A joint venture invested by Sunac China is selling an under-construction commercial project in Shanghai’s Lujiazui area to an insurer controlled by mainland sovereign wealth fund CIC for RMB 3.09 billion ($390 million), according to an announcement to the Hong… Read More>>
Le Eco Auctioning Beijing Shimao Gongsan Plaza on Taobao for RMB 2.3B
True to its online, e-commerce, new economy roots, cash-strapped Chinese tech company LeEco has put a 50,000 square metre (538,000 square foot) Beijing shopping center up for auction on China’s flagship e-commerce platform Taobao as it continues to scramble for… Read More>>
HNA Confirms Fire Sale List of $1.1B More in Mainland China Assets
Financially troubled mainland conglomerate HNA Group has now disclosed that it is seeking to unload a set of domestic assets worth RMB 7.6 billion ($1.1 billion), according to local media reports citing public statements by officials representing the parent company of… Read More>>
Ranks of China’s RMB 100B Developers Set to Double in 2018
Mainland China’s top real estate developers have seen a bountiful year despite a downtrend in the past three months, with 26 developers reporting contracted sales exceeding RMB 100 billion ($15.5 billion) through the first 11 months of the year.
According… Read More>>
Wanda Sells Tourism Management Business to Sunac for RMB 6.28B
Dalian Wanda Group ended weeks of speculation on Monday by confirming that it has sold its tourism management business to Hong Kong-listed Sunac China Holding for RMB 6.28 billion ($902 million).
The sale follows tycoon Wang Jianlin’s RMB 43.8 billion… Read More>>
Xu Jiayin Ranks as China’s Richest Property Person for Second Straight Year
China Evergrande Real Estate chairman and CEO Xu Jiayin leads the ranks of the mainland’s wealthiest real estate people for the second year in a row with assets estimated at RMB 215 billion ($31 billion), according to the annual Hurun Report… Read More>>
Sunac China Buys Control of Failing Le Eco Units After Losing $2.6B
China’s fourth largest real estate developer Sunac China Holdings has taken control of two of the three units of Jia Yueting’s financial-troubled LeEco company via court auction, at a price of RMB 773 million. The investment comes after the developer… Read More>>
Sunac Focuses on Core Business After LeShi Debacle and More Asia Real Estate Headlines
Developer half-year financial results continue to dominate the headlines today, as both Sunac China and Hong Kong’s Sino Land report in with big jumps in profit driven by strong sales in the first six months of 2018. Down in Singapore… Read More>>
HNA Said to Sell Hainan Site to Sunac for $125M
HNA’s sales of European and US assets have been grabbing headlines internationally, but the indebted Chinese conglomerate is also selling assets closer to home, including this week selling the site of its former corporate headquarters, according to accounts in the… Read More>>
Shanghai Disney Adds Toy Story Land as Rival Chinese Parks Struggle
Two weeks after a top Chinese government planning body warned against the “blind” construction of theme parks, Walt Disney unveiled the first expansion of its Shanghai Disney Resort with the presence of municipal government representatives sporting grins nearly as large… Read More>>
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