Asia Pacific real estate investment news and information
China’s Fosun International is said to be pursuing London’s Grosvenor House Hotel, as the investment conglomerate continues to expand its global real estate portfolio.
The five-star London landmark is currently on the market for a reported ₤500 million ($762 million)… Read More>>
China’s insurance companies continued their global shopping spree this week when Sunshine Insurance agreed to buy the still unopened Baccarat Hotel in New York for more than $230 million.
According to sources familiar with the transaction, Sunshine is paying the… Read More>>
A little known company from western China is quickly becoming a major player in the southern California hotel market after a subsidiary of Sichuan Xinglida Group closed on the purchase of the Los Angeles Airport Marriott for $160 million.
The… Read More>>
Hospitality group Starwood Hotels & Resorts Worldwide announced on Friday that it had sold its Sheraton on the Park in Sydney, Australia to China’s Sunshine Insurance Group Corporation for A$463 million (US$401 million).
The acquisition continues a number of major… Read More>>
The value of hotel investment transactions in Asia climbed to US$7.5 billion in 2013, up 218 percent over 2012 to reach the highest levels since the financial crisis in 2007.
The rebound in hotel asset values and deal numbers was… Read More>>
Fashion guru Karl Lagerfeld is going to design a hotel in Macau, as one of the fashion world’s iconic figures turns his attention to a new style sector.
The Chanel mogul is adding to his extensive list of talents – which already include drawing and helicopter design – by turning his hand to architecture and creating a 270-room hotel in Asia’s gambling mecca, Macau.
According to a recent press report, the fashion designer says that he’s turning to hotel design only because he was tired to buying more houses.
A market analysis report released this month by international real estate advisor Savills, predicts that Chinese investors will increase their share of global cross border hotel acquisitions from the current level of 4% to 10% by 2017.
The report predicts… Read More>>
A privately owned Hong Kong real estate developer added to the flood of Chinese money into Australia this week by picking up the Melbourne Park Hyatt Hotel for a reported A$135 million (US$119.78 million).
The five star hotel is located near Melbourne’s Parliament House at 1 St Andrews Place and was developed in 1999 by Lustig & Moar at a cost of $150 million. The sale involves both the 240 room Park Hyatt hotel and an adjoining commercial car park.
City Developments Ltd, the Singapore-listed developer which owns the Millennium & Copthorne hotel chain, moved to internationalise its operations on Friday with the appointment of Apollo Global Management real estate head Grant Kelley as its new chief executive.
Kelley has… Read More>>
Here is a list of the day’s latest China real estate news collected from around the web:
Chinese property prices rose again in December, according to two private surveys, but… Read More>>
