In today’s roundup of regional news headlines, developer Sunac China reaches a deal with holders of 30 percent of its offshore debt, and Best Mart 360’s co-founders enter an agreement to sell a large stake in the Hong Kong store… Read More>>
Wheelock Boss Splashes $7.6M for HK Condo and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Douglas Woo of Wheelock & Co bags a luxe apartment in Hong Kong’s Repulse Bay, and mainland developer Sunac warns of a 2022 loss on the order of $4 billion.
Hong Kong-Backed Star Admits Aussie Casino Guilt and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Aussie casino operator Star Entertainment owns up to illegally allowing chip purchases using credit cards, and Japan’s Star Asia REIT secures first dibs on a Tokyo student housing property.
FEC,… Read More>>
Blackstone Chases $660M for Sydney Tower and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Blackstone looks Down Under for its latest potential asset disposal, and China’s government ponders a novel method to maintain state control of private firms.
Blackstone Could Fetch A$1B as It… Read More>>
Times China Defaults on Two Offshore Bonds and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Times China becomes the latest mainland developer to slip into default, while Sunac China wins a crucial lifeline from creditors, and Dutch pension fund PGGM says it is cutting back its new commitments… Read More>>
Cash-Strapped Sunac Selling Off Shenzhen Ski Project Stake for $509M
Struggling developer Sunac China Holdings has agreed to sell its majority stake in a sprawling indoor ski resort project in Shenzhen for RMB 3.6 billion ($509 million), two years after teaming up with a government-backed builder to purchase the site.
Sunac Restructuring Plan Proposes Conversion of Debt Into Ordinary Shares
Sunac China Holdings on Friday previewed a restructuring plan under which the defaulting developer would convert between $3 billion and $4 billion worth of debt and certain shareholder loans into ordinary shares or equity-linked instruments.
Tianjin-based Sunac has been communicating… Read More>>
Digital Core REIT Buying Frankfurt Data Centre Stake and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Singapore-listed Digital Core REIT proceeds with buying a stake in a German data centre while forgoing an acquisition in Dallas, and a journalistic probe illuminates casino boss Steve Wynn’s shadowy connections in China.
Sunac Sells 90% Stake In Shanghai Project For $1.7B
Sunac China has sold nearly 90 percent of its interest in a development project in Shanghai’s Huangpu district to a pair of state-owned investment firms for an estimated RMB 12 billion ($1.7 billion), as the troubled mainland builder continues to… Read More>>
Sunac China Warns of 207% Plunge in 2021 Profit as Impairments Emerge
Sunac China Holdings issued an updated profit warning on Tuesday, pointing to an evaporation in earning power as the troubled developer grapples with billions of dollars in debt and an ongoing winding-up petition.
For the full year of 2021, Sunac… Read More>>
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