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Chinese Property News

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As casino boom fades will Macau’s property market also stall?
Jan 30, 2015 (WiC 268)

Forget its replica of the Eiffel Tower or the fake San Luca canal. For evidence that Macau was booming, you only needed to look at the price of a humble car parking space. Last year the cost of spaces jumped 30% to as much as $350,000 each, ...

Wanda courts new funding a month after IPO
Jan 23, 2015 (WiC 267)

You know life is tough for China’s property firms when big name developers make plain they want to get out of real estate. A prime case is Dalian Wanda which recently announced plans to lower the revenue contribution from property to less than ...

Is Li Ka-shing reconfiguring his empire or withdrawing from Hong Kong?
Jan 16, 2015 (WiC 266)

Not many investors dare to bet against Hong Kong’s richest man, Li Ka-shing. “You never question Superman’s acumen to time the market,” warns Cho Yan-chiu, a respected Hong Kong commentator who helped to popularise Li’s superhero ...

Kwok’s dim sums

Will Kaisa become first property firm to default on an offshore bond?
Jan 9, 2015 (WiC 265)

For Agile’s investors, Chen Zhuolin’s release was a timely gift from Santa. After two months of house arrest, which led to speculation that the chairman of the real estate developer was being investigated for graft, Chen was released in ...

China finally readies rules for property registry
Jan 9, 2015 (WiC 265)

In 2011, China’s (then) security tsar Zhou Yongkang called for the creation of a database containing information on each of China’s 1.3 billion residents in an effort to improve “social management” (a government euphemism for its efforts ...

A leading landlord

Will Wanda’s IPO make it China’s most valuable real estate firm?
Dec 12, 2014 (WiC 264)

Two months ago, he lost his crown as China’s richest man. But Dalian Wanda’s Wang Jianlin hopes to regain some lustre later this month by completing Hong Kong’s largest IPO of the year. Slipping down the Forbes China rankings to fourth ...

Local government seeks fix for ‘ghost town’
Dec 5, 2014 (WiC 263)

To call Erdos China’s most famous “ghost city” isn’t an understatement. When Darmon Richter, author of the Bohemian Blog, toured the town in Inner Mongolia last year, he found plenty of vacant skyscrapers and empty streets. Hardly anyone ...

Greentown’s former owner is in dispute with its buyer Sunac
Nov 28, 2014 (WiC 262)

It is notoriously difficult for entrepreneurs to let go of the companies they build. Take Bill Gates. He relinquished his role as Microsoft’s chief executive in 2000, giving the CEO mantle to Steve Ballmer, his best friend and right-hand man of ...

Diverse culture

Evergrande buys media firm
Nov 28, 2014 (WiC 262)

Sometime around 2008, Albert Yeung, a Hong Kong businessman who owns entertainment-to-property firm Emperor Group, brought Evergrande boss Xu Jiayin to meet Hong Kong real estate tycoon Cheng Yu-tong, who also controls Chow Tai Fook, the ...

Tale of two towers

Tycoon talks up Guangzhou’s newest skyscraper
Nov 7, 2014 (WiC 259)

A year ago Hong Kong property kingpin Li Ka-shing surprised industry onlookers by offloading two of his commercial projects in Shanghai and Guangzhou. Li explained that it was time to sell because “the flour had become more expensive than ...

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