Mainland electronics conglomerate Realord Group Holdings has made a voluntary conditional cash offer to buy out Hong Kong’s Sincere Group in a deal that values the city’s oldest Chinese-owned department store group at HK$500 million ($65 million), according to a… Read More>>
Suning Buys 37 Wanda Department Stores for Under RMB 8B
Dalian Wanda has sold 37 department stores to Chinese retailer Suning.com for an amount estimated to be less than RMB 8 billion ($1.18 billion) as China’s largest commercial developer continues a two-year sell off of overseas and non-core assets after… Read More>>
Henderson Land Buys Four HK Department Stores from FamilyMart Uny for HK$300M
A retail unit of blue-chip developer Henderson Land is acquiring Japanese retailer FamilyMart Uny Holdings Co’s operations in Hong Kong for HK$300 million ($38 million), expanding Henderson’s department store business to Hong Kong Island and Kowloon.
The Henderson subsidiary, Urban… Read More>>
Sanpower Selling House of Fraser After Launching Just Two Stores in Four Years
China’s Sanpower Group is poised to sell a majority stake in troubled UK retailer House of Fraser, less than four years after the Nanjing-based conglomerate bought an 89 percent interest in the department store chain.
Sanpower subsidiary Nanjing Cenbest (Nanjing… Read More>>
Parkson Down to Last Beijing Location as Department Stores Disappear
Malaysia-based Parkson was a pioneer foreign investor in China’s retail scene, opening its first mainland department store in 1994. Now that location, on Beijing’s Fuxingmen Rd, is the brand’s last remaining outlet in China’s capital as Parkson shutters department stores… Read More>>
Dalian Wanda to Close 120 Venues as Retail Business Struggles
Dalian Wanda, the commercial real estate developer controlled by Chinese billionaire Wang Jianlin, is planning to close 40 of its department stores and 80 other venues as the company shifts its focus to new business areas such as ecommerce and… Read More>>
Dalian Wanda to Close 10 Dept Stores – Restructure 20 More
The balance of power in China’s retail world continued to shift away from one-size-fits all shops this week when Dalian Wanda announced plans to shutter 10 department stores nationwide, and restructure another 20.
The decision by the China retail real… Read More>>
Parkson Closes Beijing Shop as Department Stores Stagger
Parkson Retail Group has temporarily closed one of its Beijing stores following reports of dropping sales and after it permanently closed two stores in other Chinese cities.
Sam Au, chief financial officer of Parkson Retail Group, told the local press… Read More>>
Grand Ocean Department Store Chain Is Expected To List On June 6 – and more of Today’s China Real Estate Links | May 28, 2012
Here is a list of the day’s latest China real estate news collected from around the web:
Grand Ocean Retail… Read More>>