Hongkong Land recently purchased a mixed-use plot in Financial Harbour, West Bund of Xuhui Binjing in Shanghai for RMB31.05 billion. Covering a land area of 323,700 sq m, the site has a total GFA of approximately 1.09 million sq m of which 810,000 sq m being designated for commercial use.
China’s construction & real estate industry M&A deals total $8.42bn in Q4 2019. Total construction & real estate industry M&A deals in Q4 2019 worth $8.42bn were announced in China, according to GlobalData’s deals database.
The value marked an increase of 162.7% over the previous quarter and a rise of 124.5% when compared with the last four-quarter average of $3.75bn. China held a 17% share of the global construction & real estate industry M&A deal value that totalled $49.6bn in Q4 2019.
In terms of deal activity, China recorded 63 deals during Q4 2019, marking a rise of 28.6% over the previous quarter and a rise of 31.3% over the last four-quarter average. The top five construction & real estate industry M&A deals accounted for 55.2% of the overall value during Q4 2019. The combined value of the top five construction & real estate M&A deals stood at $4.65bn, against the overall value of $8.42bn recorded for the month. The top five construction & real estate industry deals of Q4 2019 tracked by GlobalData were:
- Sunac Southwest Real Estate Development (Group)'s $2.17bn acquisition of Chengdu Global Century Exhibition; Travel Group and Chengdu Times Global Industrial
- The $1.12bn acquisition of China Merchants Property Management by AVIC Sunda Holding Limited
- Greentown Real Estate Group Limited's $515.66m acquisition of Shanghai Xinhu Real Estate Development
- The $494.7m acquisition of Hubei Daguangbei Expressway by Hubei Chutian Smart Communication and Hubei Transportation Investment Construction Group
- Shanghai Suzuan Investment Limited's acquisition of Shanghai Huayan Real Estate Development Limited for $352.19m.