Embattled mainland developer Dalian Wanda Group has sold its Wanda Reign on the Bund hotel in Shanghai to the family office of Indonesian pulp and paper billionaire Sukanto Tanoto in a rare purchase of a mainland hotel asset by a… Read More>>
Greenland Group Unveils Plan for RMB 100B Project on Shanghai’s South Bund
Just three months after buying a 50 percent stake in a site in Shanghai’s Huangpu district from financially troubled China Minsheng Investment Group, state-backed Greenland Group has unveiled plans for a relaunch of what it says is a RMB 100… Read More>>
Minsheng Investment Sells Shanghai Project to Greenland for RMB 12B After Default
China Minsheng Investment Group (CMIG) has sold its 50 percent stake in a mixed-use project in Shanghai’s South Bund area to Greenland Group for RMB 12 billion ($1.77 billion), disposing of the high-profile site at an apparent loss as it… Read More>>