Property « Week In China

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Property

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A top official predicts the bankruptcy of 64,000 Chinese property firms
Aug 2, 2019 (WiC 462)

Simon Yam is arguably Hong Kong’s most prolific actor. With credits in 234 movies, the 64 year-old has starred in a wide range of roles spanning mafia boss, police inspector and serial killer. Some of these parts have seen his character ...

Hong Kong investors turn to GBA car parks
Aug 2, 2019 (WiC 462)

Many Hongkongers who ‘dream’ of owning their own home believe that it will remain a dream following a tripling of house prices over the past decade. Only this month, a buyer paid HK$5.26 million ($674,000) for a tiny 598 square foot flat in ...

Property baron detained in child sex abuse case
Jul 12, 2019 (WiC 459)

Last week, one of the most widely circulated weibo posts began: “Using Shanghai’s garbage-sorting system [for more on this topic, see WiC458], which category does Wang Zhenhua belong to?” The punchline: “You are insulting the ...

Wang Jianlin makes a comeback in football – and in property development
May 10, 2019 (WiC 451)

Before Jia Yueting boarded a flight to the US in July 2017 the founder of troubled tech firm LeEco wrote on his weibo that he was off for a short business trip. He told his social media followers he would be back “next week”. That turned ...

Half price homes in Hohhot for those with the requisite ‘talent’
May 3, 2019 (WiC 450)

To attract the best employees, tech companies have showered their staff with perks like concierge services, massages and gourmet canteens. Companies like Facebook and Google are now tackling a bigger complaint from their workforces – not being ...

Graft scandal embroils Tahoe
May 3, 2019 (WiC 450)

Property developers in China have at least one strategy in common: they all want to forge good relationships with the local governments where they operate. Tahoe Group was typical in what is termed locally as guanxi management (i.e. ...

SOHO China has issues with a feng shui blogger
Apr 5, 2019 (WiC 447)

Suing bloggers over their metaphysical musings might sound like an April Fool’s joke story to some newspaper readers, but for Pan Shiyi, the chairman of SOHO China, it’s no laughing matter. The property firm has just filed a law suit ...

Bytedance buys cursed mall; JD an old hotel
Mar 1, 2019 (WiC 442)

A Red Guard; a poet and philanthropist; even a mountain trekker. But Huang Nubo, founder of Beijing Zhongkun, was best known as a property developer with a taste for resort projects, including a failed bid to build a $200 million resort in ...

What’s left of Wanda after a year of brutal deleveraging?
Jan 25, 2019 (WiC 438)

The month of January is so-called ‘nianhui season’ in China. Meaning ‘annual conference’, larger corporates hold company dinners with staff and shareholders to round off the previous year’s work. They are often followed by a ...

A fresh row in Hong Kong over how to raise the supply of new housing
Nov 16, 2018 (WiC 432)

Many of the street names in Hong Kong are a legacy from the colonial era. Some tell the stories of the territory’s earlier geography as well. Ferry Street and Bonham Strand are nowhere near the harbour, as their names suggest, with both ...

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