China’s cash-strapped developers cut back further on real estate investment in July as new construction starts fell at the fastest pace in almost a decade and home sales worsened despite the lifting of COVID lockdowns and a slew of stimulus… Read More>>
Jesline Goh Resigns as CIO of Singapore’s UOL as Developer Promotes Hotel Chief
Jesline Goh is stepping down as chief investment and asset officer of Singaporean developer UOL Group after nearly five years on the job, with her last day set for 11 September, according to an SGX announcement late Friday.
Now 49,… Read More>>
Guangzhou R&F 2021 Net Loss Doubles to $2.4B After Write-Down
Distressed Chinese property developer Guangzhou R&F Properties announced its long-delayed 2021 audited financial results on Sunday, reporting a net loss of RMB 16.4 billion ($2.4 billion). That figure was nearly double the loss of RMB 8.7 billion which R&F had… Read More>>
Logan Halts Payments on Offshore Bonds, Appoints Advisors for ‘Holistic’ Restructuring
Chinese developer Logan Group has provided new details of the “holistic” approach it will take to work through its $6.6 billion debt load, including the suspension of interest payments on five sets of offshore bonds maturing over the next six… Read More>>
Fortune REIT to Buy CK Asset Singapore Project and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Hong Kong’s Fortune REIT moves to acquire a CK Asset-built project in northeastern Singapore, two Chinese developers garner support from state-backed firms, and America’s Chapter 15 bankruptcy process hints at a way forward… Read More>>
Evergrande Gets $818M Refund for Surrender of Football Stadium Project
China Evergrande Group, the world’s most indebted developer, said late last week it will receive a RMB 5.52 billion ($818 million) refund from the city of Guangzhou for giving up the land use rights for an unfinished football stadium in… Read More>>
ESR-Logos REIT Selling Jurong East Warehouse to ST Logistics for $32M
It was a busy week for ESR-Logos REIT after its manager announced back-to-back deals, with the S$43.5 million ($32 million) sale of a warehouse in Jurong East to local logistics firm ST Logistics coming on the heels of sponsor ESR… Read More>>
Hongkong Land Swings to H1 Profit, Cautious on Full-Year Results
Hongkong Land posted a first-half profit attributable to shareholders of $292 million, reversing a year-earlier loss of $865 million, but the builder remains lukewarm on the full-year outlook as anti-COVID measures roil office leasing in its home patch and sporadic… Read More>>
China Merchants Shekou Buys Five Shanghai Sites for $1.3B
China Merchants Shekou Industrial Zone Holdings is doubling down on its expansion in Shanghai, spending RMB 8.74 billion ($1.3 billion) this past week to pick up stakes in five sites in China’s commercial capital.
In Shanghai’s second land auction of… Read More>>
China Mortgage Losses Could Hit $350B and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China’s property crisis threatens to blow a $350 billion hole in the banking system’s mortgage portfolio, a Hong Kong political figure urges the appointment of Ping An reps to HSBC’s board, and debt-stricken… Read More>>
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