Less than three months after revealing that it had defaulted on more than RMB 1.1 billion ($174 million) in debts, beleaguered Chinese real estate developer Zhonghong Holdings is struggling to explain a deal with Shenzhen-based Kaisa Group that could bring… Read More>>
Country Garden Denies Bribing Politicians to Help Secure Sydney Area Sites
Australia’s real estate market has been scorching in recent years with brokers struggling to supply an adequate pipeline of sites to both local developers and a growing cast of mainland players hungry to build more homes in Sydney, Melbourne and… Read More>>
Lai Sun Wins Approval to Build City of London’s Third-Tallest Tower
Hong Kong’s Lai Sun Group has won approval to develop a 56-storey office tower on London’s Leadenhall Street, after tycoon Peter Lam’s textiles-to-property group had purchased a pair of existing properties on the same block as London’s Gherkin office tower… Read More>>
KPMG Said Taking Up to 10 Floors in Swire’s South Island Place
International accounting firm KPMG is said to have signed up for 150,000 square feet (14,000 square metres) of space at South Island Place, an upcoming office project under development in Hong Kong’s Wong Chuk Hang area.
The lease, which would… Read More>>
Chelsfield Said in Due Diligence for S$550M Buy of SG’s Manulife Centre From Alpha and CDL
In what would be its first Singapore deal, UK property developer Chelsfield is said to be closing in on an acquisition of the Manulife Centre on Singapore’s Bras Basah Road in the latest sign of ongoing growth in the city-state’s… Read More>>
CPPIB Joins China Rental Housing Rush in $817M Deal With Longfor
Canada Pension Plan Investment Board has struck yet another deal with its favorite mainland developer, Longfor Group Holdings, as the Canadian pension fund manager and the Beijing-based builder today announced an agreement to jointly invest at least $817 million in… Read More>>
Ping An Ups CFLD Stake to 20% for $2B as Developers Scramble for Cash
A unit of Chinese financial giant Ping An is acquiring almost a fifth of China Fortune Land Development (CFLD) in the group’s third major acquisition of a stake in a top publicly listed developer in the last three years.
The RMB… Read More>>
Moody’s Sees Further Fallout After Mainland Developer Slips into RMB 1B Default
Credit ratings agency Moody’s Investors Service this week has downgraded its outlook for Hong Kong-listed developer Wuzhou International Holdings Limited as it predicted that the Jiangsu-based industrial specialist would default on $300 million in offshore bonds.
The downgrade comes after… Read More>>
Allianz Buys $196M Beijing Asset From Goldman and Kailong in Drive for $1.1B China Portfolio
Allianz has acquired its first Beijing office building as the German financial giant works to substantially boost its China holdings.
The company’s real estate investment division, Allianz Real Estate, purchased ZLink, a business park complex in the city’s Zhongguancun high… Read More>>
Henderson, Lai Sun Said to Sell Tsim Sha Tsui Tower for HK$4.1B
Hong Kong developers Henderson Land and Lai Sun have reached an agreement to sell 8 Observatory Road, a vertical retail building in Hong Kong’s Tsim Sha Tsui area for HK$4.1 billion ($522 million), according to market sources who spoke with… Read More>>
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