08-08-2013, 05:12 PM
(07-08-2013, 04:22 PM)Boon Wrote: [ -> ]2) It appears to me that Nanfung has never embarked on a China real estate development project on its own – always on JV basis – and never in the driver seat or lead role. (Note: I could be wrong on this)
From their website, found 3 projects where they have 100% interest (1st 2 are Commercial & last is Residential),
GZ NF Int’l Convention & Exhibition Ctr./ Langham Place
In 2010, this development won the “Highly Commended” Architecture Award (Mixed Use) China category in the International Commercial Property Awards – Asia Pacific, and was named as one of Guangdong’s “Top 500 Modern Industrial Projects”. The top floors of this 22-storey development will be a luxury five-star hotel managed by Langham Hotels International, attracting both business and leisure travellers. The hotel will offer 499 spacious rooms as well as facilities supporting large-scale banquets and international conferences. The 4-storey podium floors are designed for commercial and exhibition use, with a capacity to accommodate up to 1,500 world-class exhibition booths. It will be the region’s only exhibition complex with its own associated 5-star hotel.
Address : Guangzhou, Guangdong Province
Group's Interest : 100%
Project Development Status : Scheduled for completion in 2013
G.F.A. : 965,000 sq. ft.
WX City-Ctr Commercial Complex
The project is located in the NanChang district in the city center of Wuxi, in close vicinity of multiple Grade A office complexes and two 5-star hotels: the Wuxi Kempinski and The Intercontinental Hotel. Our project is only 600m away from the subway line no. 1 station, and enjoys an unblocked view of the greenery of the Taihu People’s Square. It is currently designed to encompass two Grade A Office & SOHO towers, with a commercial podium catered for retail shoppers with plenty of F&B options including alfresco dining, to take advantage of our strategic location and its panoramic view over the square.
Address : NanChang District, Wuxi, Jiangsu
Group's Interest : 100%
Project Development Status : Currently under planning and construction
G.F.A. : 2,515,000 sq. ft.
WX Palazzo Del Lago
Located at the 4A-level scenic zone of Taihu Lake National Tourist Resort, Palazzo del Lago enjoys the spectacular natural views of Taihu Lake. The development features 196 villas built in classic Italian style.
Address : Wuxi, Jiangsu Province
Group's Interest : 100%
Project Development Status : The first phase is completed and the second and third phases are under construction.
G.F.A. : 973,000 sq. ft.
Nan Fung Group's New Boss
Forbes 1/05/2011
Under her watch, Nan Fung has regained its vigor in managing core real estate portfolios, after years of lapses, to bid in government land auctions, further expand its international financial investments and wade deep into China. For the full year of 2010, Chen expects to generate net profit in excess of HK$6 billion ($773 million).
She sets for herself a lofty goal, planning to eventually increase profits from China to 50% of the group total, a target that would make Nan Fung the preeminent Hong Kong developer in China. At present, China accounts for 20% of Nan Fung’s net assets.
Lengthy article on family feud plus background of Nan Fung dated 8-Jun-12. Interesting extract,
Also in the 1990s, he became a white knight in the stock market by buying 10 percent of Sino Land, which was meshed in debt.
Sino Land is different from Sino Ocean Land, which was only listed in 2007. Sino Land is currently controlled by Mr Ng Teng Fong's family. I wonder what happened to Nan Fung's stake in Sino Land...
Looks like they have been reducing their stake in Sino Ocean Land after the passing of Mr Chen Din Hwa... From a high of 26.65% on 20-Oct-11 to 14.08% on 30-Jul-13.. Recent transactions started from 26-Jul-13 (reduced from 23.09% to 19.18%).... May be related to "Repurchased Convertible Securities" in Sino Ocean Land announcements. Hmm... preparing cash for Forterra stake??