China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

(From left) Wanda’s founder and chairman Wang Jianlin, Sunac China’s founder and chairman Sun Hongbin and R&F Properties’ Li Silian at their tripartite agreement to seal China’s largest real estate transaction, in Beijing on July 19, 2017. Photo: REUTERS/Jason Lee

Wanda, Sunac rope in R&F into China’s largest real estate transaction

Chinese magnate Wang Jianlin has roped in a business partner from Guangdong province to take 77 hotel assets off his hands, in a surprising 11th hour twist to the country’s largest real estate sale, as close regulatory scrutiny on the original buyer compelled initial plans to be scuttled.