Asia Pacific real estate investment news and information
Troubled mainland developer Shimao Group has hired a fresh set of advisors to carry out an “independent investigation” into accounting issues raised by the company’s departed auditor, PricewaterhouseCoopers.
In addition to the probe to be conducted by RSM Corporate Advisory,… Read More>>
After suing troubled mainland builder Shimao Group Holdings in July over an overdue debt linked to a Hong Kong residential project, Singapore’s United Overseas Bank Ltd (UOB) has settled its dispute with the defaulting developer at the same time it… Read More>>
A pension fund manager with $800 billion in assets has a new boss with news of the fresh leadership of Korea’s NPS leading Mingtiandi’s personnel column this week. Also making the list are a set of board changes at troubled… Read More>>
Shimao Group has agreed to sell its stakes in two Beijing residential projects to red-chip developer China Resources Land for RMB 3.3 billion ($480 million), continuing this year’s theme of state-owned enterprises bailing out distressed mainland builders.
Shimao’s interest comprises… Read More>>
In today’s roundup of regional news headlines, debt-saddled developer Shimao floats a proposal to repay $11.8 billion over eight years, a Shanghai mega-mall reels from COVID-led lockdowns, and Link REIT extends a rent holiday for Hong Kong tenants.
Read More>>
Leadership changes at mainland real estate firms lead this week’s collection of personnel moves from around the region, as China Resources Land announces a new president at the same time that Shimao Services and LVGEM China say goodbye to non-executive… Read More>>
Distressed developers and troubled tech takeovers lead today’s collection of real estate headlines from around the region, as one of Singapore’s biggest banks sues Shimao Group in Hong Kong and Gaw Capital finds an opportunity to move into real estate… Read More>>
In today’s roundup of regional news headlines, Singapore-listed Ascendas India Trust is reportedly in talks to acquire L&T Realty’s commercial portfolio, Chinese developer Shimao gets permission from creditors for an onshore bond extension, and buyers snap up flats at a… Read More>>
In today’s roundup of regional news headlines, Chinese developer Powerlong looks to stagger payments over one year for an onshore bond maturing next week, Shanghai’s rental residential market takes its lumps in the aftermath of a harsh COVID lockdown, and… Read More>>
Mainland developer Shimao Group failed to pay off a $1 billion offshore bond that came due on Sunday, etching its name in the list of Chinese real estate firms defaulting on dollar-denominated debt.
Shimao owed more than $1.02 billion in… Read More>>
