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HNA Group confirmed today that it has sold a majority stake in a Manhattan office building, as the financially-hobbled mainland conglomerate races to sell assets and raise cash. The parent company of China’s Hainan Airlines said that it had sold its 90 percent stake in 850 Third Avenue in New York in a deal which, according to an account in US website Bisnow, is valued at $422 million. The disposal comes less than two and a half years after HNA had acquired the same asset in a $463 million transaction, and follows US government scrutiny of the Chinese firm’s ownership of a building which houses the police precinct that protects Trump Tower. The buyer of the 617,000 square...

ရန္ကုန္ၿမိဳ႕လယ္တြင္ စတင္ဖြင့္လွစ္လိုက္ၿပီျဖစ္ေသာ Naing Group Sule Tower (II) ရွိ ကြန္ဒိုအခန္းမ်ားအား ႏိုင္ငံျခားသားမ်ားအေနျဖင့္ ႏွစ္ရွည္ငွားရမ္းေနထိုင္ရန္ စိတ္ဝင္စားလ်က္ရွိေၾကာင္း သိရသည္။ ရန္ကုန္ၿမိဳ႕လယ္ အခ်က္အခ်ာက်သည့္ ဆူးေလဘုရားလမ္းႏွင့္...

Singapore’s CapitaLand announced on Tuesday that its Raffles City China Investment Partners III (RCCIP III) fund has formed a 50:50 joint venture with Singapore’s sovereign wealth fund GIC to acquire the Star Harbour International Center project (上海星外滩) project in Shanghai’s Hongkou district for RMB 12.8 billion (about $1.85 billion). The announcement ended a month of speculation regarding the potential acquisition of the 1.5 million square metre (16 million square foot) project after Mingtiandi first reported the potential purchase from Shanghai Port Group in October. The project, which is currently nearing completion and which CapitaLand indicated will be...

The mainland’s largest developer by sales in 2017, China Evergrande Group, is resorting to pawning its most valuable offshore asset in an effort to raise $1.5 billion to pay down its debt and make dividend payments, according to a Reuters report citing unidentified sources familiar with the matter. Although the company’s high-profile billionaire chairman Xu Jiayin was freshly crowned China’s wealthiest real estate person for the second year in a row with assets estimated at RMB 215 billion ($31 billion), Evergrande is resorting to borrowing money against its equity in the China Evergrande Centre in Hong Kong’s Wan Chai district as slowing home sales and tightening...

Ms Soon is heading up development of a sprawling district covering more than 16.7 hectares. The plan is for five office towers, including one of the city's tallest, as well as shopping malls, hotels and apartments. That represents a bold bet on Bangkok becoming a global metropolis. "We all believe in the potential of Bangkok to be a global city within the next decade," Ms Soon said. "It's well-placed - we are the gateway to Cambodia, Laos, Myanmar and Vietnam, a region that has growth potential in the coming decades." One Bangkok broke ground in March and the first phase is due to open in 2022, with the rest complete possibly around 2025 depending on demand. The project is a joint...

Chinese conglomerate and property heavyweight China Poly Group Corporation has hired Australia-listed construction company Watpac to begin construction of its A$300 million office tower in central Sydney, according to the Australian local media. Located on 210-220 George St along the city’s iconic Circular Quay, the project is Poly’s first commercial development in Australia, and the construction agreement comes more than two years after the company purchased a pair of aging office towers on the site for A$160 million. The A-grade development, designed by London-based architecture firm Grimshaw, aims to be on a par with AMP Capital’s nearby Quay Quarter Tower and with...

Debt-ridden Chinese conglomerate HNA Group Co. is in talks to sell Manhattan’s 850 Third Ave. — a building under scrutiny by the U.S. government because of its proximity to Trump Tower — to a New York-based real estate company, according to people with knowledge of the matter. The transaction with B&L Management Co. values the 21-story building at $452 million and would cause HNA to realize a loss, according to the people, who asked not to be identified because the talks aren’t public. A contract has yet to be signed, and no deposit has been made, the people said. HNA owns 90 percent of the building, with minority partners MHP Real Estate Services and Atco...

His claim about the Trump International Hotel and Tower in Chicago didn’t go over well. Tweeters couldn’t resist teasing Eric Trump after he called the Trump International Hotel and Tower in Chicago “one of the most beautiful buildings in the world.” President Donald Trump’s son made the wild boast about the skyscraper on Twitter Tuesday: The majority of respondents disagreed with Trump’s claim, and some suggested alternative edifices that were more worthy of the accolade, such as India’s Taj Mahal or St. Basil’s Cathedral in Moscow: Drewsaa wrote: Views of an Englishman - Yeah.....that Taj Mahal, St Basils Cathedral, Milan Cathedral...

Merdeka PNB 118 tower, which is set to break the Petronas Twin Towers’ longstanding record as Malaysia’s tallest structures, has now reaching up to 30 floors as of 3 August 2018. With the total of 118 floors, this tower is moving smoothly and promisingly in the heart of KL which was once a place to announce the independence day of Malaysia in 1957 - The Merdeka Stadium. Critics have derided PNB 118, a project of the state-run fund management company Permodalan Nasional Berhad (PNB) and launched under former Prime Minister Najib Razak, as wasteful and extravagant. Merdeka PNB 118 is high 644 m while the Petronas Twin Towers held the record as the world's tallest...

ျမန္မာႏုိင္ငံ၏ အိမ္ၿခံေျမ ေစ်းကြက္အတြင္းႏုိင္ငံျခား ရင္းႏွီးျမွဳပ္ႏွံမႈမ်ားေၾကာင့္ ယခုႏွစ္အတြင္း Office Tower ငွားရမ္းမႈမ်ား ျပန္လည္ျမင့္တက္လာမည္ျဖစ္ေၾကာင္း Collier International Myanmar ၏ Deputy Managing Director မွ ေျပာၾကားေၾကာင္း သိရသည္။ ၂ဝ၁၂ ခုႏွစ္မွ စတင္၍ ၂ဝ၁၄ ခုနွစ္အထိဝယ္လိုအား...