Oyo Hotels has cut its China staff by more than 72 percent since late 2019, according to a local news report last week, as the Softbank-backed company struggles to reach profitability less than one year after declaring itself the world’s… Read More>>
Tencent Joins $2.4B Investment in China Property Portal and More Asia Real Estate Headlines
A Chinese property listings portal leads the way in Mingtiandi’s roundup of Asia real estate headlines today with news that Tencent and Hillhouse joined a $2.4 billion funding round led by a $500 million commitment from Softbank.
In other stories… Read More>>
Softbank Said to Have Invested Total of $1.5B in China’s Ziroom, Beike
Softbank has invested $1.5 billion into a pair of Chinese property startups, as the Japanese venture capital firm takes a gamble on the mainland housing market.
In deals which closed in November last year, Softbank invested $1 billion into apartment… Read More>>
Temasek Said in Talks to Buy Majority Stake in WeWork China at $1B Valuation
Singapore’s Temasek Holdings, together with Shanghai-based investment manager Trustbridge Partners, has offered to buy up a majority stake in the China operations of troubled flexible office operator Wework, according to a report by Reuters today.
The Singapore government fund and… Read More>>
WeWork Losses More Than Doubled to Reach $1.25B in Third Quarter
Adding to the pain of the We Company’s IPO fail in September, the parent firm of shared workspace provider WeWork revealed in an investor presentation this week that its losses reached $1.25 billion in the third quarter of this year.
QingKe Completes $46M NASDAQ Listing and More Asia Real Estate Headlines
A Morgan Stanley-backed apartment rental operator leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the loss-making company raised $46 million through a US IPO, with shares priced at the lower end… Read More>>
Hong Kong Property Agencies Cut Staff as Deals Plunge and More Asia Real Estate Headlines
Staff cuts lead the way in Mingtiandi’s roundup of Asia real estate headlines today as Hong Kong property agencies clear out dead wood as deals plunge amid a market slump.
In other news around the region, Softbank says WeWork Japan… Read More>>
Softbank Bails Out WeWork, Neumann at $7B Valuation
WeWork has proven to be a game-changing business – at least for deposed CEO Adam Neumann.
Under the terms of a bailout package put together by Softbank, the WeWork founder will be receiving around $1.7 billion in compensation in return… Read More>>
Softbank in Talks to Take Control of WeWork in Bailout
Weeks after the failure of what had been expected to one of 2019’s biggest initial public offerings, WeWork is reported to be scrambling for a multi-billion dollar bailout package as media reports indicate the office sharing giant could run out… Read More>>
Softbank-backed Oyo Hotels Raising $1.5B to Expand into US, Europe
Indian hospitality group Oyo Hotels and Homes today announced that it is raising $1.5 billion to continue its expansion into the US, Europe and other global markets.
25-year-old Oyo founder Ritesh Agarwal is leading the financing round with support from… Read More>>