
Leading today’s news roundup, Hard Rock Cafe sees a craving for American burgers and Black Sabbath memorabilia in places like Chengdu, as the theme restaurant chain plans to bring its act to 36 new locations in China in 36 months…. Read More>>
Alibaba and State-Backed Partner Take $1.2B Stake in Wanda Theatre Business
Dalian Wanda Group is selling a nearly 13 percent stake in its 500 domestic movie theatres to Alibaba Group and a state-backed firm for RMB 7.8 billion ($1.24 billion), as Wang Jianlin offloads another piece of his property-to-entertainment conglomerate.
Under… Read More>>
Wanda Selling Sydney, Gold Coast Projects to Star of Aussie Political Scandal
Dalian Wanda Group has reached the next milestone in its global retreat as the Chinese investment conglomerate today confirmed the sale of its two Australian properties for the equivalent of A$1.13 billion ($913 million), including A$315 million ($255 million) in… Read More>>
Wanda To Bail on $1.5B in Australia Projects Amid Global Retreat
Dalian Wanda Group is walking away from its flagship property projects in Australia, in a deal that could exceed $1.5 billion, as the Chinese mall builder downsizes its overseas portfolio.
In an announcement last night, the group’s Hong Kong-listed unit… Read More>>
Chinese AI Firm Sets Up in Singapore and More Asia Real Estate Headlines
Leading today’s roundup of property news, a Chinese artificial intelligence firm has opened a new office in Singapore and plans to hire up to 60 researchers. Also in the headlines, Colliers is marketing a package of seven hotels across Thailand’s… Read More>>
GIC, Tishman Said Selling India Project for $314M and More Asia Real Estate Headlines
At the top of today’s pan-Asian grab bag of headlines, Singapore’s sovereign wealth fund and a leading US developer are reportedly looking to sell a joint venture office project in one of India’s tech clusters. Also in the news, Hong… Read More>>
Wanda Reports 11% Revenue Drop in 2017 as Wang Jianlin Scales Back His Empire
Dalian Wanda Group saw its revenue tumble by nearly 11 percent last year as the Chinese conglomerate retreated from its global investment and diversification drive to focus on its core property business.
The group’s operating revenues for 2017 dropped 10.8%… Read More>>
Wanda Close To Selling Aussie Projects and More Asia Real Estate Headlines
Leading the news today, Dalian Wanda Group continues to unwind its overseas property empire, with reports emerging that the Chinese conglomerate is close to selling its flagship Australian projects — and the buyer could be a controversial mainland developer. Things… Read More>>
Wanda Leaves London at a Loss, Selling One Nine Elms Site for $82M
Dalian Wanda Group continues to scale back its overseas empire, selling its flagship billion-dollar London project for £59 million ($81.5 million) just under four years after buying the site in south London’s Vauxhall area for £88.8 million.
Two units of the… Read More>>
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