Vietnamese developer leads today’s collection of real estate headlines as the family behind Novaland sells down its controlling stake to keep the company afloat. Also in the news, China’s central bank replaces its second deputy governor this month and Korean… Read More>>
Manulife Wins Approval for Recapitalisation Plan and More Asia Real Estate Headlines
One of Singapore’s most troubled REITs leads today’s collection of real estate headlines from around Asia as investors swallow terms for a bailout of Manulife US REIT. Also in the news, Country Garden avoids its first domestic bond default and… Read More>>
Wanda Mall Unit Downgraded by Fitch, Moody’s After Asking to Extend $600M Bond
Two of the three major credit ratings agencies have downgraded units of China’s Dalian Wanda Group after it asked holders of a $600 million bond to wait an extra year for repayment.
Fitch Ratings on Wednesday downgraded the key businesses… Read More>>
CalSTRS Slashes China Exposure and More Asia Real Estate Headlines
The ongoing redistribution of western investment in Asian markets leads today’s set of real estate headlines from around the region as one of America’s largest pension funds provides its latest portfolio update. Also making the list, Li Ka-shing’s CK Asset… Read More>>
Mainland Regulators Query Wanda Group Over Hong Kong IPO Application
Chinese regulators have asked Dalian Wanda Commercial Management to provide additional details on its application for a Hong Kong initial public offering, fuelling worries over the ability of the country’s largest commercial developer to meet its listing deadline this year.
GIC Completes Hyderabad Tech Park Buy and More Asia Real Estate Headlines
In today’s roundup of regional headlines, Singapore’s GIC completes its acquisition of a Hyderabad office complex, and Chinese state-owned builder Greenland readies its virtual asset trading platform in Hong Kong. Also in the news, Fitch plans to pull its rating… Read More>>
GIC Makes $122M Exit From Mumbai Mall Venture and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Singapore’s GIC sells its half-stake in a Mumbai mall, and Fitch puts industrial giant GLP on a negative ratings watch. Also happening in India, Blackstone’s Nexus Select Trust IPO was oversubscribed on the… Read More>>
Alibaba-Backed Red Star Macalline Being Bought Out by Xiamen SOE
A Chinese state-controlled conglomerate has agreed to buy what could be a controlling stake in Red Star Macalline Group Corporation, an Alibaba-backed home improvement mall chain, as government firms continue to bail out China’s flailing private real estate sector.
Shanghai-listed… Read More>>
Cash-Strapped Kaisa Group Sued for $102M Over Unpaid Debt
A Hong Kong investment firm is suing mainland builder Kaisa Group Holdings to recover $102.3 million in unpaid principal and interest, in another blow to the severely indebted developer as China’s real estate crisis drags on.
Oasis Capital Management filed… Read More>>
Alibaba-Backed Red Star Macalline in Talks to Sell Controlling Stake to Xiamen SOE
Less than four months after having its credit rating withdrawn by Fitch Ratings, Alibaba-backed home furnishing mall operator Red Star Macalline Group Corporation is in talks to sell what could be a controlling stake in the company to Chinese state-controlled… Read More>>