HONG KONG (Reuters) – Chinese state-owned property firms are expected to acquire 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
Shanghai ($707.5
Hotel mln)
Jan 28 Agile Group One land China 1 bln yuan
in Overseas
Zhejiang Grand Oceans
Province,
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
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
Jan 18 Sunac China 66% in a China Capital unknown
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
business Land
Dec 31 Sunac 40% stake Huafa unknown
1.2 bln Industrial Co
yuan in a
Kunming
theme park
worth
Nov 29 Greenland 60% in Shanghai 3 billion
Holdings Shanghai Estate yuan
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)