…s in retail, property development, brand management, hospitality, and food and beverage. The group acquired La Rinascente, an Italian-based luxury department store operator, and Illum, a Danish department store chain, in 2011 and 2013 respectively….
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Causeway Bay Landlord May Evict La Perla After Lingerie Shop Skimps on $1.2M in Rent
…. After the high-end bra brand threw a star-studded party to open the five-storey flagship store across from the Times Square mall just over two years ago, La Perla’s landlord claimed in a writ filed to the High Court that the company failed to pay its rent for January and February. The company owned by Italian business celebrity Silvio Scaglia is said to have ignored repeated demands for payment, and was late in ponying up December’s rent, accord…
Convenience Stores Carp About Link REIT Rents and More Hong Kong Real Estate Headlines
…fice space going on the market in Tsim Sha Tsui, and there is much more in store for you, if you just keep reading. Convenience Store Circle K Says Link REIT’s Rents Are Too High Convenience Retail Asia, operator of Circle K stores and cake shop Saint Honore Cake Shop, says the rents in shopping malls owned by Link REIT have surged dramatically. Chief executive of Convenience Retail Richard Yeung Lap-bun said most shopping malls increased their re…
The $1B NYC Tower That Woulda, Coulda Been Wanda’s
…anhattan Wanda’s plans for New York included a five-star hotel, department store and condos (Rendering by Kohn Pedersen Fox via newyorkyimby.com) Although Wanda never closed on its planned acquisition of the New York site, the developer was confident enough of its prospects in the US at the time to commission a design for a 1,050 foot tower split between 240 hotel rooms, a department store and condominiums. Kohn Pedersen Fox, which also designed W…
Asia Real Estate People in the News 2018-04-16
…e and Kingsgate hotels. Jocelyn Hao has joined Starbucks Asia Pacific as a Store Development Director, based in the firm’s office in Wan Chai, Hong Kong. Before taking on the new challenge at the global coffeehouse chain, Hao worked at shoe brand Crocs in Singapore for two years as Regional Real Estate Director for APAC, the Middle East & Africa, in which role she was in charge of store network strategy and planning. The retail and real estate spe…
Blackstone Buys Arizona Biltmore from GIC for $403M and More Asia Real Estate Headlines
…iconic toy shop Hamleys is looking to seize a majority stake in department store chain House of Fraser. C.banner International Holdings has entered into a memorandum of understanding with House of Fraser owner Nanjing Xinjiekou Department Store over buying a 51pc slice of the retailer. House of Fraser is 89pc owned by Nanjing, a subsidiary of China’s Sanpower. Read more>> Baoneng Sells Off More of China Vanke Stake Baoneng Group has sold more Chin…
Hang Lung Outbids Alibaba to Win Hangzhou Commercial Site for RMB 10.7B
…mpeting retail projects, including the Hangzhou Tower, Hangzhou Department Store and ZheJiang Intime Department Store. As the only remaining large-scale site for commercial development in Hangzhou’s traditional commercial district, the plot “creates a strong synergy effect with Hang Lung’s flagship projects in Shanghai and Wuxi, and injects new energy into the commercial landscape of the area,” the developer said. Hang Lung Ramps Up Mainland Devel…
Shop in Suburban Hong Kong Mall Sells for Over US$28K Per Square Foot
…owner plans to merge the clothing shop with the neighbouring mobile phone store As property prices in Hong Kong continue to surge, even 20 square metre shops 17 kilometres from downtown are trading at record prices as the world-leading rates from Hong Kong island are pulling up markets more than half an hour’s train ride away in the New Territories. While Causeway Bay continually ranks as one of the world’s most expensive places to establish a re…
Jin Jiang Said Weighing Bid for HNA’s Radisson Hotels and More Asia Real Estate Headlines
…obal buying spree, adding to concerns over the future of the UK department store House of Fraser, which it bought in 2014. The Nanjing-based real estate and department store group, controlled by chairman Yuan Yafei, began buying overseas assets four years ago, in a streak that included House of Fraser, Israeli healthcare group Natali and US pharmaceutical company Dendreon, backed by debt. Read more>> Profit Falls 75% at Perennial Real Estate in 20…
Wanda Said to Sell Chicago, LA Projects to Close Out Overseas Portfolio
…posing of Chicago, LA Prizes Wanda’s Chicago project plans called for a 89-storey skyscraper, appropriately named Vista Tower, that would include 240 luxury hotel rooms, as well as apartments and commercial space. The tower broke ground at 363 E. Wacker Drive in late 2016 and was slated to open in 2020. But in January this year, the group began taking offers for its 60 percent stake in the $900 million under-construction development. The $1.2 bill…
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