In today’s roundup of regional news headlines, US-based Digital Realty reportedly considers a trust IPO in Singapore, casino giant Las Vegas Sands is hit with a $12 billion lawsuit in Macau, and ESG-linked borrowing soars to a record high in… Read More>>
Ex-Vanke Chief Wang Shi Named Co-Chair of Sky City Developer Broad Group
Just under one year after resigning as head of the development giant that he founded, former China Vanke chairman Wang Shi has resurfaced as co-chairman of a Changsha-based builder that once hoped to construct China’s tallest building, according to a… Read More>>
Wang Shi Quits China Vanke in Epilogue to Takeover Drama
Wang Shi will step down as Chairman of China Vanke, the residential real estate company he formed in 1984 and built into the mainland’s largest developer by value, according to an announcement today by the celebrity entrepreneur.
“After considering the… Read More>>
Blackstone Selling Seaworld Stake to Chinese Conglomerate and More Asia Real Estate Headlines
Leading the region’s real estate news today, Stephen Schwarzman’s attic must be emptying out quickly as the Blackstone boss sells yet another holding to a Chinese firm – and simultaneously redirects some angry phone calls from animal rights activists. Also… Read More>>
How China Resources Funded Baoneng’s Attempted Takeover of Vanke
A brief calm in the ongoing battle between Vanke founder Wang Shi and the company’s largest shareholder, Baoneng Group, was broken today when an independent member of the Chinese developer’s board confirmed that Baoneng’s Vanke share purchases had been funded… Read More>>
Baoneng Calls for Wang Shi’s Ouster in Battle for China Vanke
The battle for control of China Vanke, the mainland’s largest property developer, has become an all-out war as the company’s largest shareholder has filed a motion to remove chairman Wang Shi and nearly all of the company’s board. The move… Read More>>
China Vanke Seals $6.9B Deal to Escape Hostile Takeover
The mainland’s largest real estate developer is assured to continue under its current leadership after China Vanke finalised a RMB 45.6 billion ($6.9 billion) agreement to trade shares for sites with the operator of Shenzhen’s subway system.
The agreement, which… Read More>>
Hang Lung’s Gerald Chan to Give $350M to Harvard
Gerald Chan of Hong Kong’s Hang Lung Properties became the biggest donor ever to Harvard University on Monday, when the Massachusetts-based institution announced that Chan would be making a $350 million gift to the university’s school of public health.
The… Read More>>
China to Allow 100% Foreign-Owned Hospitals
China took a major step towards opening up its healthcare sector to foreign investment this week, when the Ministry of Commerce and the National Health and Family Planning Commission jointly announced that foreign companies will be allowed to wholly own… Read More>>
Vanke Selling More Homes Thanks to Price Cuts
China’s biggest developer has sold more homes than ever in 2014, but is seeing profit growth compressed by the nation’s housing slump and discounting, according to results released this week by China Vanke.
The Shenzhen-based real estate company declared its… Read More>>