Real estate developer Sunac China Holdings is asking for shareholder approval on a RMB 4.4 billion ($663 million) deal to acquire seven projects in six Chinese cities, including developments in Shanghai, Hangzhou and Shenzhen, from Hong Kong-based competitor Top Spring… Read More>>
Anbang Sales Rise 5x in June Despite China Insurance Crackdown
Beijing-based Anbang Insurance, which failed in a $14 billion bid to buy Starwood Hotels and Resorts this year, continued to draw attention in China’s financial world this month after new figures showed that the company controlled by entrepreneur Wu Xiaohui… Read More>>
Keppel Reaches First Closings Worth $410M for New Real Estate Funds
Singapore’s Keppel Capital achieved a pair of fund-raising milestones this past week as the company’s real estate investment management subsidiary, Alpha Investment Partners, reached first closings worth a combined $410 million for a pair of closed-end property funds.
Alpha brought… Read More>>
Frank Chen Joins Pimco as Credit Analyst
Former CBRE China Executive Director Frank Chen, has landed at PIMCO, the investment management arm of European financial giant Allianz SE, as a credit analyst based in Hong Kong.
Chen started work this month as a senior vice president in… Read More>>
Did Anbang’s Failed Starwood Bid Lead to High-Yield Sales Windfall?
China’s Anbang Insurance lost the $13.6 billion battle for Starwood Hotels and Resorts in April, but the prolonged campaign to acquire the global hotel group may have helped drive a sales surge that has transformed the 12-year-old privately held group… Read More>>
Tishman Speyer Teams with Lenovo for $1.35B Shenzhen Project
Real estate developer Tishman Speyer continues to bet on the China dream with the US company announcing last week that it has secured its first project in Shenzhen, through a RMB 9 billion ($1.35 billion) joint venture with mainland high… Read More>>
WeWork Opens First Asian Centre in Shanghai
WeWork, the Manhattan-based communal office provider, launched its first Asia location in Shanghai this month as companies work to gauge the depth of demand for co-working space in Asia. The US$16 billion startup’s beachhead in the region opened for business… Read More>>
After a Boom Decade, Shanghai Still Needs Room to Grow
“Ten years ago, there were construction cranes everywhere in downtown Shanghai,” recalls Anthony Couse, the outgoing Managing Director of property consultancy JLL’s Shanghai and East China offices. The city was in the midst of a massive construction boom. Many analysts… Read More>>
China’s Greenland Group Plans 1500 New Homes in North Hollywood
Shanghai’s Greenland Group, China’s second-largest real estate developer by sales, is part of a team that has won first-round approval for developing a mixed-use project that could involve building as much as 232,000 square metres (2.5 million square feet) of… Read More>>
COFCO Property Beats Out 20 Rivals to Pay $368M for Suburban Shanghai Site
The rush for land in China’s first-tier cities continues as Beijing-based COFCO Property Investment last week agreed to pay RMB 2.44 billion ($368 million) for a plot of residential land in Shanghai’s Pudong district. The price paid by the state-run… Read More>>