https://www.scmp.com/rss/60474/feed The latest news, analysis and opinion on Shui On Land. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Hong Kong-listed developer Shui On Land said it had resolved owners’ complaints at Optics Valley Innovation Tiandi, its joint venture flagship mixed-used development in Wuhan in central China. Some owners of flats at Wuhan Optics Valley, which is part of the mixed-use development’s second phase, complained of “cracks and leaks” caused by poor workmanship, substandard materials and discrepancies between blueprints and actual features, according to a letter sent by a representative. The letter was... https://www.scmp.com/business/article/3165800/hong-kong-listed-developer-shui-land-says-it-has-resolved-flat-owners?utm_source=rss_feed https://www.scmp.com/business/article/3165800/hong-kong-listed-developer-shui-land-says-it-has-resolved-flat-owners?utm_source=rss_feed Fri, 04 Feb 2022 05:36:43 +0000 Hong Kong’s biggest developers continue to buy prime land sites in top-tier cities in mainland China, as they take advantage of the general malaise among competitors that are struggling to survive an unprecedented debt load in the industry. Kerry Properties, controlled by the Malaysian billionaire Robert Kuok, paid 13.3 billion yuan (US$2.1 billion) for four plots of mixed-use land in Shanghai during the municipal government’s first auction of the year on January 4. It plans to turn the site... https://www.scmp.com/business/article/3162930/kerry-properties-becomes-latest-hong-kong-developer-make-huge-land?utm_source=rss_feed https://www.scmp.com/business/article/3162930/kerry-properties-becomes-latest-hong-kong-developer-make-huge-land?utm_source=rss_feed Tue, 11 Jan 2022 23:30:21 +0000 Cash-rich Hong Kong companies are increasingly snapping up prime land on the mainland, which used to be few and far between until recently, as their Chinese rivals weighed down by debtavoid taking part in land sales. Shui On Land, the flagship property company of the Hong Kong-based Shui On Group, bought three residential parcels in Wuhan, the capital of Hubei province for some 17 billion yuan (US$2.67 billion), according to an exchange filing on Tuesday. The Shanghai-headquartered developer... https://www.scmp.com/business/article/3160623/shui-land-cashes-opportunity-build-land-bank-china-amid-depressed-buying?utm_source=rss_feed https://www.scmp.com/business/article/3160623/shui-land-cashes-opportunity-build-land-bank-china-amid-depressed-buying?utm_source=rss_feed Wed, 22 Dec 2021 02:19:07 +0000 Hong Kong’s pipeline for initial public offerings (IPOs) is starting to fill up as more companies emerged from the summer lull to file their listing plans, potentially helping the city catch up with New York in the global race for fundraising. Ximalaya, China’s biggest podcasting platform backed by Tencent Holdings, and Xintiandi, the Shanghai commercial property assets of tycoon Vincent Lo Hong sui’s Shui On Land, both filed to list in Hong Kong. They are among nearly a dozen firms who have... https://www.scmp.com/business/banking-finance/article/3148691/hong-kongs-ipo-pipeline-fills-ximalaya-xintiandi-seek-list?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3148691/hong-kongs-ipo-pipeline-fills-ximalaya-xintiandi-seek-list?utm_source=rss_feed Tue, 14 Sep 2021 09:00:10 +0000 Fanny Zhang, a Chinese Communist Party (CCP) member, wanted to treat herself to an expensive gift at the Xintiandi commercial complex ahead of the party’s centenary celebrations. “The Party has advanced with the times over the past 100 years,” said the 42-year Shanghai woman. “Now it is time for middle class consumers to spend more as a way of paying tribute to the great Party.” Xintiandi, or New World in Chinese, refers to the area centred around Madang Road in the heart of Shanghai, the... https://www.scmp.com/business/companies/article/3139367/xintiandi-commercial-complex-next-ccps-spiritual-home-pulls?utm_source=rss_feed https://www.scmp.com/business/companies/article/3139367/xintiandi-commercial-complex-next-ccps-spiritual-home-pulls?utm_source=rss_feed Thu, 01 Jul 2021 03:00:07 +0000 China Evergrande, the country’s third largest property developer by sales, posted a 45 per cent plunge in first-half core profit on Wednesday, becoming the first among the mainland’s top 10 developers to report a decline in earnings. The sharp fall in core earnings – its first drop since the first half of 2016 – came after the central government rolled out a slew of cooling measures to curb property price growth earlier this year. Interim core profit came in at 30.35 billion yuan (US$4.2... https://www.scmp.com/business/article/3024749/china-evergrande-first-major-mainland-developer-report-profit-decline?utm_source=rss_feed https://www.scmp.com/business/article/3024749/china-evergrande-first-major-mainland-developer-report-profit-decline?utm_source=rss_feed Wed, 28 Aug 2019 10:56:49 +0000 The management office of a residential estate in Kowloon Bay was besieged for a second consecutive day by residents angry at the sudden changing of entrance codes during protests. Dozens of people surrounded the Shui On Properties Management office in Richland Gardens on Sunday, to also accuse staff of stopping residents returning to their home because they were wearing black, the colour commonly worn by anti-government demonstrators. Chaos, tear gas and violence return to the streets of Hong... https://www.scmp.com/news/hong-kong/society/article/3024276/hong-kong-protests-residents-angry-access-changes-during?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3024276/hong-kong-protests-residents-angry-access-changes-during?utm_source=rss_feed Sun, 25 Aug 2019 10:59:41 +0000 Shui On Land, the mainland-focused developer known for its expertise in large-scale urban renewal projects, has carved a niche for itself in China’s ultra competitive retailing sector by launching the mainland’s first shopping centre dedicated to women in Shanghai. Located in the heart of downtown Shanghai, in Huaihai Road, Xintiandi Plaza aims to become a lifestyle destination for women of all ages, securing dozens of tenants to offer shoppers highly customisable interactive experiences. The... https://www.scmp.com/property/hong-kong-china/article/3012940/shui-revamps-xintiandi-plaza-it-looks-become-go?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3012940/shui-revamps-xintiandi-plaza-it-looks-become-go?utm_source=rss_feed Tue, 04 Jun 2019 01:00:16 +0000 Stephanie Lo Bo-yue, 36, has massive responsibilities. She is raising two young boys, aged two and four, and managing the day to day responsibilities of Shui On Land, known for its famous Xintiandi Plaza in Shanghai. Both tasks are challenging, but as the likely successor to the HK$14.4 billion (US$1.83 billion) business empire founded by her illustrious father and chairman, Vincent Lo Hong-sui, she has massive shoes to fill. In less than a year after being named executive director, she is... https://www.scmp.com/property/hong-kong-china/article/3010846/shui-chairman-vincent-los-daughter-and-designated?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3010846/shui-chairman-vincent-los-daughter-and-designated?utm_source=rss_feed Mon, 20 May 2019 00:00:08 +0000 Inside Vincent Lo Hong-shui’s office in the Shui On Centre in Wan Chai, traditional Chinese art lines the walls, and Lo rather favours wearing traditional Mandarin collared suits. But in a corporate culture that prefers male heirs, he has left tradition behind in just appointing his daughter, Stephanie, as executive director and heir apparent. She has more than 14 years of experience in property development in mainland China, and is also executive director of Shui On Management (SOM) and the... https://www.scmp.com/business/companies/article/2161587/shui-ons-vincent-lo-uncrowned-king-guangxi-still-hungry-out-trump?utm_source=rss_feed https://www.scmp.com/business/companies/article/2161587/shui-ons-vincent-lo-uncrowned-king-guangxi-still-hungry-out-trump?utm_source=rss_feed Tue, 28 Aug 2018 00:32:33 +0000 A consortium led by Shui On Land has won a prime commercial plot in Shanghai in a government tender for 13.6 billion yuan (US$2.08 billion), a mere 0.1 per cent higher than the starting price. The tender only drew two bidders at the final stage of the bidding because of the tough development requirements and the massive capital investment needed for the site, which was offered for 13.58 billion yuan. The Hong Kong-listed developer’s partners in acquiring the lot on one of Shanghai’s main... https://www.scmp.com/business/companies/article/2153970/shui-consortium-wins-prime-shanghai-site-us2-billion-government?utm_source=rss_feed https://www.scmp.com/business/companies/article/2153970/shui-consortium-wins-prime-shanghai-site-us2-billion-government?utm_source=rss_feed Thu, 05 Jul 2018 12:51:02 +0000 Hong Kong developers Shui On Land and Hongkong Land are vying for a prime plot of land in central Shanghai, a move that underscores the rising appeal of China’s top cities among overseas companies. Two companies have entered the final stage of bidding for the land, according to a statement posted on the official Shanghai Land Market website on Monday. The statement did not disclose the competing companies’ names and said the final results would be released 10 working days later. Huaihai Road is... https://www.scmp.com/property/hong-kong-china/article/2148592/hong-kong-developers-finalists-battle-us21-billion-site?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2148592/hong-kong-developers-finalists-battle-us21-billion-site?utm_source=rss_feed Thu, 31 May 2018 04:57:39 +0000 These days in Shanghai it seems getting a chance to buy property is as close as it gets to winning the lottery. Developers of high-priced Shanghai residential projects have been overwhelmed by deep-pocketed prospective buyers as local government price controls turn the homes into bargains. “Shanghai hasn’t seen new upscale home supply for several months,” said Lu Wenxi, analyst with Centaline Property’s Shanghai branch. “These projects were priced much lower than market expectation, in some... https://www.scmp.com/property/hong-kong-china/article/2143067/only-way-buy-property-shanghai-these-days-win-lottery?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2143067/only-way-buy-property-shanghai-these-days-win-lottery?utm_source=rss_feed Tue, 24 Apr 2018 05:54:14 +0000 Shares of Shui On Land, the Hong Kong developer that owns the landmark Shanghai shopping and entertainment district Xintiandi, jumped by their most in a week, after its 2017 profit and sales revenue beat forecasts. Net profit under general accounting rules more than doubled to 2.24 billion yuan, while its adjusted figure declined 31 per cent to 925.75 million yuan last year. Sales revenue rose 5 per cent to 18.45 billion yuan (US$2.9 billion), according to Shui On’s filings to the stock... https://www.scmp.com/business/companies/article/2138341/shui-shares-notch-biggest-weekly-gain-after-profit-beat-forecast?utm_source=rss_feed https://www.scmp.com/business/companies/article/2138341/shui-shares-notch-biggest-weekly-gain-after-profit-beat-forecast?utm_source=rss_feed Thu, 22 Mar 2018 04:03:19 +0000 Shui On Land has won a tender to buy two office buildings in Shanghai for 1.14 billion yuan (US$173 million), on the same day it announced it would sell half of its stake in a prime Shanghai multi-purpose property project as part of its “asset-light strategy”. The deal reflects the company’s commitment to office development in prime locations despite the disposals of major property assets in China to reduce debt. The company won the tender, which closed on Tuesday, to buy the Jianfa Junyi... https://www.scmp.com/business/companies/article/2125129/hong-kongs-shui-buys-two-shanghai-office-towers-despite-earlier?utm_source=rss_feed https://www.scmp.com/business/companies/article/2125129/hong-kongs-shui-buys-two-shanghai-office-towers-despite-earlier?utm_source=rss_feed Wed, 20 Dec 2017 13:20:05 +0000 Shui On Land has struck a deal to sell almost half its stake in a portfolio of prime Shanghai property projects to China Life Insurance for 4.16 billion yuan (US$630 million), its latest move to pursue an “asset-light strategy”. The sale is expected to generate a gain of 1.2 billion yuan for the property developer founded by tycoon Vincent Lo Hong-sui, it said in a filing to Hong Kong’s bourse late on Tuesday. “In accordance with the ‘asset-light strategy’ which the Group has been pursuing since... https://www.scmp.com/business/companies/article/2124987/shui-sells-prime-shanghai-property-projects-china-life-4-billion?utm_source=rss_feed https://www.scmp.com/business/companies/article/2124987/shui-sells-prime-shanghai-property-projects-china-life-4-billion?utm_source=rss_feed Tue, 19 Dec 2017 23:04:15 +0000 Shui On Land, the property developer founded by tycoon Vincent Lo Hong-sui, has sold one of its largest mixed commercial projects in mainland China for 4.1 billion yuan (US$596.3 million). In a statement to the Hong Kong stock exchange on Friday night, Shui On said it would reap a profit of about 1.7 billion yuan by selling a 79.2 per cent stake in Chongqing Tiandi to China Vanke, the second-largest developer in the country. The deal would also reduce its net gearing by 11 per cent, the firm... https://www.scmp.com/property/hong-kong-china/article/2095903/shui-land-sells-chongqing-assets-china-vanke-41-billion?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2095903/shui-land-sells-chongqing-assets-china-vanke-41-billion?utm_source=rss_feed Fri, 26 May 2017 17:17:41 +0000 Shui On Land, the developer that pioneered China’s heritage landmarks with its Shanghai Xintiandi project, is in talks to sell up to half of the latest development of its Ruihong Xincheng mixed residential and commercial project to pare down its debt. A memorandum of understanding has been signed with a buyer for 50 per cent of Shui On’s four Ruihong sites for an estimated eight billion yuan (US$1.16 billion), according to two sources familiar with the matter. China Vanke, the country’s... https://www.scmp.com/property/article/2078199/shui-talks-sell-half-its-ruihong-project-shanghai?utm_source=rss_feed https://www.scmp.com/property/article/2078199/shui-talks-sell-half-its-ruihong-project-shanghai?utm_source=rss_feed Sun, 12 Mar 2017 08:38:24 +0000 Shui On Land, the pioneer developer of China’s heritage landmarks, said it will continue to sell commercial assets and explore new revenue sources like its property management service to pay down debt. The developer of the Shanghai Xintiandi, which is already replicating the heritage enclaves in Wuhan and Chongqing, has also begun to focus on its start-up ecosystem concept called the knowledge and innovation community. It aims to build as many as 10 such communities in China over a decade. “It’s... https://www.scmp.com/property/hong-kong-china/article/2076754/shui-sell-assets-pare-debt-explore-new-revenue-sources?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2076754/shui-sell-assets-pare-debt-explore-new-revenue-sources?utm_source=rss_feed Tue, 07 Mar 2017 09:30:15 +0000 In the US and UK media, Shui On Land Ltd.’s chairman Vincent Lo is occasionally referred to as “the Donald Trump of China.” It’s a difficult comparison, given Lo’s personal bearing; though the business vision, his dalliances with debt and his tabloid chronicled marriage to a beauty pageant winner do bear some comparison. The experience of facing down Donald Trump in a US$500 million lawsuit in the mid 2000s is not something that Lo would discuss in great detail, considering that Developer Trump... https://www.scmp.com/property/hong-kong-china/article/2076696/how-vincent-lo-trumped-donald-new-york-project?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2076696/how-vincent-lo-trumped-donald-new-york-project?utm_source=rss_feed Tue, 07 Mar 2017 06:00:00 +0000 Vincent Lo Hong-sui, chairman of Shui On Land, has introduced a string of measures to shake up his firm's senior management to improve property sales, expand its land bank and streamline development strategies. The company has been criticised by investors for its slow turnover in assets and focus on urban redevelopment projects that involve heavy capital but long payback periods. The January 10 announcement that chief executive Freddy Lee Chun-kong is stepping down highlighted Lo's reform... https://www.scmp.com/property/hong-kong-china/article/1409213/shui-boss-shakes-management?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1409213/shui-boss-shakes-management?utm_source=rss_feed Sun, 19 Jan 2014 16:20:49 +0000 Shui On Land, a mainland developer that has been selling assets to cut debt, said yesterday that chief executive Freddy Lee had quit after less than three years and chairman Vincent Lo Hong-sui would resume a more active role. Lee also resigned as executive director and managing director with effect from yesterday, the developer said in a statement to the Hong Kong stock exchange. Lo would resume a more active role in the business while the company looked for a new chief executive, it said. Lee... https://www.scmp.com/business/companies/article/1402667/shui-chairman-back-drivers-seat-ceo-quits?utm_source=rss_feed https://www.scmp.com/business/companies/article/1402667/shui-chairman-back-drivers-seat-ceo-quits?utm_source=rss_feed Fri, 10 Jan 2014 17:21:05 +0000 Property developer Shui On Land yesterday announced a 27 per cent rise in net profit for the first half of the year and said it expected the outlook to improve in the mainland's residential and commercial markets. The company, chaired by Vincent Lo Hong-shui, said net profit was 1.05 billion yuan (HK$1.32 billion), up from 825 million yuan in the first half of last year. Core earnings stood at 387 million yuan, up from 15 million yuan in the first half of 2012. Lo said the mainland's residential... https://www.scmp.com/property/hong-kong-china/article/1299930/shui-profit-rises-27-cent-mainland-china-rebound?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1299930/shui-profit-rises-27-cent-mainland-china-rebound?utm_source=rss_feed Tue, 27 Aug 2013 16:00:00 +0000 Vincent Lo Hong-sui, the chairman of Shui On Land, is back in the spotlight as he moves to improve the firm's performance. Lo said he had withdrawn from the "front line" over the past two years but had decided to take a more active role. "The market sentiment is poor and the government has released different policies. It is not easy for a new person to manage the company," he said yesterday. "I worked as a consultant in the company over the past two years. "Now I will resume the leadership in... https://www.scmp.com/business/companies/article/1248538/vincent-lo-gets-hands-again?utm_source=rss_feed https://www.scmp.com/business/companies/article/1248538/vincent-lo-gets-hands-again?utm_source=rss_feed Tue, 28 May 2013 16:00:00 +0000 The conversion of a luxury boutique hotel in a historical district of Shanghai into a multi-storey flagship retail outlet will be the first project to be tackled by China Xintiandi, a commercial property unit to be spun off by Hong Kong-listed Shui On Land. Shui On owns two hotels in the popular tourist and entertainment area - the 357-room Langham Xintiandi, and the 53-room 88 Xintiandi. "We plan to convert the smaller 88 Xintiandi into a big retail shop suitable for an international retailer... https://www.scmp.com/property/hong-kong-china/article/1221592/shui-land-convert-shanghai-hotel-flagship-retail-store?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1221592/shui-land-convert-shanghai-hotel-flagship-retail-store?utm_source=rss_feed Tue, 23 Apr 2013 16:00:00 +0000 Shui On Land is to raise up to HK$4.13 billion through a rights issue to finance its involvement in two large-scale urban renewal projects in Shanghai and future land acquisition. The news came as the company revealed its full-year underlying profits had plunged 87 per cent year on year to 201 million yuan (HK$248 million) in 2012. The company announced a rights issue of one new share for every three shares held. The rights shares will be priced at a steep discount of HK$1.84 each, or almost 45... https://www.scmp.com/business/companies/article/1202184/shui-land-launch-rights-issue-profits-plunge?utm_source=rss_feed https://www.scmp.com/business/companies/article/1202184/shui-land-launch-rights-issue-profits-plunge?utm_source=rss_feed Thu, 28 Mar 2013 16:00:00 +0000 At 64, Vincent Lo Hong-sui has not taken a holiday for seven years. A workaholic still, despite being a billionaire, Lo is hoping all that effort will pay off as he begins building one of the nation's largest property investment companies. The grand plan, unveiled earlier this month, involves restructuring the Hong Kong-listed Shui On Land, in which Lo has a 60 per cent stake, by injecting up to 68 billion yuan (HK$83.75 billion) of commercial assets into China Xintiandi, a wholly owned... https://www.scmp.com/business/companies/article/1137277/vincent-los-plans-new-vehicle-china-xintiandi?utm_source=rss_feed https://www.scmp.com/business/companies/article/1137277/vincent-los-plans-new-vehicle-china-xintiandi?utm_source=rss_feed Sun, 27 Jan 2013 16:00:00 +0000 Mainland developer Shui On Land says its office-retail project, Corporate Avenue II, will generate annual rental incomes of up to 700 million yuan (HK$862.84 million) once all the space has been leased. The project, which will offer 105,000 sqmetres of office space in two towers and 51,000 sqmetres of retail space, is now under construction and is due for completion next year. It is among several assets that could be included in the proposed separate listing for China Xintiandi, which will focus... https://www.scmp.com/business/china-business/article/1125129/shui-land-expects-bumper-rental-income-corporate-avenue-ii?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1125129/shui-land-expects-bumper-rental-income-corporate-avenue-ii?utm_source=rss_feed Thu, 10 Jan 2013 16:00:00 +0000 Shui On Land yesterday unveiled a major restructuring plan to inject its commercial portfolio, valued up to 68 billion yuan (HK84.6 billion), into its listing candidate China Xintiandi, in an attempt to boost investors' confidence. Xintiandi, a wholly owned subsidiary, will start operations on March 1. Shui On announced plans to spin off Xintiandi in May last year. Chairman Vincent Lo Hong-sui will take the lead in setting up and positioning the subsidiary. "Although China Xintiandi won't have... https://www.scmp.com/business/companies/article/1124249/shui-land-boost-spin-68b-yuan-asset-injection?utm_source=rss_feed https://www.scmp.com/business/companies/article/1124249/shui-land-boost-spin-68b-yuan-asset-injection?utm_source=rss_feed Wed, 09 Jan 2013 16:00:00 +0000 Shui On Land yesterday announced it would add a 500,000 square metre commercial complex to its Rui Hong Xin Cheng residential project in Shanghai. The developer will own and lease the large shopping space. It did not reveal the investment amount for the new project. The plan to incorporate the commercial complex in Shanghai's northern district of Hongkou will transform Rui Hong Xin Cheng, a residential complex that Shui On launched in 1997, into a residential-commercial project. "As local... https://www.scmp.com/business/china-business/article/1048115/shui-add-commercial-complex-shanghai-residential-project?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1048115/shui-add-commercial-complex-shanghai-residential-project?utm_source=rss_feed Wed, 26 Sep 2012 16:00:00 +0000 Shui On Land is set to launch luxury flats in its mainland project, Foshan Lingnan Tiandi, for sale in Hong Kong next month, with price tags ranging from 4 million yuan (HK$4.91 million) to more than 5 million yuan. The developer plans to release the first batch of 32 flats sized between 220 and 260 square metres for sale in Hong Kong on October 13 and 14. These units, which belong to the project's phase two development, were priced at about 19,800 yuan per sq metre, said Alex Wong Ho-man,... https://www.scmp.com/business/china-business/article/1041051/shui-release-foshan-flats-hk?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1041051/shui-release-foshan-flats-hk?utm_source=rss_feed Wed, 19 Sep 2012 16:00:00 +0000 Shui On Land yesterday said it was not facing a cash crunch and hinted it might have to defer plans to spin off China Xintiandi if the market sentiment continued to weaken. But chairman Vincent Lo Hong-sui, said the company was still preparing for a separate listing of China Xintaindi. 'If there is an overall improvement in market conditions, the spin-off will go ahead,' he said after the company's annual general meeting. His comments come as several companies start rolling back listing plans,... https://www.scmp.com/article/1003364/shaky-market-dampens-shui-ons-listing-plans?utm_source=rss_feed https://www.scmp.com/article/1003364/shaky-market-dampens-shui-ons-listing-plans?utm_source=rss_feed Thu, 07 Jun 2012 16:00:00 +0000 A day after announcing plans to spin off its Xintiandi unit, Shui On Land said it expected rental income to rise 17 per cent to more than one billion yuan (HK$1.2 billion). 'The increase in rent is mainly because of more projects completed this year,' chief executive Freddy Lee Chun-kong said. Rental income would be boosted by the completion of 72,000 square metres of investment properties, including Chongqing Tiandi and Foshan Lingnan Tiandi, its annual report said last year. The proposed... https://www.scmp.com/article/1002458/shui-land-optimistic-rental-income-rise?utm_source=rss_feed https://www.scmp.com/article/1002458/shui-land-optimistic-rental-income-rise?utm_source=rss_feed Tue, 29 May 2012 16:00:00 +0000 Shui On Land expects the business environment for mid- and small-sized developers to be challenging this year as cooling measures in the mainland property market continue to have an impact. 'The business environment may be more difficult than that in 2011,' chairman Vincent Lo Hong-sui said yesterday. Despite the People's Bank of China lowering banks' reserve ratio requirements twice, he believes the measures to loosen lending will not help the market unless there is a turnaround in the global... https://www.scmp.com/article/996200/shui-land-expects-tough-year-developers?utm_source=rss_feed https://www.scmp.com/article/996200/shui-land-expects-tough-year-developers?utm_source=rss_feed Wed, 21 Mar 2012 16:00:00 +0000 An exhibition centre in the form of a 'spaceship' will be a drawing card of Shui On Land's proposed multibillion-yuan property development in Shanghai's new core business district of Hongqiao. 'It will be an architectural icon. We would like to build something unique in this precious site adjacent to the future transportation hub in Shanghai,' said Freddy Lee Chun Kong, chief executive and managing director of Shui On Land. The exhibition centre will be part of the developer's proposed Hongqiao... https://www.scmp.com/article/968564/spaceship-highlight-shui-project?utm_source=rss_feed https://www.scmp.com/article/968564/spaceship-highlight-shui-project?utm_source=rss_feed Sun, 22 May 2011 16:00:00 +0000 Government measures to cool the property market may bring some benefits to lower-income households, but would not help bring down flat prices, developer Vincent Lo Hong-sui said. The Chinese People's Political Consultative Conference delegate and Shui On Group chairman said the core problem was the lack of land supply and high demand for property. He criticised the government measures as 'too severe'. https://www.scmp.com/article/740162/developer-criticises-government-measures?utm_source=rss_feed https://www.scmp.com/article/740162/developer-criticises-government-measures?utm_source=rss_feed Sun, 06 Mar 2011 16:00:00 +0000 Shui On Land said yesterday it had agreed to acquire the remaining 30 per cent that it did not own in a company that holds the luxury residential development in Shanghai's upmarket Xintiandi area for HK$113.63 million. After the completion of the Globe State purchase, Shui On's ownership in the Lakeville will increase to 99 per cent from 69.3 per cent. The Lakeville comprises 1,000 square metres of serviced apartments, a hotel and clubhouse and 7,000 sqmetres of parking and other... https://www.scmp.com/article/688337/shui-land-buys-out-partners-lakeville?utm_source=rss_feed https://www.scmp.com/article/688337/shui-land-buys-out-partners-lakeville?utm_source=rss_feed Wed, 29 Jul 2009 16:00:00 +0000 China Resources Land said yesterday that solid demand from both investors and end-users boosted contract property sales for the first five months by almost 600 per cent. Managing director Wang Yin (right) said contract sales during the period totalled 973,000 square metres, up 578 per cent from last year. Revenue amounted to 8.68 billion yuan (HK$9.85 billion), accounting for 80 per cent of annual sales target. Including projects sold but not completed last year, as well as sales on projects... https://www.scmp.com/article/682587/cr-land-property-sales-soar-600pc?utm_source=rss_feed https://www.scmp.com/article/682587/cr-land-property-sales-soar-600pc?utm_source=rss_feed Wed, 03 Jun 2009 16:00:00 +0000 Shui On Land plans to bring in strategic partners on a number of large property developments in Chongqing and Yunnan province as a way to release capital for new projects and accelerate expansion. The decision came after the firm announced underlying profit last year rose 34 per cent to HK$2.11 billion, including an 845 million yuan (HK$943 million) gain from the sale of stakes in two projects to Trophy Property. The results beat expectations for a 1.64 billion yuan profit in a Thomson... https://www.scmp.com/article/634082/shui-land-looks-strategic-investors?utm_source=rss_feed https://www.scmp.com/article/634082/shui-land-looks-strategic-investors?utm_source=rss_feed Thu, 17 Apr 2008 16:00:00 +0000 Shui On Construction and Materials (Socam) reported last year's net profit amounted to HK$702 million, thanks to the spin-off of its mainland real estate arm for a separate listing. Earnings were 16.6 per cent higher than the HK$602 million for the last nine months in 2006. The company switched its financial year to the calendar year in 2006 and did not give comparable figures for 2007 results. Shui On booked a HK$417 million gain from the listing of China Central Properties (CCP) on the... https://www.scmp.com/article/633008/socam-profit-rises-hk702m-spin?utm_source=rss_feed https://www.scmp.com/article/633008/socam-profit-rises-hk702m-spin?utm_source=rss_feed Tue, 08 Apr 2008 16:00:00 +0000 A 37,400-square-metre commercial site in Shanghai's Yangpu district has been sold for 4.11 million yuan (HK$4.57 million) to a mainland company, which is being acquired by Shui On Land, according to the Shanghai government's website. Shanghai Sheng Jin Real Estate won the site, reserved for development for the Jiang Wan airport, the Shanghai Municipal Housing, Land and Resource Administration Bureau said on its website. The plot was originally earmarked for an airport for the People's... https://www.scmp.com/article/632427/shui-linked-firm-buys-site-41m-yuan?utm_source=rss_feed https://www.scmp.com/article/632427/shui-linked-firm-buys-site-41m-yuan?utm_source=rss_feed Thu, 03 Apr 2008 16:00:00 +0000 Shui On Construction and Materials (Socam) plans to sell up to HK$1 billion worth of shares in Shui On Land to its parent firm for debt repayment. Socam has agreed to sell up to 130.2 million Shui On Land shares, or a 3.11 per cent stake, at HK$7.68 to HK$8.50 each. The company is expected to book a one-time disposal gain of HK$497 million to HK$546 million by the end of the year. After the deal, Socam still holds 9.46 per cent of Shui On Land, based on the HK$7.68 selling price. Shui On... https://www.scmp.com/article/628641/socam-sell-hk1b-stake-shui-land?utm_source=rss_feed https://www.scmp.com/article/628641/socam-sell-hk1b-stake-shui-land?utm_source=rss_feed Tue, 04 Mar 2008 16:00:00 +0000 Good corporate governance, which includes the rules and practices that govern the relationship between a company and its shareholders and between stakeholders and local communities, ensures transparency, fairness and accountability. Through embracing this concept, Shui On Land believes integrity builds and safeguards stakeholder relationship and shareholder value while achieving healthy and sustainable growth. William Addison, Shui On Land managing director and chief financial officer, said... https://www.scmp.com/article/618282/integrity-counts?utm_source=rss_feed https://www.scmp.com/article/618282/integrity-counts?utm_source=rss_feed Tue, 04 Dec 2007 16:00:00 +0000 Shui On Land has bought a 640,000 square metre site in Foshan of Guangdong province for 7.5 billion yuan, marking its first foray into the southern province. Shui On Land said it would build a giant mixed-use development providing a total gross floor area of 1.5 million sq metres. It will include residential and office buildings, as well as retail, restaurant, entertainment, tourism and cultural facilities. The development, situated at the centre of Zumiao Donghua Lane in Foshan, will ... https://www.scmp.com/article/617851/shui-land-buys-75b-yuan-foshan-site?utm_source=rss_feed https://www.scmp.com/article/617851/shui-land-buys-75b-yuan-foshan-site?utm_source=rss_feed Fri, 30 Nov 2007 16:00:00 +0000 Seagull inspired charge into mainland property With a HK$100,000 loan from his father, Vincent Lo Hong-sui has built a multibillion-dollar property and construction empire. The successful career of the 59-year-old chairman of Shui On Group has not been modelled on hard-hitting and hard-nosed rivals. Instead, he claims the popular 1970s novella Jonathan Livingston Seagull about a bird seeking a higher purpose in life was his inspiration. A seagull is incorporated in the company's logo. Now the... https://www.scmp.com/article/616232/vincent-lo-aspires-higher-purpose?utm_source=rss_feed https://www.scmp.com/article/616232/vincent-lo-aspires-higher-purpose?utm_source=rss_feed Sun, 18 Nov 2007 16:00:00 +0000 Shanghai-based developer Shui On Land is considering buying up to seven property projects after reporting a more than 33 per cent jump in underlying first-half profit. Underlying profit, fuelled by a sharp reduction in finance costs, rose to 578 million yuan from 433 million a year earlier. Turnover advanced 0.92 per cent to 2.17 billion yuan from 2.15 billion yuan. 'We are now studying six or seven projects but it is inappropriate to give more details at the moment,' said chairman Vincent... https://www.scmp.com/article/608433/shui-land-considers-acquisitions-gains-rise?utm_source=rss_feed https://www.scmp.com/article/608433/shui-land-considers-acquisitions-gains-rise?utm_source=rss_feed Tue, 18 Sep 2007 16:00:00 +0000 Shui On Construction and Materials (Socam) has agreed to sell 1.8 billion yuan worth of Shui On Land shares to a privately-run company owned by its chairman Vincent Lo Hong-shui. Analysts said the proposed sale was aimed at streamlining the group's structure. Socam is expected to gradually sell its entire stake in Shui On Land to Mr Lo's company. Socam said it would sell 228.7 million Shui On Land shares to Shui On Investment at a minimum of HK$7.87 each, 211.8 million Shui On Land shares at... https://www.scmp.com/article/600922/socam-streamline-18b-yuan-sale?utm_source=rss_feed https://www.scmp.com/article/600922/socam-streamline-18b-yuan-sale?utm_source=rss_feed Tue, 17 Jul 2007 16:00:00 +0000 A Silicon Valley-based business association has teamed up with a Hong Kong partner to establish a US$250 million venture capital fund in Shanghai to capitalise on the region's development. The San Francisco-based Bay Area Council (BAC) yesterday signed a memorandum of understanding in Shanghai with the Shanghai-Hong Kong Council for the Promotion and Development of Yangtze (Yangtze Council). BAC China division head Richard Kramlich said it was the first time the organisation had given... https://www.scmp.com/article/590458/us-group-joins-yangtze-venture?utm_source=rss_feed https://www.scmp.com/article/590458/us-group-joins-yangtze-venture?utm_source=rss_feed Wed, 25 Apr 2007 16:00:00 +0000 Shanghai-based developer Shui On Land said its underlying profit surged 148 per cent last year, fuelled by strong sales at its upmarket projects in the city. Profit before investment property revaluation gains rose to 1.54 billion yuan last year from 97 million yuan in 2005, exceeding the forecast in its listing prospectus by 5.9 per cent. Turnover jumped 365 per cent to 4.73 billion yuan and a final dividend of six HK cents a share was proposed. 'Robust sales of residential units made a... https://www.scmp.com/article/589773/shui-land-earnings-148pc-robust-sales?utm_source=rss_feed https://www.scmp.com/article/589773/shui-land-earnings-148pc-robust-sales?utm_source=rss_feed Fri, 20 Apr 2007 16:00:00 +0000 Citigroup Venture Capital International, a private equity investment unit of the US banking giant, has offloaded its entire 1.5 per cent stake in mainland developer Shui On Land through a share placement after the market closed yesterday, according to a source close to the deal.. The firm reaped HK$375 million by selling 61 million Shui On shares at HK$6.12 each, he said, a 3.6 per cent discount to yesterday's HK$6.35 close. The final price was fixed near the top end of the indicative range... https://www.scmp.com/article/588473/citigroup-unit-sells-shui-land-stake?utm_source=rss_feed https://www.scmp.com/article/588473/citigroup-unit-sells-shui-land-stake?utm_source=rss_feed Tue, 10 Apr 2007 16:00:00 +0000