A joint venture between Sun Hung Kai Properties and Ping An Insurance has won a land parcel in Hangzhou for RMB 13.26 billion ($1.88 billion), earning the right to develop 857,700 square metres (9.23 million square feet) of commercial and… Read More>>
Ping An Spends RMB 4.2B to Boost Stake in Mainland Developer CFLD to Over 25%
Chinese financial giant Ping An has increased its stake in top ten mainland builder China Fortune Land Development (CFLD) to 25.25 percent, less than seven months after it acquired nearly one fifth of the group to become its second largest… Read More>>
KPF’s Lotte World Tower in Seoul Wins Super Skyscraper Title
The cloud-breaching Lotte World Tower in Seoul has been recognized as the best new skyscraper in the world, beating out Zaha Hadid Architects’ Generali Tower in Milan and 150 North Riverside Plaza in Chicago.
The tapered 555-metre, 123-storey glass and… Read More>>
CFLD Gets RMB 6B Funding Injection From Ping An
China Fortune Land Development (CFLD) has announced to the Shanghai Stock Exchange that it will accept debt financing of up to RMB 6 billion ($870 million) from Ping An Asset Management, the second-largest shareholder in the developer and a unit… Read More>>
Asia Real Estate People in the News 2018-12-10
The game of musical chairs continued at mainland developers over the week, with China Fortune Land pilfering yet another executive from rival China Resources Land. Wu Xiangdong joined Yu Jian in leaving China Resources Land for China Fortune Land Development,… Read More>>
CFLD Aims to Join China’s Top Three Developers via Partnership with Ping An
Top ten mainland builder China Fortune Land Development (CFLD) this month announced that it is welcoming three senior executives from Ping An Insurance to take leading roles at the developer, just three months after the insurer paid RMB 13.8 billion… Read More>>
Ping An Ups CFLD Stake to 20% for $2B as Developers Scramble for Cash
A unit of Chinese financial giant Ping An is acquiring almost a fifth of China Fortune Land Development (CFLD) in the group’s third major acquisition of a stake in a top publicly listed developer in the last three years.
The RMB… Read More>>
China’s CIRC Follows Anbang Takeover with Ping An Punishment in Outbound Investment Crackdown
Chinese insurers’ $15 billion overseas real estate shopping spree may go on the endangered list, as the country’s insurance regulator reprimanded three major insurers for illicit cross-border investments Saturday. The move is part of the regulator’s efforts in reining in… Read More>>
HNA Says Debt Scrutiny is an Anti-Chinese Plot and More Asia Real Estate Headlines
At the top of today’s news, the co-chairman of Chinese super-investor/debtor HNA Group claims that the company is a victim of a plot by dastardly reactionary forces. And speaking of cross-border investment, a premium condo tower in San Francisco backed… Read More>>
Ping An Teams Up with Landsea for $1.5B China Rental Housing Fund
China’s Ping An Insurance Group and Landsea Group have become the latest mainland investors to wager on the country’s emerging rental housing market, as steep home prices in major cities fuel enthusiasm for the asset class.
Ping An Real Estate,… Read More>>