In today’s roundup of regional news headlines, a report says resale transactions of Singapore condo units tumbled for a third month in a row as viewings slowed, and Hong Kong’s home price downturn puts more owners in a negative equity… Read More>>
Wanda Led China’s Commercial Developers Again in 2022 with 7% Growth
China’s top commercial developers saw their operating income rise more than 5 percent in 2022, with Dalian Wanda Group’s mall-building business once again dominating the pack, as the mainland’s housing market crisis and sluggish economy left the country’s largest commercial… Read More>>
China Home Prices Fell Again in November and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China’s home price slump shows no signs of a turnaround, R&F co-founder Zhang Li fights extradition to the US, and global investors bid for ownership of a Hyderabad office complex.
Guangzhou R&F Co-Chairman Arrested on Kickback Charges in UK, Held on $18M Bail
Guangzhou R&F Properties co-chairman Zhang Li has been arrested in London on suspicion of paying kickbacks in return for permits for a development project in San Francisco.
Reuters reported Tuesday that Zhang, who co-founded and also serves as chief executive… Read More>>
Guangzhou R&F Sells Shanghai Office Block to Jinko Solar for $99M
Guangzhou R&F Properties took another step toward selling down its portfolio of assets, with solar panel manufacturer Jinko Solar Co Ltd on Tuesday having purchased a business park property in western Shanghai from the troubled mainland developer.
Tower 3, which… Read More>>
R&F Flipping London’s Vauxhall Square to Adrian Cheng’s Flow Capital
Fresh from clinching a deal to buy extra time to make offshore debt payments, Guangzhou R&F Properties plans to resell a London mixed-use project just one month after exercising an option to repurchase the development from Far East Consortium.
R&F… Read More>>
Brookfield Buys Shanghai Rental Housing Project From R&F, KWG for $180M
Brookfield has leveraged the potential of China’s rental housing market and the financial distress of some of the country’s largest developers to acquire a serviced apartment project in Shanghai’s Yangpu District for RMB 1.26 billion ($180 million) as the first… Read More>>
R&F Selling Wanda Realm Beijing Hotel at a Loss
Guangzhou R&F Properties has renewed its efforts to sell off assets and pay down its liabilities as the mainland developer last week agreed to sell its Wanda Realm Beijing hotel to a unit of Beijing Pengrui Real Estate for RMB… Read More>>
R&F Buying Back London Project From Far East Consortium at 11% Markup
Guangzhou R&F Properties said Friday it is repurchasing the Vauxhall Square mixed-use project in south London from Hong Kong-based Far East Consortium. The buyback comes five months after the developer sold the undeveloped site at a 42 percent discount in… Read More>>
Guangzhou R&F Swings To $1B Loss In H1, Asset Sales To Continue
Guangzhou R&F Properties swung to a net loss of RMB 6.9 billion ($1 billion) in the first half of 2022 from the RMB 3.2 billion net profit it booked in the same period a year ago, adding to the challenges… Read More>>
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