News Snapshot:
The collapse of Blackstone Group’s US$3.06 billion deal for Soho China, known for the Leeza Soho and other office buildings that give Beijing its futuristic skyline, comes at a fraught time for China’s real estate industry and could raise questions about how attractive the sector remains for foreign investment, particularly as China places greater scrutiny on foreign deals, according to market observers. Commercial rents dropped by 1.5 per cent in Beijing in the first half of the year and are expected to drop by another 3 per cent by the end of this year – all whilst China’s economy grew...
