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Chinese Property News

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Failure to close

Blackstone’s deal for SOHO China collapses
Sep 17, 2021 (WiC 556)

Anyone for tennis? At the women’s final of the US Open last weekend the cameras zoomed in on well-heeled spectators in the premium seats. Sitting alongside former player Andy Roddick and TV personality Gayle King, state broadcaster CCTV picked ...

Evergrande in frenetic race to avoid default
Sep 10, 2021 (WiC 555)

The advice from Alcoholics Anonymous is that admitting you have a problem is the first step towards recovery. Evergrande, one of China’s biggest home builders, is battling a different addiction, after admitting for the first time that it will ...

Race for survival

Evergrande founder steps down from China unit
Aug 20, 2021 (WiC 552)

Five years ago the speculation was that China Evergrande was readying a hostile takeover bid for Vanke, a rival Guangdong-based developer. Stock exchange filings showed that the property conglomerate had built up a 14% stake by snapping up Vanke ...

Confidence crisis?

Fears over property giant Evergrande worsen
Jul 23, 2021 (WiC 550)

According to a Chinese idiom, ‘good fortune doesn’t come twice but bad luck rarely hits once’. Shareholders of China Evergrande have found that out again this week. The week began with news of Chen Feng, deputy general manager of the ...

Ping An makes year’s biggest property purchase
Jul 9, 2021 (WiC 548)

“New leaders should burn three fires,” proclaims the Chinese idiom, advising clear and decisive action when taking on a new role. In that context it should come as less of a surprise that just a few months after Ping An Insurance hired Lu ...

Air-con giant rewards top staff with houses
Jul 2, 2021 (WiC 547)

Because of soaring prices, homes in parts of San Francisco’s Bay Area have moved beyond the reach of low-to-middle-income families. Silicon Valley often gets the blame for minting a new generation of wealthier buyers. Tech giants have responded ...

SOHO China founders sell control to Blackstone
Jun 18, 2021 (WiC 545)

There’s a Chinese idiom that says ‘a good horse doesn’t return to old pastures’. The old adage suggests that a person should always look ahead and forge a new path instead of going back to where he or she has been before. SOHO China ...

Evergrande vows to cut debt amid new probe
Jun 11, 2021 (WiC 544)

He made his name in Guangdong province, but it’s Liaoning’s provincial capital Shenyang that’s shaking the foundations of Xu Jiayin’s sprawling and heavily indebted empire. The group has been under pressure since last September when ...

Business is in the Liu DNA

Stock market return for New Hope boss as property management unit lists
Jun 4, 2021 (WiC 543)

The Liu brothers from Sichuan – Yongxin, Yonghao, Yongyan and Yongmei (who is also known as Chen Yuxin) – topped Forbes magazine’s first China Rich List in 1995 with a combined wealth of Rmb600 million, or about $165 million in today’s ...

Shenzhen’s surreal estate

Why are property agents using fruit to denote home prices?
Jun 4, 2021 (WiC 543)

Remember those elementary maths problems at school that you solved using fruits instead of numbers? Homebuyers in Shenzhen are having to resort to something similar to work out how much a property is worth. A recent listing by a property agent ...

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