Propelled by housing prices that jumped as much as 20 percent in some major cities during December, China closed out 2013 with a record RMB 6.8 trillion ($1.1 trillion) in home sales for 2013.
According to data from the National… Read More>>
Mapletree Sets Records with HK$3.77B Buy of Hong Kong Site
A fund managed by Singaporean real estate developer Mapletree set new records for land prices in Hong Kong’s Kowloon district recently with its purchase of a commercial site for HK$3.77 billion (US$486 million).
The successful bid by Mapletree investments, beat… Read More>>
PE Veteran Grant Kelley Takes Over at Singapore Developer
City Developments Ltd, the Singapore-listed developer which owns the Millennium & Copthorne hotel chain, moved to internationalise its operations on Friday with the appointment of Apollo Global Management real estate head Grant Kelley as its new chief executive.
Kelley has… Read More>>
Better, Stronger, Faster — It’s the New Mingtiandi
Today I’m rolling out a new version of Mingtiandi with a range of content, design and technology improvements that will bring you more real estate information, make stories easier to find, and deliver that content faster whether you are working… Read More>>
Blackstone Close to Completing Takeover of HK Developer Tysan
Blackstone Group has effectively taken over control of Hong Kong-listed real estate developer Tysan Holdings by buying up 71 percent of the shares in the company, as the global private equity giant seeks easier access to China real estate opportunities.
According an annoucement in the Shanghai Securities News, Blackstone acquired 65.5 percent of the shares on January 3rd for HK$1.64 billion ($211.5 million)
Developer Wanda Plans 24 New Malls and 18 More Hotels in 2014
Dalian Wanda, the conglomerate controlled by China’s richest man, Wang Jianlin, has made outlandish headlines a routine occurrence in recent months, however, the company’s recent announcement of plans to add 24 new shopping malls within the next year, as well as 18 new five-star hotels, seems a bit crazy.
Even for a company that recently decided to take on Mickey Mouse, with plans for an amusement park in Wuxi that Wang challenged observers to compare “head to head with Shanghai Disney in terms of park visitors, and amount of revenue and see who is better.”
Freddy Lee Takes the Fall as Shui On Continues to Struggle
Shui On Land CEO Freddy Lee abruptly stepped down from his leadership of one of China’s best-known real estate developers late last week, leading to speculation that he had been dismissed by company founder and chairman Vincent Lo.
In a… Read More>>
Pan Shiyi Courts the Press and Tests Pollution on Shanghai’s Subway
Real estate developer and attention-seeker Pan Shiyi led the media on a pollution-checking tour of Shanghai’s subway on Friday in an apparent attempt to ensure the public that the city’s public transport was pretty ok.
Pan’s day job may be… Read More>>
Evergrande Jumps into Water Biz with RMB5.7B in Orders
Not content with being China’s second largest real estate developer or winning the AFC Champions League soccer crown, Guanzhou-based Evergrande Group announced orders worth RMB 5.7 billion ($940 million) for its new bottled water brand, Evergrande Spring over the weekend.
At a ceremony in the city of Qingyuan in Guangdong, the company’s chairman, Xu Jiayin announced plans to…
China’s Warren Buffett Buys European Insurer for $1.36B
Chinese conglomerate Fosun International Ltd. picked up Portuguese insurance firm Caixa Seguros e Saude this week for 1 billion euros ($1.36 billion), marking one of the biggest overseas investments in the finance sector to date by a Chinese investor.
In a sign of China’s growing economic clout, Fosun bested U.S. buyout firm Apollo Management International LLP to acquire the insurance arm of Portugal state bank Caixa Geral de Depositos SA