Factbox: Chinese state-owned firms step in to rescue cash-strapped developers

China Overseas Grand Oceans

31/01/2022 06:28

HONG KONG, Jan 31 (Reuters) - Chinese state-owned property
firms are expected to acquire https://www.reuters.com/markets/deals/cash-strapped-chinese-developer-shimao-sells-stake-asset-state-owned-partner-2022-01-25
 more assets from cash-strapped private developers, analysts
said, as Beijing steps up efforts to stabilise and tighten
control over a crisis-hit sector that accounts for a quarter of
its economy.
    Here are some of the sizeable assets sold to state-owned
enterprises in the past two months:
    
 Date        Seller       Asset       Buyer          Value
 Jan 28      Shimao       Hyatt on    Shanghai Land  4.5 bln
             Group        the Bund,                  yuan 
              0813.HK     Shanghai                   ($707.5
                          Hotel                      mln)
 Jan 28      Agile Group  One land    China          1 bln yuan
              3383.HK     in          Overseas       
                          Zhejiang    Grand Oceans   
                          Province,    0081.HK       
                          two land                   
                          in Jiangsu                 
                          Province                   
 Jan 24, 21  Shimao,      26.7%       China          1.8 bln
             Agile        stake each  Overseas Land  yuan each
                          in          & Investment   
                          Guangzhou    0688.HK       
                          Asian                      
                          Games City                 
 Jan 21      Shimao       A Shanghai  Shanghai       1.06 bln
                          commercial  Jiushi         yuan
                           land                      
 Jan 20      Jiangsu      Property    China          2.3 bln
             Zhongnan     management  Resources      yuan
             Constructio  business    Land           
             n                         1109.HK       
              000961.SZ                              
 Jan 18      Sunac China  66% in a    China Capital  unknown
              1918.HK     Wuhan land  Land           
                          bought for                 
                          7 bln yuan                 
                          in 2019                    
 Jan 17      Sunac        35% in      Wuhan Real     unknown
                          Wuhan       Estate Group   
                          theme park                 
 Jan 5       Yuzhou       Property    China          1.06 bln
             Group        management  Resources      yuan
              1628.HK     business    Land           
 Dec 31      Sunac        40% stake   Huafa          unknown
                          1.2 bln     Industrial Co  
                          yuan in a    600325.SS     
                          Kunming                    
                          theme park                 
                          worth                      
 Nov 29      Greenland    60% in      Shanghai       3 billion
             Holdings     Shanghai    Estate         yuan 
              600606.SS   office      (Group),       
                          tower       Shanghai       
                                      Chengdu        
                                      Investment     
 Sources: HKEX, company registry, CREIS


($1 = 6.3605 Chinese yuan renminbi)

 (Reporting by Clare Jim; Editing by Sumeet Chatterjee)
 ((clare.jim@thomsonreuters.com; +852 2912 6653; Reuters
Messaging: clare.jim.thomsonreuters.com@reuters.net))