Wanda posts first sales decline in 11 years
Hong Kong
DALIAN Wanda Group Co's revenue fell for the first time in at least 11 years after a slump in its property business outweighed growth from entertainment operations at billionaire Wang Jianlin's conglomerate.
Sales, which include property-contracted sales, declined 14 per cent in 2016 from a year earlier, according to a Wanda statement on Saturday, more than a January 2016 forecast of a 12 per cent drop. Revenue at Dalian Wanda Commercial Properties Co, the group's real-estate unit, declined 25 per cent to 143 billion yuan (S$29.6 billion).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%