HNA Group defaulted on a RMB 300 million ($43.82 million) principal of a loan on September 10, Hunan Trust announced on its website. The financial failure is the latest blow for the indebted conglomerate, which sold more than $17 billion… Read More>>
Allianz, Alpha Buy Shanghai Office Building From CITIC for $90M
Allianz announced today that it has partnered with Alpha Asia Macro Trends Fund III (“AAMTF III”), a private equity investment fund managed by Singapore’s Alpha Investment Partners, and an unnamed co-investor to acquire an office park property in northern Shanghai.
Carlyle Real Estate Unit to Fly Solo in China – Exclusive
Private equity investments work differently in China, and the Carlyle Group is preparing to spin off its China real estate unit into a separate entity to fit the requirements of the mainland market, according to sources familiar with the company’s… Read More>>
Wanda Said Talking Sale of Stake in AMC With Apollo, Silver Lake
China’s property-to-entertainment conglomerate Dalian Wanda Group is looking to raise money by potentially selling off part of its stake in AMC Entertainment Holdings, the world’s largest cinema operator, Reuters reported, citing an unnamed insider.
Wanda is said to be exploring… Read More>>
Cancer Death of Ziroom Tenant Raises Talk of Risk in China’s Rental Housing Rush
A social media post linking the leukemia death of an Alibaba employee living in an allegedly-formaldehyde contaminated home operated by Sequoia China and Tencent-backed Ziroom has brought a new round of pressure on the rental housing unicorn this week.
The… Read More>>
Mainland Developer Announces Default on RMB 2.27B in Debt as White Knight Goes Dark
Zhonghong Holdings, the real estate developer controlled by tycoon Wang Yonghong announced last week that it had defaulted on RMB 1.1 billion ($160 million) in credit obligations in the month of July, bringing the Beijing-based company’s total past-due obligations to… Read More>>
China’s Biggest Hotel Operator Leaks 500M Customer Records in Data Breach
Huazhu Hotels Group, a NASDAQ-listed hotel operator known for its chains of economy hostelries in China, including Home Inn and 7 Days Inn, was revealed by mainland network security organisation JDSEC Team as having been the victim of a hack… Read More>>
CapitaLand Appoints Lee Chee Koon as Group CEO in Accelerated Succession
CapitaLand has named 43-year-old Lee Chee Koon, the current group chief investment officer, as president and group chief executive officer of Southeast Asia’s largest real estate developer, according to an announcement dated 28 August and posted to the company’s website.
$100B Country Garden Malaysia Project in Doubt on Mahathir Warning
Country Garden’s massive 14-square-kilometre, $100 billion Forest City (森林城市) project in Johor, Malaysia may not be completed as planned following comments by Malaysian Prime Minister Mahathir Mohamad suggesting that foreigners will not be permitted to live in the new city…. Read More>>
GIC Buys Stake in Mumbai Four Seasons Developer for Reported $143M
GIC is acquiring a minority stake in Provenance Land, the developer of India’s first Four Seasons hotel, according to a statement on August 22nd by the Singaporean sovereign wealth fund.
Sources familiar with the deal, as cited in India’s Economic… Read More>>
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