A fund managed by TPG Angelo Gordon has teamed up with Wang On Properties to take advantage of Hong Kong’s cratering commercial property market by acquiring a hospitality asset in the city for conversion to student housing.
The US fund… Read More>>
Asia Real Estate People in the News 2024-10-07
A new boss at one of the region’s largest investors heads up this week’s review of personnel moves from around Asia’s real estate industry as Korea’s KIC updates its org chart. Also making the list is a new chairman at… Read More>>
Hong Kong’s Wang On Adds Chevalier as JV Partner for $243M Kowloon Residential Project
Hong Kong-based developer Wang On Properties is bringing on local conglomerate Chevalier International Holdings as a partner for a HK$1.9 billion ($243 million) residential joint venture in southeastern Kowloon’s Yau Tong area as it seeks to boost liquidity and reduce… Read More>>
Asia Real Estate People in the News 2024-04-01
The first quarter has come to a close and a number of Hong Kong-based real estate and investment companies have named new leadership to guide them through the final nine months of 2024 with Mingtiandi rounding up senior personnel moves… Read More>>
Mainland Developer Logan’s Restructuring Hits Snag and More Asia Real Estate Headlines
Logan Group leads today’s collection of headlines from around the region as the bank creditors threatened to liquidate two key units. Also in the news, India’s Phoenix Mills shelves plans to foray into warehousing properties and Hong Kong builders face… Read More>>
Wang On Buys Building Opposite APG JV Redevelopment Project in Hong Kong
Hong Kong developer Wang On Properties has taken over an aging residential building in Southern District’s Ap Lei Chau for about HK$106 million ($13.6 million), with plans to redevelop the property and surrounding buildings into what could become a more… Read More>>
Angelo Gordon, Wang On Buying Kowloon Hotel From New World for $260M
Wang On Properties has announced its first hospitality investment, teaming with US private equity shop Angelo Gordon to purchase the Pentahotel Hong Kong from New World Development for HK$2 billion ($260 million).
The 695-room hotel in Kowloon contains 285,000 square… Read More>>
APG-Wang On JV Buying Out CIFI Stake in Hong Kong Project for $170M
Financial pressure on mainland developers is creating opportunities for investors in Hong Kong’s residential sector, with Shanghai-based CIFI Holdings agreeing to sell its 60 percent stake in a Fortress Hill project with Wang On Properties to a joint venture of… Read More>>
Wang On Selling Ap Lei Chau Property to JV With APG for $70M
Hong Kong developer Wang On Properties will sell a building at 128-130 Main Street on Ap Lei Chau island to its joint venture with Dutch fund manager APG for HK$554.8 million ($70.6 million), with the partners planning to redevelop the… Read More>>
Wang On Acquires $33M Kowloon Site for APG Residential JV
Wang On Properties is continuing to bet on the Hong Kong housing market, having last month acquired the Cheng Fung Mansion in Kowloon in an auction which valued the ageing building at HK$257 million ($32.9 million), according to a press… Read More>>