Evergrande Real Estate Group last week announced plans to set up a cosmetic surgery business in a special economic zone on China’s Boao island as the giant property developer continues to branch out into new business areas.
At an event… Read More>>
Fitch Dings Evergrande for High Leverage Levels
China real estate developer Guangzhou Evergrande was singled out by credit agency Fitch Ratings this month for its high levels of leverage and aggressive sales forecast, as lenders begin to look more closely at the risks facing Chinese property companies.
Evergrande Boss’ Sydney Mansion Caught in Aussie Crackdown
The billionaire owner of China’s Evergrande real estate bought one of the poshest homes in Sydney last year for A$39 million ($30.5 million). But now Xu Jiayin, who also owns Guangzhou Evergrande football club, has 90 days to sell off… Read More>>
Guangzhou Evergrande Buys Historic Resort in Canada
While many of China’s biggest property developers have been acquiring assets in global gateways such as Los Angeles or New York, Xu Jiayin, the chairman of Evergrande Real Estate Group has headed further north by purchasing a historic railway hotel in… Read More>>
Evergrande Boss Buys Sydney Home for $33.4M
Xu Jiayin, the chairman of Chinese real estate developer Evergrande, was revealed this week as the buyer of a A$39 million (US$33.4 million) mansion in one of Sydney’s most exclusive neighborhoods following a record-setting transaction.
The purchase by the flamboyant… Read More>>
Evergrande Bites into China’s Food Business as Property Slows
Evergrande Group, one of China’s biggest real estate developers, launched three new agribusiness subsidiaries on Monday, as the slowdown in the country’s housing market sends property firms searching for new profit centres.
Evergrande’s new ventures into grain and vegetable oil,… Read More>>
Half of China’s Real Estate Royalty Drop Out of 100 Richest Families
While China’s real estate downturn has yet to create the kind of distress seen in the US in 2008, it still is taking a toll on the fortunes of the country’s commercial kings and queens, according to Fortune magazine.
In… Read More>>
Market Puzzled By Evergrande’s $877M Share Buyback Scheme
A recent US$877 million share buy-back by real estate developer Guangzhou Evergrande has market observers puzzled regarding the Hong Kong-listed firm’s financial strategy.
The shares were purchased by the developer over a two week period this month, and amount to 6.33 percent of the company’s total stock. This move follows soon after an unexpected RMB 2.3 billion (US$378 million) special dividend that the company paid to shareholders in November.
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…
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