Asia real estate and outbound investment news
After investing $1.4 billion in Sincere Property Group (协信远创) over the past 17 months, City Developments Ltd has agreed to sell its majority stake in the Chongqing-based developer for $1.00 as it writes off the mainland joint venture.
“The consideration… Read More>>
Singapore real estate giant City Developments Limited confirmed today that after investing a total of $1.36 billion into Sincere Property Group, the Chongqing-based developer has been sued for bankruptcy in a Chinese court.
Beijing Yi He Mercury Investment, a creditor… Read More>>
A fourth director has resigned from the board of City Developments Ltd (CDL) after the troubled Singapore development titan reported a loss attributable to shareholders of S$1.9 billion ($1.4 billion) in 2020.
Jenny Lim Yin Nee ended her role as… Read More>>
A war of words is brewing after Singapore-based City Developments Ltd clapped back against what it termed incorrect information issued by its joint venture partner, Chinese developer Sincere Property Group.
CDL’s response on Thursday came a day after Sincere released… Read More>>
In today’s roundup of regional news headlines, heavily leveraged mainland developer CFLD announces its latest default, China’s Sincere Property throws shade on joint venture partner CDL of Singapore, and 41 parties enter the race for a Hong Kong development project.
Singapore-listed City Developments Ltd on Monday said it had agreed to acquire an effective 55 percent stake in a Shenzhen technology park in a bid to shore up the liquidity of CDL’s joint venture with Chinese developer Sincere Property Group.
Singapore-based City Developments Ltd on Thursday issued a fresh warning that it is likely to report a loss stemming from the firm’s contentious investment in mainland Chinese developer Sincere Property Group.
In the filing with the Singapore Exchange, CDL cited… Read More>>
Leading today’s roundup of Asia real estate happenings is more bad news for a Singapore-listed hotel trust, which has just lost three of its remaining six directors, according to an announcement to the stock exchange today.
Also,… Read More>>
The new year is looking much like the old for City Developments Ltd and its board, with a third director in as many months stepping down over the Singaporean firm’s contentious investment in Chinese developer Sincere Property Group.
The resignation… Read More>>
For the second time in less than three months, a board member of City Developments Ltd has stepped down over concerns about the Singaporean firm’s investment in mainland Chinese developer Sincere Property Group.
The resignation of independent non-executive director Koh… Read More>>
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