The highly touted Wuhan Wanda Movie Park, owned by China’s largest real estate company, the Dalian Wanda Group, has closed for “upgrades and renovation” just 19 months after the grand opening of the RMB 7 billion ($1.05 billion) attraction. The… Read More>>
SOHO China Sells Pudong Project to Mainland Insurer for RMB 3.2B
SOHO China, the Beijing-based real estate developer controlled by celebrity entrepreneurs Zhang Xin and Pan Shiyi, confirmed on Friday that it has sold a commercial building in Shanghai’s Pudong district to a mainland insurer for RMB 3.2 billion ($485 million).
Canada Slaps Tax of Up to 20% on Foreigners Buying Vancouver Homes
Canadian authorities have slapped a tax of up to 20 percent on overseas buyers purchasing homes in Greater Vancouver. The move by the British Columbia authorities comes amidst growing public outcry over runaway housing prices perceived to be fuelled largely… Read More>>
China’s CIC to Look for More Real Estate Deals After Losing Money in 2015
China Investment Corporation (CIC) recorded a loss on overseas investment in 2015, the sovereign wealth fund’s first negative net annual return since 2011. The fund entrusted with investing China’s foreign reserves now has $813 billion in total assets including a… Read More>>
Vanke Confirms $1.9B Deal to Buy Blackstone Real Estate Assets
China Vanke today confirmed a $1.9 billion deal with Blackstone Group to purchase unspecified real estate companies from funds managed by the world’s largest alternative investment manager.
The mainland developer, which was China’s biggest by sales in 2015, made the… Read More>>
Can a Sun Hung Kai Mega-Project Bring a Renaissance to Shanghai’s Xujiahui?
Xujiahui, a commercial hub in downtown Shanghai that has lost its luster since the 1990s, could win back some of its shine as the local government renovates aging retail centres and Hong Kong developer Sun Hung Kai brings its biggest… Read More>>
Mainland Billionaire Spends $580M to Add One Harbourgate to HK Portfolio
A Chinese property investor who spent HK$2.1 billion ($271 million) in June to acquire Hong Kong’s most expensive home has added to his portfolio in the city with the HK$4.5 billion ($580 million) purchase of the east tower in Wheelock… Read More>>
Ping An Bails Out Wanda’s London Project with $660m Loan
A stalled $1 billion London project planned by China’s Dalian Wanda Group has received timely financing after the Chinese developer’s plans suffered recent setbacks including a plunge in local property sales and having the Anglo-Chinese joint venture selected to build… Read More>>
How China Resources Funded Baoneng’s Attempted Takeover of Vanke
A brief calm in the ongoing battle between Vanke founder Wang Shi and the company’s largest shareholder, Baoneng Group, was broken today when an independent member of the Chinese developer’s board confirmed that Baoneng’s Vanke share purchases had been funded… Read More>>
Blackstone May Sell $1.9B in China Assets to Vanke-Led Fund
China’s biggest developer is in talks to buy RMB 12.9 billion ($1.9 billion) in commercial property from an unspecified seller, which appears to be America’s biggest landlord, following a statement today from China Vanke regarding deal discussions.
The property firm… Read More>>
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