Shanghai Greenland Group Co., the developer building one of China’s tallest towers, is investing A$480 million ($498 million) in a redevelopment in Sydney, the latest among Chinese homebuilders venturing overseas.
Tishman Speyer Properties LP, the owner of New York’s Rockefeller Center, wants more deals with China Vanke Co. after partnering with the nation’s biggest developer on its first foray into the U.S. real estate market.
Commercial real estate developments by builders based in China are becoming more competitive with those by such overseas competitors as Tishman Speyer Properties LP, the company’s co-chief executive officer said today.
Rising risks, including an eventual increase in interest rates, are leading commercial-property investors to borrow less and expect lower returns, said real estate executives including Rob Speyer and Richard J. Mack.
Frank Fudem, a San Francisco broker for office tenants, realized that rents in the city were about to spike as Twitter Inc. agreed to move to a gritty neighborhood and leasing by technology companies started to accelerate.
Tishman Speyer Properties LP plans to build a San Francisco office building without having a signed tenant, the city’s first speculative project since 2006, as demand for space surges amid growth at technology companies.
New York businesses, unions and other organizations spent a record $220 million on lobbying last year, with a business-backed group that supports Governor Andrew Cuomo’s agenda topping the list, a report shows.
Tishman Speyer Properties LP raised 1.2 billion yuan ($190 million) from Chinese investors for a real estate fund that will develop a two-tower, mixed-use project in Suzhou as the local economy expands.