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>>
Ping An Teams with Mitsubishi to Back $1B Lendlease Sydney Project
Chinese financial services giant Ping An is pushing further into the Australian property market through a $1 billion joint venture with Lendlease and Japanese conglomerate Mitsubishi, according to a statement late last week by the Aussie real estate developer.
Shenzhen-based… Read More>>
HK Office Space Now 76% More Expensive Than NYC and More Asia Real Estate Headlines
China may be celebrating the moon festival, but the real estate market refuses to take a break over this lunar holiday. A new study finds Hong Kong office space is still the most expensive in the world, and IKEA reveals… Read More>>
Ping An Ramping Up Outbound Deals by 500%, Has $22.5B to Spend
Ping An Insurance is already one of China’s biggest cross-border buyers of real estate, but the mainland financial giant now says it could raise its overseas property holdings by as much as 500 percent within five years, as investment returns… Read More>>