Seven of Hong Kong’s ten wealthiest people and almost half of the city’s top billionaires made their fortunes in real estate, according to the latest annual ranking of the city’s 50 richest people by Forbes.
Thanks to a roaring real… Read More>>
Most Private Developers May Have Just Lost Access to China’s Bond Markets
The walls continue to close in on small and mid-sized property developers in China after financial regulators reportedly slammed the door to new domestic bond issues for companies not measuring up to newly devised standards. Reports in official Chinese media… Read More>>
Vanke Profits Drop 57% Amid Slow Housing Demand, High Land Prices
China Vanke saw its profits drop 57.49 percent in the first quarter as sales of new housing slowed and home prices dropped, but local governments continued to demand high prices for new land.
In its latest quarterly earnings report China’s… Read More>>
Investors Shrug Off Kaisa, Buy $250M in New Chinese Developer Debt
China’s Kaisa Group became the country’s first real estate developer to default on its offshore debt obligations on Monday last week, and by Friday international bond investors were snatching up new notes issued by two junk-rated mainland property firms.
Hong… Read More>>
Shanghai Developer Lands 5th Intl Project with LA Condo Deal
Chinese real estate developer Shenglong Group has acquired a site in Los Angeles for $26 million as the Shanghai-based company prepares for its fifth overseas project.
The privately held company paid one of the highest rates ever for the 44,412 square… Read More>>
Greenland Group Getting into Internet Finance
China’s largest real estate developer by sales now wants to jump into Internet finance, giving return-hungry investors a chance to held the giant state-owned enterprise fund its projects.
In an announcement in Hong Kong, the COO of Greenland Hong Kong,… Read More>>
Sunac to Buy 4 Kaisa Projects for RMB 2.37B – Merger is Off
Sunac China is buying four Shanghai projects from defaulting real estate developer Kaisa Group for RMB 2.37 billion ($380 million) according to announcements posted today from the two companies.
Sunac will be acquiring 100 percent of two of the companies,… Read More>>
Wanda Cinema to Raise RMB 1.26B in Shenzhen IPO
Wanda Cinema Line, the movie theatre operator belonging to billionaire property developer Wang Jianlin, has scaled back plans for its initial public offering on China’s Shenzhen exchange under instruction from Chinese regulators.
According to a report in Reuters this week,… Read More>>
China Real Estate People in the News 2015-01-12
Our first full week of activity in 2015 sees a US property developer promoting some local talent, a change of roles for an exec with one of China’s biggest financial management firms, and a flurry of moves at one of… Read More>>
Kaisa Defaults on $500M Bond Payment, Spooks Debt Markets
Chinese real estate developer Kaisa Group dug itself still deeper into default yesterday when the Hong Kong-listed company failed to make $26 million in interest payments due on offshore bonds.
The bond default is Kaisa’s second failure to meet debt… Read More>>
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