Adding to the pain of the We Company’s IPO fail in September, the parent firm of shared workspace provider WeWork revealed in an investor presentation this week that its losses reached $1.25 billion in the third quarter of this year.
WeWork Said Looking for Exit From Half-Dozen Hong Kong Centres
WeWork has backed out of an agreement to occupy space in Hong Kong’s Hopewell Centre even before it got a chance to move in, according to sources familiar with the decision who spoke with Mingtiandi.
The troubled co-working pioneer is… Read More>>
QingKe Completes $46M NASDAQ Listing and More Asia Real Estate Headlines
A Morgan Stanley-backed apartment rental operator leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the loss-making company raised $46 million through a US IPO, with shares priced at the lower end… Read More>>
Hong Kong Property Agencies Cut Staff as Deals Plunge and More Asia Real Estate Headlines
Staff cuts lead the way in Mingtiandi’s roundup of Asia real estate headlines today as Hong Kong property agencies clear out dead wood as deals plunge amid a market slump.
In other news around the region, Softbank says WeWork Japan… Read More>>
Asia Real Estate People in the News 2019-11-04
In this week’s edition of Mingtiandi’s People in the News, the data centre arm of Sun Hung Kai Holdings makes a trio of boardroom appointments, while a Hong Kong-based tech company hires a tokenisation specialist as chief commercial officer…. Read More>>
Asia Real Estate People in the News 2019-10-28
In this week’s edition of People in the News, Davidson Kempner Capital Management hires a new Asia head of real estate, while France’s Groupe IDEC names an incoming Asia development director in Shanghai.
In other job changes around the region,… Read More>>
WeWork’s Shanghai Centres Said to Be 35% Vacant and More Asia Real Estate Headlines
A pair of Softbank ventures at different stages of the venture-fueled business arc lead Mingtiandi’s collection of real estate headlines today, as the FT reports that WeWork now has more than 15,000 empty desks in Shanghai alone. That struggle in… Read More>>
World’s Priciest Parking Spot Sells for $969K in Hong Kong and More Asia Real Estate Headlines
A world record parking space leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that logistics tycoon Johnny Cheung Shun-yee has sold a bay in a Hong Kong office tower for just under $1… Read More>>
Softbank Bails Out WeWork, Neumann at $7B Valuation
WeWork has proven to be a game-changing business – at least for deposed CEO Adam Neumann.
Under the terms of a bailout package put together by Softbank, the WeWork founder will be receiving around $1.7 billion in compensation in return… Read More>>
Oceanwide Halts Construction on San Francisco Tower and More Asia Real Estate Headlines
The backwash of China’s outbound real estate investment wave of a few years ago leads today’s collection of Asia real estate headlines as one of the mainland’s biggest investors in California property halts work on one of the two… Read More>>
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