Tag: New World Development

  • China Vanke Hit by Reports of Cash Crunch and More Asia Real Estate Headlines

    China Vanke Hit by Reports of Cash Crunch and More Asia Real Estate Headlines

    One of the few top Chinese builders to have avoid a default, China Vanke saw its shares and bonds slide on Monday on rumours of a cash shortage, with that story leading today’s roundup of Asia real estate headlines. Also in the news, CapitaLand takes on more Vietnamese residential projects and Hong Kong’s office market…

  • Hong Kong’s New World Selling New Territories Mall to Chinachem for $514M

    Hong Kong’s New World Selling New Territories Mall to Chinachem for $514M

    New World Development is selling a shopping centre in Hong Kong’s Tsuen Wan area to Chinachem Group at a one-third discount from its reported asking price, as the Hong Kong-listed builder continues to pare its investment portfolio as part of a multi-year campaign to reduce debt and maintain dividends to shareholders. The company controlled by…

  • Controlling Stake in Korea’s IGIS Said Up for Sale and More Asia Real Estate Headlines

    Controlling Stake in Korea’s IGIS Said Up for Sale and More Asia Real Estate Headlines

    A controlling stake in South Korea’s IGIS Asset Management has gone on the market, with that story leading today’s headline roundup from around the region. Also making the list, Deutsche Bank is not impressed by restructuring plans at China’s Shimao, Hong Kong’s New World Development plans to accelerate project launches as the Hong Kong market…

  • New World’s Cheng Family Seeks to Push Out Giordano Boss Peter Lau

    New World’s Cheng Family Seeks to Push Out Giordano Boss Peter Lau

    The Cheng family behind New World Development has called for the dismissal of Peter Lau from his role as CEO of Giordano International, the Hong Kong-listed fashion retailer in which a Cheng-controlled vehicle is the largest shareholder. The clan led by billionaire Henry Cheng wants to remove Lau from the company’s board and his CEO…

  • NWD, ADIA to Refinance $1.2B HK Hotel Loan and More Asia Real Estate Headlines

    NWD, ADIA to Refinance $1.2B HK Hotel Loan and More Asia Real Estate Headlines

    New World Development and Abu Dhabi’s sovereign wealth fund plan to refinance a $1.2 billion hotel loan in Hong Kong, with that story leading Mingtiandi’s headline roundup today. Also making the list, Warburg Pincus and Bain Capital vie to acquire India’s Shriram Housing Finance for $601 million and an illegal mortgage on one of EC…

  • New World Tsim Sha Tsui Project Gets Planning Committee Green Light

    New World Development has secured final approval for a 28-storey commercial-led project in the heart of Kowloon’s Tsim Sha Tsui district, with the builder’s redevelopment application receiving the green light from the Hong Kong Town Planning Board’s Metro Planning Committee. In public records released Friday, the Metro Planning Committee conditionally approved New World’s proposal to…

  • New World Taps China Resources to Develop $1.3B New Territories Residential Project

    New World Taps China Resources to Develop $1.3B New Territories Residential Project

    New World Development has teamed with state-controlled China Resources Land on a residential joint venture worth a reported HK$10 billion ($1.28 billion), giving the debt-laden Hong Kong builder a chance to raise cash from farmland it owns in the New Territories. Under the agreement made public Wednesday, NWD and China Resources Land will jointly develop…

  • New World’s Cheng Family Picks Number Two Son to Head Infrastructure Business

    New World’s Cheng Family Picks Number Two Son to Head Infrastructure Business

    NWS Holdings, the infrastructure and construction business of New World Development and Chow Tai Fook chairman Henry Cheng, has appointed the Hong Kong tycoon’s second eldest son, Brian Cheng Chi-ming, as co-CEO as questions over succession intensify within the family’s property and retail empire. As part of a broader management shuffle, 41-year old Brian will…

  • Evergrande Boss Struggles to Sell $602M Mansion and More Asia Real Estate Headlines

    Evergrande Boss Struggles to Sell $602M Mansion and More Asia Real Estate Headlines

    China Evergrande leads Asia’s real estate news again today with report that chairman Xu Jiayin is struggling to sell his furtively acquired mansion in London’s West End. Also in the news, Malaysia’s IOI acquires Kuala Lumpur’s W Hotel and Moody’s follows up on its China credit review by going pessimistic on Hong Kong and Macau.…

  • New World Buying Back $610M in Bonds as Stock Slides and More Asia Real Estate Headlines

    New World Buying Back $610M in Bonds as Stock Slides and More Asia Real Estate Headlines

    Hong Kong’s New World Development leads Mingtiandi’s review of the real estate news today with the developer buying back bonds amid a stock slide. Also in the headlines, Singapore launches a pair of residential site tenders and Hong Kong’s central bank warns banks to prepare for more Chinese developers defaulting on debt. New World Development…