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SoftBank eyes control of WeWork; Sunac buys 4B-yuan project from CK Asset

* SoftBank Group Corp. would invest several billion dollars in new equity and debt in WeWork Cos Inc., becoming the latest funding option for the coworking space operator, which is under pressure to raise new financing, The Wall Street Journal reported, citing people familiar with the matter. If Softbank's proposal is pursued, much of the voting power of WeWork founder Adam Neumann will be transferred to the Japanese conglomerate, which will effectively take control of the coworking giant, the unnamed sources noted.

* WeWork's Singapore arm intends to proceed with its planned expansion to add three new locations in the city-state by end-2019, while its parent company seeks new financing, The (Singapore) Business Times reported.

* CK Asset Holdings Ltd. sold a property development project in Dalian, China, to Sunac China Holdings Ltd. for more than 4 billion yuan, Caixin reported, citing a representative for the vendor. The property, spanning 142,900 square meters, will be developed into residential, office and retail uses.

Australia

* Villa World Ltd. shareholders approved the company's plan to merge with Avid Property Group Australia Pty. Ltd. The A$2.345-per-share scheme, which values Villa World at roughly A$293.5 million, will require an approval of the Supreme Court of New South Wales and is expected to take effect Oct. 30, according to a news release.

Greater China

* Xinyuan Real Estate Co. Ltd. listed its property management business on the Hong Kong Stock Exchange. The company, Xinyuan Property Management Service (Cayman) Ltd., issued 25% of its outstanding shares at HK$2.08 apiece in an IPO, valuing the company at HK$1.04 billion.

* U.K.-based fund manager Actis acquired a majority stake in China-focused data center specialist Chayora Holdings Ltd. for US$180 million, Mingtiandi reported, citing a person close to the deal. Chayora will use the investment to develop a pair of hyperscale facilities in its 2.3 million-square-foot campus southeast of Beijing, according to the news platform.

* Poly Property Group Co. Ltd. bought a 69,331-square-meter mixed-use land parcel in Wenzhou, China, for 3.68 billion yuan, Guandian reported. The development site will be used primarily for residential purposes but will also have spaces allocated for commercial, business and restaurant uses.

* Dalian Wanda Group Co. Ltd. purchased three land plots in Shenyang, China, for a sum of 1.77 billion yuan, Caijing reported. The properties provide a total of 271,883 square meters for residential use and 60,435 square meters for commercial and retail purposes.

* Sino-Ocean Group Holding Ltd.'s contracted sales for the nine months ended Sept. 30 increased 26% year over year to about 88.92 billion yuan, with its nine-month contracted gross floor sales area amounting to approximately 4,378,100 square meters.

* Hysan Development Co. Ltd.'s Hysan (MTN) Ltd. filed an application with the Hong Kong Stock Exchange for the listing of a US$2.50 billion medium-term note program within a year from Oct. 11.

Singapore

* Tuan Sing Holdings Ltd.'s Superluck Properties Pte. Ltd. subsidiary established a S$500 million multicurrency medium-term note program. The notes will be guaranteed by a mortgage over Superluck's properties at 18 Robinson Road and Far East Finance Building at 14 Robinson Rd., the diversified property company noted in a news release.

The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Aries Poon and Emily Lai contributed to this report.