…easures in the near term, Tang said. The Chinese government is handing out online shopping vouchers to consumers and this will boost online spending and increase the take up rate of logistics space by e-commerce companies, she added. The rapid growth in online consumption will have a huge impact on logistics developers as e-commerce companies typically require three times more warehouse space than traditional retailers, Jeffrey Perlman, managing d…
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Wanda Joining Tencent and Baidu in RMB 5B Ecommerce Deal
…Global Times. Wang’s decision comes as many retailers are seeking to find online approaches to drive more traffic to their bricks-and-mortar stores, and as many mall operators, particularly in Wanda’s mid-to-low tier bracket, are reporting fewer customers due at least in part to competition from ecommerce. Uniting China’s Big Three Billionaires The cooperative venture between Wanda, Baidu and Tencent brings together what are said to be China’s th…
Link REIT Revenues Rise 5.6% Despite Protests and Pandemic in Hong Kong
…cross Link REIT’s portfolio, a shift attributable in part to the switch to online shopping. While the shift to buying online looks set to continue, analysts see the trust’s properties scattered among Hong Kong’s housing estates as more resistant to online competitors in providing household necessities. “There is no magic recipe for improvement for Link REIT, but given their profile they are well positioned to continue delivering good quality local…
Alibaba Helps Greenland to Crowdfund RMB200M for New Projects
…nancial services to other companies hoping to raise money on the Internet. Online Finance Increasingly Popular in China By funding its projects online, Greenland is riding a wave of consumer demand for better investment opportunities in China’s under-developed wealth management market. Services such as Ant Financial’s Yu’e Bao, which offer higher yielding asset investments to individual online investors, have rapidly gained favor with Chinese cons…
Mainland Retail Begins Designing for Data: China Mall 2020
…er preferences and refine their retail processes in much the same way that online merchants have. “The central responsibility of the retailer, whether it’s an online retailer or an offline retailer or an omnichannel retailer, is to really understand what that customer journey is,” David Ketchum, CEO of digital marketing consultancy Current Asia. “There’s an amazing toy chest of technologies and platforms and media but at the centre of all of this…
Tencent-Backed Real Estate Website Anjuke Applies for Hong Kong IPO
…real estate industry with the internet. Turning Listings to Gold Anjuke’s online property listing platform is the largest in China by mobile monthly active users, recording an average mobile MAU of 67 million in the fourth quarter, while its online marketing platform for new and existing properties is the largest by revenue, the company said, citing information from consulting group iResearch. Yao Jinbo thinks its time for Anjuke to test the mark…
Singapore’s Suntec City Hopes to Hook Up With 3 Mil Mainland Visitors Via Jack Ma’s Alipay
…the deal, an Alipay payment option will gradually be made available to the online transaction platform’s 520 million users who visit Suntec City’s 350 stores, with payment terminals set to be in place in around 60 percent of the stores by July. The Ant Financial system is estimated to command around 50 percent of mainland China’s online payment market. “We are delighted to partner Alipay to offer our Chinese shoppers a seamless payment system that…
Making a Map for a Digital Real Estate Future Sponsored Feature
…Devine said. After having helped scores of Asian real estate companies go online, the 25-year property industry veteran sees more adoption of online systems as companies increasingly compete in a region where investment yields are compressing and capital values are rising. Know Where You Are to See Where You Can Go For those companies that have already put aside the batteries of spreadsheets on shared drives, and emailing attachments around the n…
Ctrip Pushes Out Tujia Founder Luo Jun as CEO of China’s Airbnb
…’s booking volume grew further in 2018 as it reached more than 1.2 million online listings around the world. The company said its daily room nights reached 160,000 last year, the highest in China’s short-term property rental sector. According to the local media, Luo Jun and Tujia’s founding team have not been involved in the company’s online business for some time as the founder and serial entrepreneur switched his focus to Sweetome. In October 20…
Asia Real Estate People in the News 2021-05-15
…lm at the company controlling the mainland outlets of New World Department store as his father, Henry Cheng, resigns from the company, the company told the Hong Kong exchange. As part of a wholesale board reshuffle at the retailer, CEO Philip Cheung has been redesignated as co-CEO as 20-year New World Department Store China veteran Mandy Xie was elevated to become co-CEO as well as an executive director on the company’s board. Gavin Norris has joi…
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