Property

French bid puts Hammerson UK retail push in doubt

19 Mar 2018

The British shopping centre operator has rejected a 4.9 bln pound approach from European rival Klepierre. The 20 percent discount to Hammerson’s net assets looks opportunistic. But it also highlights investors’ doubts about the UK group’s punt on domestic peer Intu Properties.

Chinese vacancy casts shadow on Hong Kong property

28 Feb 2018

An obscure mainland group buying a $5 bln skyscraper from Li Ka-shing has pulled out. Locals are due to take its place. Similarly, HNA recently flipped land to a Hong Kong developer. If the southbound rush into commercial property abates, the market could regain a little sanity.

HNA sale sets stage for a great escape

13 Feb 2018

Selling half a marquee Hong Kong project for $2 bln should help offset a liquidity crunch. Plenty of other foreign assets could be sold without disrupting the Chinese outfit’s core businesses. Since deals were largely debt-funded, HNA needs good prices to make a difference.

Spain’s property party is looking bleary-eyed

6 Feb 2018

Ten years after the last crash, Spanish property deals and IPOs are seeing record volumes. A strong economy makes another bust unlikely. But investors can no longer rely on rising values to earn their crust. An interest rate jolt could bring the fiesta to an abrupt end.