HK billionaire sells 20.4b yuan of mainland projects to Evergrande
Shanghai
EVERGRANDE Real Estate Group will buy 20.4 billion yuan (S$4.4 billion) of projects in China from Hong Kong billionaire Cheng Yu-Tung's family-controlled companies, extending an acquisition spree by the Chinese developer this year.
New World China Land agreed to sell property in the Chinese cities of Guiyang and Chengdu for 7.3 billion yuan, Hong Kong-based New World China Land said in a statement on Tuesday. In a separate statement, Evergrande said it will pay 13.1 billion yuan to buy five developments from Chow Tai Fook Enterprises, also controlled by the Cheng family.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
More homes planned in Media Circle to support housing demand
Country Garden deadlines pose first big test of bond guarantees
Global housing shortages are crushing immigration-fuelled growth
Australia’s housing rent hits record high in headache for RBA
GuocoLand taps X factor to help tenants pull workers to offices amid hybrid work
After S$160 million makeover, SingLand eyes better take-up, higher rents at Singapore Land Tower