…000, and the company will only retain functional departments, state-backed online news outlet The Paper quoted a source as saying yesterday. Read more>> HNA Borrows $500M Against Hilton Stake Debt-laden Chinese conglomerate HNA Group Co. used another one of its most valuable assets to borrow more cash for the third time this month, increasing the size of a loan backed by its ownership in the Hilton hotel chain. HNA, which owns a roughly 25% stake…
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New World’s K11 Invests $10M in AI Startup and More Asia Real Estate Headlines
…hich controls Thailand’s biggest operator of shopping malls and department stores, expects online sales to account for as much as 15 percent of its revenue in five years, from 2 percent now. Read more>> SG’s Yangkee Logistics Completes NZ Acquisition Singapore-based Yang Kee Logistics has completed the S$52.1-million ($39 million) acquisition of New Zealand Exchange listed global supply chain service provider Fliway Group Ltd. This allows the Sing…
Vanke Opens Senior Care Project in Beijing and More Asia Real Estate Headlines
…shut its website and mobile app to Chinese residents after circulating an online guest survey that listed Hong Kong, Taiwan, Tibet and Macau—all claimed by China—as separate countries. In a statement posted on its official social media account on Thursday evening, the Shanghai office of China’s Cyberspace Administration said it demanded that Marriott suspend operation of its Chinese website and the Chinese version of its smartphone app for the ne…
Beijing Wall’s Downfall Prompts China Housing Policy Debate
…10,835) per square metre. On the other side of the wall (which was later restored), units for non-investment purposes are sold at around RMB 22,000 per square metre. Housing for non-investment purposes is a regulatory category in Beijing. In order to acquire land, property developers have been required for the last two years to build these subsidised units together with more upscale commercial units in the same community as part of the government’…
Alibaba Makes Make-Up Shoppers Smarter With Virtual Reality Dressing Room in Hangzhou
…first of its HEMA tech-enabled supermarkets in its home city of Hangzhou in December, while outlining a plan to open 2,000 of the online-integrated grocery stores….
Logistics Takes Off in Vietnam as E-Commerce Booms: MTD TV Asia Logistics Forum 2021
…as a key beneficiary of the movement. Perhaps more than anything else, the online shopping revolution is creating demand for a warehouse network to serve the country’s estimated population of 98 million. “Five out of the top 10 most-visited e-commerce sites in Southeast Asia were Vietnamese sites in the year 2020,” Kwak said, citing research by online shopping aggregator iPrice. Short Turnaround Time Kwak gave the example of Singapore-based Shopee…
LaSalle Set to Open Five New China Logistics Facilities in 2020
…siness district. LaSalle is also constructing a 97,000 square metre single-storey warehouse with cross-docking facilities 15 kilometres from the centre of Chongqing in southwestern China, while a 68,000 square metre shed, also with cross-docking, is being built on a site four kilometres from Xi’an Airport in the capital of Shaanxi province. Maintaining the Logistics Momentum The launch of the new developments comes two months after LaSalle opened…
Alibaba Expands Offline Empire With RMB 5.5B Investment In Furniture Retailer
…reports. The retailer plans to put that new cash to work opening over 100 stores, with a fresh focus on moving beyond top urban centres into fourth and fifth tier cities. Easyhome its fleet of big box stores to reach more than 600 by 2022. Founded in 1999, the furniture retailer is also involved in interior design, refurbishment and furniture materials supply. Coffee Tables, Big Data and Hypermarkets Alibaba’s furniture deal comes during the same…
Savills Launches Co-Working Brokerage Platform Workthere in Singapore
…tres and counting, and now property brokerage Savills is rolling out a new online platform to help fast-growing businesses cut through that thicket of options to find the space of their dreams. The platform, Workthere, was launched in the UK in February of last year and is currently being introduced across several European countries. The brokerage service and listing website allows co-working and serviced office providers to let their spaces, and…
$1.7B Land Auction Postponed By Hong Kong Protests and More Asia Real Estate Headlines
…res, according to a joint release issued on Thursday (Jun 13). Read more>> Online Listings Fang.com Completes Spin-off of China Index Holdings Online real estate portal Fang.com announced that it has successfully separated its subsidiary – China Index Holdings (CIH) – to create two independent, publicly traded companies with “different objectives and opportunities”. In a statement, Fang said the separation was done via a dividend distribution of a…
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