Asia real estate and outbound investment news
Luxury home builder Greentown China Holdings announced late last week that its co-chairman Song Weiping had resigned from the company he founded twenty-four years ago in a move seen as unifying control of the Hangzhou-based developer.
Song, who had sold… Read More>>
Greentown China, which nearly became a casualty of the mainland’s previous housing slowdown in 2014, has raised concern among investors this week after the Hangzhou-based developer issued a notice urging staff to urgently improve the company’s cashflow.
The notice distributed… Read More>>
The biggest merger of China’s largest real estate downturn has evaporated – apparently over entrepreneurial pride, as Sunac’s acquisition of a controlling stake in Greentown has been cancelled.
After rumours had circulated in recent weeks that Greentown China Chairman Song… Read More>>
The biggest property developer to change hands during China’s real estate downturn may not be sold after all, following difficulties getting the share sale approved by the Hong Kong Stock Exchange.
Tycoon Song Weiping, along with this family and close… Read More>>
The chairman of a Hangzhou-based real estate developer blamed “stupid officials” for the hard times that have forced him to sell out his controlling stake in Greentown China to Sunac Holdings, in a transaction valued at HK$6.3 billion (US$813 million).
While China’s real estate market slump has meant trouble for some investors, many companies continue to see it as an opportunity to shop for deals that might never be available in a bull market.
Tianjin-based developer Sunac is taking advantage of… Read More>>
China’s largest property developers have built a war chest of more than US$25 billion in cash through bond sales and loans, in a sign that competition for land – and among China’s property companies – is heating up.
Firms including… Read More>>
Another chunk of troubled real estate developer Greentown China was bitten off and swallowed by Hong Kong’s Wharf on August 2nd, as the Hong Kong based property firm continued what will likely be its eventual takeover of Hangzhou-based Greentown.
Following… Read More>>
The extent to which China’s real estate restrictions are forcing consolidation in the industry was underlined yesterday when debt-saddled developer Greentown announced that its Greentown Plaza project in Shanghai’s Hongqiao area would be sold to SOHO China for RMB 2.14… Read More>>
