Dajia Insurance in China plans to sell hotels in the United States


The Four Seasons Hotels in Jackson Hole, Wyoming

The successor to China’s Anbang Insurance tops the region’s headlines list as the public finance company seeks an opportunity to sell part of a portfolio of luxury hotels. Also in the news, Shanghai and Beijing complete major land sales, Country Garden saw its sales fall by more than half in May, and Singapore’s ESR-Logos REIT completes a $109 million fundraising round.

The Chinese Dajia weighs 1 billion dollars in the sale of 3 luxury hotels in the United States

Beijing-based Dajia Insurance Group is considering selling off some of its luxury hotels, seeking to take advantage of growing travel demand even as rising interest rates make financing real estate transactions more expensive.

Dajia, which has taken over most of the operations of Chinese insurance group Anbang, is bringing in advisers for a potential transaction, people familiar with the process said. Hotels that could be sold include the Montage Laguna Beach resorts in California and Four Seasons in Jackson Hole, Wyoming and Scottsdale, Arizona – a trio of properties that could fetch more than $1 billion, one of the people said. Learn more>>

1st Shanghai Land Auction in 2022 Bags $7.4 Billion

Shanghai’s first land auction of 2022 generated a deal value of nearly RMB 49.6 billion ($7.4 billion) as developers snapped up 20 of the 36 housing sites on offer.

A site on Xietu Road in Xuhui District was the most competitively bid as it sold for 9.6% above auction reserve prices and a project in the Changfeng area of Putuo district sold for the highest price at RMB 6.4 billion. Learn more>>

Beijing pockets $7.4 billion from 2nd land auction of 2022

The second land sale of the year in Beijing secured 49.9 billion RMB ($7.4 billion) for the local government with an average premium of 5.4 percent, according to the latest auction data.

Of the 14 plots of land sold, seven were highly contested, with bidding rates reaching up to 15% above auction reserve prices. Bidding for land in Fengtai district, south of the capital, was so heated that it had to be determined by lottery after the price reached the upper limit. The other seven parcels changed hands at their starting price and three remained unsold. Learn more>>

Sales contracted in May of Country Garden in the first half of 2021

Country Garden Holdings’ unaudited contract sales in May fell 50% year-on-year to RMB28.71 billion ($4.31 billion), from RMB57.38 billion in 2021 .

According to GFA, the group’s contracted sales gross floor area attributable to shareholders decreased over the comparable period to approximately 3.57 million square meters (38,427,160.19 square feet), according to a publication on Thursday. Learn more>>

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ESR-LOGOS REIT values ​​securities offering at $109.4 million

ESR-LOGOS REIT’s manager, ESR-LOGOS Funds Management, has initiated and priced a 150 million Singapore dollar ($109.4 million) offering of 5.50% subordinated perpetual securities at 100 % of its principal amount.

The securities have no fixed final redemption date and will be drawn from the company’s S$750 million multi-currency debt issuance program, according to a June 2 filing. Learn more>>

Analysts predict an acceleration in sales for Chinese developers in the third quarter

Chinese developers are expected to ramp up project launches in the third quarter and keep prices competitive after most hit less than 30% of their annual sales targets by the end of May, industry experts said.

Most builders were behind on their annual targets, the China Real Estate Information Corporation (CRIC), one of mainland China’s largest property brokers, said on Wednesday. Learn more>>

S&P expects monetary policy easing to boost demand for mortgages in China

According to S&P Market Intelligence, China’s easing of property regulations to help property buyers and developers is expected to boost demand for mortgages.

The government has eased mortgage costs by cutting interest rates, relaxed some rules on second home ownership and urged banks to lend more to buyers. Learn more>>

Hong Kong home sales hit 10-month high in May

Hong Kong’s property market gained momentum in May, with transactions hitting a 10-month high, building on previous month’s gains as buyers returned after the fifth wave of COVID-19 was brought under control .

The total number of transactions, including residential, commercial and industrial properties as well as parking spaces, rose 63.8% month-on-month to 7,949 in May, according to Land Registry data. It was also the highest total since 9,957 deals were completed in July 2021. Learn more>>

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