China 2nd Largest Property Developer China Vanke to Receive 2 Loans Totalling $564 Million from Postal Savings Bank of China, Tranche 1 is $220 Million 3-Year Loan Pledged by Xuzhou Project, Tranche 2 is $344 Million 3-Year Loan Pledged by Xi’an Project, Announced in 2024 March to Stop Paying Dividends & to Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
20th June 2024 | Hong Kong
China 2nd largest property developer China Vanke (20/6/24: $11.4 billion market value) has announced to receive 2 loans totalling $564 million (CNY 4.1 billion) from the Postal Savings Bank of China. Tranche 1 is a $220 million (CNY 1.6 billion) 3-year loan pledged by Xuzhou project, and Tranche 2 is a $344 million (CNY 2.1 billion) 3-year loan pledged by Xi’an project. In March 2024, China Vanke announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In June 2024, China Vanke announced to repay a $600 million 5-year 4.2% coupon bond maturing on 7th June 2024 (today). In 2024 May, China Vanke had been reported to be in talks with major banks for $6.9 billion of loans. In May 2024, China Vanke received a total of $2.76 billion (CNY 20 billion) in syndicated loans led by China Merchants Bank, with $1.2 billion of loans from 4 China banks – Bank of China, Agricultural Bank of China, Bank of Beijing & Postal Savings Bank of China. Earlier in May 2024, China Vanke is auctioning a $304 million Shenzhen office building land between 18th to 27th May 2024 to raise cash from non-core business assets. In 2024 April, China Vanke started preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke had announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
“ China 2nd Largest Property Developer China Vanke to Receive 2 Loans Totalling $564 Million from Postal Savings Bank of China, Tranche 1 is $220 Million 3-Year Loan Pledged by Xuzhou Project, Tranche 2 is $344 Million 3-Year Loan Pledged by Xi’an Project, Announced in 2024 March to Stop Paying Dividends & to Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years “
China 2nd Largest Property Developer China Vanke to Repay $600 Million 5-Year 4.2% Coupon Bond Maturing on 7th June 2024, in Talks with Major Banks for $6.9 Billion of Loans, Received $2.76 Billion Syndicated Loans Led by China Merchants Bank, Current Market Value of $12.4 Billion, Stopped Paying Dividends & to Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
7th June 2024 – China 2nd largest property developer China Vanke (7/6/24: $12.4 billion market value) is repaying a $600 million 5-year 4.2% coupon bond maturing on 7th June 2024 (today). In 2024 May, China Vanke had been reported to be in talks with major banks for $6.9 billion of loans. In May 2024, China Vanke received a total of $2.76 billion (CNY 20 billion) in syndicated loans led by China Merchants Bank, with $1.2 billion of loans from 4 China banks – Bank of China, Agricultural Bank of China, Bank of Beijing & Postal Savings Bank of China. Earlier in May 2024, China Vanke is auctioning a $304 million Shenzhen office building land between 18th to 27th May 2024 to raise cash from non-core business assets. In 2024 April, China Vanke started preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke in Talks with Major Banks for $6.9 Billion of Loans, Received $2.76 Billion Syndicated Loans Led by China Merchants Bank, Current Market Value of $14.5 Billion, Stopped Paying Dividends & to Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
30th May 2024 – China 2nd largest property developer China Vanke (30/5/24: $13.1 billion market value) has been reported to be in talks with major banks for $6.9 billion of loans. In May 2024, China Vanke received a total of $2.76 billion (CNY 20 billion) in syndicated loans led by China Merchants Bank, with $1.2 billion of loans from 4 China banks – Bank of China, Agricultural Bank of China, Bank of Beijing & Postal Savings Bank of China. Earlier in May 2024, China Vanke is auctioning a $304 million Shenzhen office building land between 18th to 27th May 2024 to raise cash from non-core business assets. In 2024 April, China Vanke started preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke Receives $2.76 Billion Syndicated Loans Led by China Merchants Bank, Current Market Value of $14.5 Billion, Stopped Paying Dividends & to Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
24th May 2024 – China 2nd largest property developer China Vanke (24/5/24: $14.5 billion market value) has received a total of $2.76 billion (CNY 20 billion) in syndicated loans led by China Merchants Bank, with $1.2 billion of loans from 4 China banks – Bank of China, Agricultural Bank of China, Bank of Beijing & Postal Savings Bank of China. Earlier in May 2024, China Vanke is auctioning a $304 million Shenzhen office building land between 18th to 27th May 2024 to raise cash from non-core business assets. In 2024 April, China Vanke started preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke Receives $1.2 Billion Loans from 4 China Banks – Bank of China, Agricultural Bank of China, Bank of Beijing & Postal Savings Bank of China, China Vanke to Stop Paying Dividends & Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
17th May 2024 – China 2nd largest property developer China Vanke has received $1.2 billion of loans from 4 China banks – Bank of China, Agricultural Bank of China, Bank of Beijing & Postal Savings Bank of China. Earlier in May 2024, China Vanke (10/5/24: $10.9 billion market value) is auctioning a $304 million Shenzhen office building land between 18th to 27th May 2024 to raise cash from non-core business assets. In 2024 April, China Vanke started preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke to Auction $304 Million Shenzhen Office Building Land Between 18th to 27th May to Raise Cash from Non-Core Business Assets, Started Preparing $18 Billion of Assets to be Used as Collateral for New Bank Loans, China Vanke to Stop Paying Dividends & Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years, Current Market Value at $10.9 Billion
10th May 2024 – China 2nd largest property developer China Vanke (10/5/24: $10.9 billion market value) is auctioning a $304 million Shenzhen office building land between 18th to 27th May 2024 to raise cash from non-core business assets. In 2024 April, China Vanke started preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke Prepares $18 Billion of Assets to be Used as Collateral for New Bank Loans, China Vanke to Stop Paying Dividends & Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years, Current Market Value at $10.4 Billion
20th April 2024 – China 2nd largest property developer China Vanke (19/4/24: $10.4 billion market value) is preparing $18 billion of assets to be used as collateral for new bank loans. In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. Earlier in April 2024, China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke Jinan Branch General Manager Xiao Jin in Shandong Province Detained by Police for Investigation, China Vanke Current Market Value at $12 Billion
12th April 2024 – China 2nd largest property developer China Vanke Jinan branch General Manager Xiao Jin in Shandong province had been detained by China police for investigation. Earlier in April 2024, China Vanke has announced to be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
China 2nd Largest Property Developer China Vanke to Take Legal Action Against Business Partner Shenzhen-Based Yantai Bairun Real Estate for Publishing a Defamatory Open Letter to China Tax Authority of China Vanke Engaging in Tax Evasion, Misusing Funds, Money Laundering & Operating a Loan Business, China Vanke Current Market Value at $12 Billion
6th April 2024 – China 2nd largest property developer China Vanke will be taking legal action against business partner Shenzhen-Based Yantai Bairun Real Estate for publishing a defamatory open letter to China tax authority (State Taxation Administration) of China Vanke engaging in tax evasion, misusing funds, money laundering & operating a loan business. China Vanke current market value is at $12 billion (5/4/24). In March 2024, China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. China Vanke current market value is at $15.3 billion (14/3/24), with share price decreasing -4.3% YTD, -38% over the last 12 months, and -65% over the last 5 years.
China 2nd Largest Property Developer China Vanke to Stop Paying Dividends & Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
30th March 2024 – China 2nd largest property developer China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. China Vanke current market value is at $15.3 billion (14/3/24), with share price decreasing -4.3% YTD, -38% over the last 12 months, and -65% over the last 5 years.
China 2nd Largest Property Developer China Vanke Received $194 Million 14-Year Loan from Industrial Bank to Repay Existing Debts, $630 Million Bond Due on 11th March 2024, Credit Rating Downgraded to Junk Status Ba1 Below Investment-Grade Rating by Moody’s Indicating Substantial Credit Risk, China Reported to Ask Banks to Support China Vanke with Financing
23rd March 2024 – China 2nd largest property developer China Vanke has received $194 million 14-year loan from Industrial Bank to repay existing debts, with $630 million bond due on 11th March 2024. In March 2024, China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. China Vanke current market value is at $15.3 billion (14/3/24), with share price decreasing -4.3% YTD, -38% over the last 12 months, and -65% over the last 5 years. More info below:
China 2nd Largest Property Developer China Vanke Credit Rating Downgraded to Junk Status Ba1 Below Investment-Grade Rating by Moody’s Indicating Substantial Credit Risk, China Reported to Ask Banks to Support China Vanke with Financing, $630 Million Bond Due on 11th March 2024, $15.3 Billion Market Value with Share Price Decreasing -4.3% YTD, -38% Last 12 Months, -65% Last 5 Years
14th March 2024 – China 2nd largest property developer China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. China property giant China Vanke $630 million bond was due on 11th March 2024. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. China Vanke current market value is at $15.3 billion (14/3/24), with share price decreasing -4.3% YTD, -38% over the last 12 months, and -65% over the last 5 years. More info below:
China Property Giant China Vanke $630 Million Bond Due on 11th March 2024, Faces Doubt from Creditors of Repayment Ability, Sold Remaining 50% of Shanghai Retail Complex Qibao Vanke Plaza to Hong Kong-Listed Link Reit for $334 Million in February 2024
10th March 2024 – China property giant China Vanke $630 million bond is due on 11th March 2024, facing doubt from creditors on China Vanke repayment ability. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. More info below:
China Property Giant China Vanke Sells Remaining 50% of Shanghai Retail Complex Qibao Vanke Plaza to Hong Kong-Listed Link Reit for $334 Million, Link Reit is Asia Largest Real Estate Investment Trust & Acquired 50% of Qibao Vanke Plaza from Singapore GIC in 2021
10th February 2024 – China property giant China Vanke has sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
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