As asset management giant BlackRock ramps up its activities in China, the US-based firm has appointed real estate investment veteran Connie Peng as Head of BlackRock Real Estate for the country, according to sources familiar with the company’s management who… Read More>>
Fuel Supplier Threatens to Cut Off Hainan Airlines as HNA Runs on Vapor
HNA’s notorious credit problems could put a sudden stop to its core business of flying airplanes if the mainland conglomerate can’t come up with a way to pay off five months of overdue fuel bills in the next 10 days.
HNA Selling $1.4B Stake in Hilton Spin-Off, Cutting 25% of Workforce
HNA Group plans to sell its $1.4 billion stake in US hotel chain Park Hotels & Resorts Inc to ease its financial crisis, according to public documents regarding the cash-strapped Chinese conglomerate. The Hainan-based airline company will sell “some or… Read More>>
Center Buyer Said Selling Stake in $5.2B HK Office Tower to Hui Wing Mau, Pollyanna Chu
As China’s biggest investors were warned off from overseas deals last year and a crackdown on outbound cash killed off cross-border real estate acquisition, Hong Kong still seemed a safe-haven for mainland money. But nothing changes faster in 2018 than… Read More>>
Shanghai Awards Site for $8B Pudong Commercial Complex to SOE Duo for $2.2B
Shanghai’s government has awarded a deal for a RMB 50 billion ($7.9 billion) commercial complex — bigger than New York’s Grand Central Terminal — to a consortium of local state-run firms as the city prepares for yet another commercial hub… Read More>>
China’s CIRC Follows Anbang Takeover with Ping An Punishment in Outbound Investment Crackdown
Chinese insurers’ $15 billion overseas real estate shopping spree may go on the endangered list, as the country’s insurance regulator reprimanded three major insurers for illicit cross-border investments Saturday. The move is part of the regulator’s efforts in reining in… Read More>>
Greenland Group Puts LA Condo Tower on the Block for $450M in US Pullback
The purchase of the $1 billion Metropolis project by China’s Greenland Group in 2013 was one of the early milestones in an outbound real estate investment wave that put the Shanghai-based developer onto a global stage, beside co-stars such as… Read More>>
Chinese Government Seizes Control of Anbang as Boss Charged with Fraud
The Chinese government now has direct control of the Waldorf Astoria hotel in New York, as the country’s insurance regulator formally takes over the hotel’s embattled owner, Beijing-based Anbang Insurance Group.
Anbang, which had scooped up the famed Manhattan property… Read More>>
Hanison Sells 50% Stake in Kowloon Office Tower for $102M – Buyer Said to Be PAG
Nine months after attempting to sell off a Cheung Sha Wan building by public tender, Hanison Construction surprised the market with the HK$800 million ($102 million) sale of a 50 percent stake in the PeakCastle commercial building in Hong Kong.
HNA Pledges HK$3B Stake in Kai Tak Developer to PAG in Return for Loan
What was once the site of one of Asia’s most challenging airports is rapidly turning into a lifesaver for China’s debt-addled HNA Group after the mainland conglomerate announced a deal yesterday that could provide it with a loan of as… Read More>>
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