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More info on Tujia and its competitor Airbnb...

Tujia valued at more than US$1 bil after funding from CapitaLand, other investors

HONG KONG (Aug 3): Tujia.com has raised US$300 million ($412 million) at a valuation of more than US$1 billion, as the Chinese vacation rentals site often compared with Airbnb Inc. pursues financing to bankroll a global expansion.

The Ascott Ltd, a serviced residence business owned by Singapore-listed CapitaLand ( Financial Dashboard), will inject US$50 million. The Ascott will also form a US$40 million joint venture with Tujia to operate serviced apartments in China. CapitaLand, Southeast Asia's largest property developer, aims to add 6,000 new units in China by 2020, up from the 14,000 it owns there now.

Chinese firm All-Stars Investment Ltd., which also backs smartphone maker Xiaomi, led Tujia's latest financing round, the startup said on Monday.

Tujia, which means "home on a journey," is focusing on expanding its services into Asian destinations popular with Chinese travellers, Melissa Yang, the co-founder and chief technology officer, said in an interview. Tujia expects to list 400,000 to 500,000 properties for rent by year's end, from more than 300,000 now, she said.

"We are speeding up our expansion to meet the demands of Chinese tourists," Ms Yang said Monday by phone. "Southeast Asia is a destination favoured by Chinese tourists and so that's an area of focus for us."

Its main target markets include Thailand, Indonesia, South Korea, Taiwan and Hong Kong, though the startup already connects homeowners with vacationers as far afield as Paris and Los Angeles.

While the startup is expanding, the Chinese economy is projected to grow at its slowest pace in a quarter-century. Yang said any slowdown would actually help the business by encouraging homeowners to list their properties in order to earn additional income. Travellers would also tend to seek cheaper alternatives to hotels, she said.

Tujia, which is backed by investors including HomeAway Inc., Ctrip.com International Ltd., LightSpeed Venture Partners and GGV Capital, has undergone three previous rounds of financing.

The startup often draws comparisons with Airbnb, the service that helped foster what's now referred to as "the sharing economy."

Tujia will be adding a new service that links users directly with homeowners, Ms Yang said, drawing it still closer to its US counterpart. In the past, the majority of the Chinese company's listings had been managed either by itself or third- party companies, instead of homeowners.

Tujia and its peers now face regulatory uncertainty around the world, as local interests consider the effect of on-demand services on traditional industries from taxis to hotels.

Unlike Airbnb, which in the US has drawn the attention of New York enforcement agencies for not paying hotel occupancy taxes, Tujia has so far remained relatively free of regulatory tangles. It collects the money and pays hotel levies as well as taxes on the rental income on behalf of property owners.

It also differs from its American counterpart in that it offers a range of ancillary services, from property management and inspections of listings to clean-ups after guests leave.

Ms Yang said the senior Chinese leadership has expressed support for new online businesses, including online vacation rentals.
http://www.theedgemarkets.com/sg/article...-investors
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Risk takers... salute

CapitaLand in 8th housing project in Vietnam

Published
2 hours ago
  [/url]
[url=http://www.straitstimes.com/authors/chong-koh-ping]Chong Koh Ping


A unit of local property giant CapitaLand has entered into a joint venture with a Vietnamese company to develop a prime residential site in Ho Chi Minh City.
The US$55 million (S$76.7 million) project will be CapitaLand's sixth residential project in the city, and its eighth in Vietnam.
CapitaLand Vietnam will work with Saigon Commercial & Tourism Corporation, a subsidiary company of Thanh Nien Corporation, to develop the site in a major expatriate area - Thao Dien ward in District 2.

There are plans to develop a 1ha residential development with about 350 units.
The development is pending regulatory approval.
CapitaLand will hold an 80 per cent stake in the venture and Thanh Nien will hold the rest.
Reply
(28-10-2015, 07:13 AM)greengiraffe Wrote: Risk takers... salute

CapitaLand in 8th housing project in Vietnam

Published
2 hours ago
  [/url]
[url=http://www.straitstimes.com/authors/chong-koh-ping]Chong Koh Ping


A unit of local property giant CapitaLand has entered into a joint venture with a Vietnamese company to develop a prime residential site in Ho Chi Minh City.
The US$55 million (S$76.7 million) project will be CapitaLand's sixth residential project in the city, and its eighth in Vietnam.
CapitaLand Vietnam will work with Saigon Commercial & Tourism Corporation, a subsidiary company of Thanh Nien Corporation, to develop the site in a major expatriate area - Thao Dien ward in District 2.

There are plans to develop a 1ha residential development with about 350 units.
The development is pending regulatory approval.
CapitaLand will hold an 80 per cent stake in the venture and Thanh Nien will hold the rest.

Well, IMO, CapitaLand seems at a right place and right time in Vietnam now Big Grin

(not vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
(28-10-2015, 09:59 AM)CityFarmer Wrote:
(28-10-2015, 07:13 AM)greengiraffe Wrote: Risk takers... salute

CapitaLand in 8th housing project in Vietnam

Published
2 hours ago
  [/url]
[url=http://www.straitstimes.com/authors/chong-koh-ping]Chong Koh Ping


A unit of local property giant CapitaLand has entered into a joint venture with a Vietnamese company to develop a prime residential site in Ho Chi Minh City.
The US$55 million (S$76.7 million) project will be CapitaLand's sixth residential project in the city, and its eighth in Vietnam.
CapitaLand Vietnam will work with Saigon Commercial & Tourism Corporation, a subsidiary company of Thanh Nien Corporation, to develop the site in a major expatriate area - Thao Dien ward in District 2.

There are plans to develop a 1ha residential development with about 350 units.
The development is pending regulatory approval.
CapitaLand will hold an 80 per cent stake in the venture and Thanh Nien will hold the rest.

Well, IMO, CapitaLand seems at a right place and right time in Vietnam now Big Grin

(not vested)

In hind sight, they are out at the right place the wrong time Down Under...
Reply
many local property developers seem to be setting foot in Vietnam, compared to us amateurs, I choose to trust their vision...
Reply
(28-10-2015, 10:14 AM)greengiraffe Wrote:
(28-10-2015, 09:59 AM)CityFarmer Wrote:
(28-10-2015, 07:13 AM)greengiraffe Wrote: Risk takers... salute

CapitaLand in 8th housing project in Vietnam

Published
2 hours ago
  [/url]
[url=http://www.straitstimes.com/authors/chong-koh-ping]Chong Koh Ping


A unit of local property giant CapitaLand has entered into a joint venture with a Vietnamese company to develop a prime residential site in Ho Chi Minh City.
The US$55 million (S$76.7 million) project will be CapitaLand's sixth residential project in the city, and its eighth in Vietnam.
CapitaLand Vietnam will work with Saigon Commercial & Tourism Corporation, a subsidiary company of Thanh Nien Corporation, to develop the site in a major expatriate area - Thao Dien ward in District 2.

There are plans to develop a 1ha residential development with about 350 units.
The development is pending regulatory approval.
CapitaLand will hold an 80 per cent stake in the venture and Thanh Nien will hold the rest.

Well, IMO, CapitaLand seems at a right place and right time in Vietnam now Big Grin

(not vested)

In hind sight, they are out at the right place the wrong time Down Under...

I was "accused" by my friend on a divestment, in a "wrong time", when the market price appreciated about 20%, after that. It is part of my capital recycle exercises, and the capital was re-invested into a new investment, which has given me the return much more than the 20% "loses".

I learned, that the opportunity cost, is a real and important cost of consideration in investment.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
(28-10-2015, 10:29 AM)CityFarmer Wrote:
(28-10-2015, 10:14 AM)greengiraffe Wrote:
(28-10-2015, 09:59 AM)CityFarmer Wrote:
(28-10-2015, 07:13 AM)greengiraffe Wrote: Risk takers... salute

CapitaLand in 8th housing project in Vietnam

Published
2 hours ago
  [/url]
[url=http://www.straitstimes.com/authors/chong-koh-ping]Chong Koh Ping


A unit of local property giant CapitaLand has entered into a joint venture with a Vietnamese company to develop a prime residential site in Ho Chi Minh City.
The US$55 million (S$76.7 million) project will be CapitaLand's sixth residential project in the city, and its eighth in Vietnam.
CapitaLand Vietnam will work with Saigon Commercial & Tourism Corporation, a subsidiary company of Thanh Nien Corporation, to develop the site in a major expatriate area - Thao Dien ward in District 2.

There are plans to develop a 1ha residential development with about 350 units.
The development is pending regulatory approval.
CapitaLand will hold an 80 per cent stake in the venture and Thanh Nien will hold the rest.

Well, IMO, CapitaLand seems at a right place and right time in Vietnam now Big Grin

(not vested)

In hind sight, they are out at the right place the wrong time Down Under...

I was "accused" by my friend on a divestment, in a "wrong time", when the market price appreciated about 20%, after that. It is part of my capital recycle exercises, and the capital was re-invested into a new investment, which has given me the return much more than the 20% "loses".

I learned, that the opportunity cost, is a real and important cost of consideration in investment.

YMMV
Reply
http://www.straitstimes.com/business/pro...ia-sq-deal

But negotiations with other parties ongoing over sale of Marina Bay property: BlackRock
Rennie Whang

Singapore real estate giant CapitaLand says its negotiations to buy Asia Square Tower 1 are off.
However, the seller, BlackRock, has said negotiations with other potential buyers are continuing - so a deal may still be struck for the sale of the Marina Bay landmark.
Any such deal would be closely watched for a sign of where office capital values are.
Reply
Super salesman in Middle Kingdom when Chinese developers are scouting the world in droves?

http://www.straitstimes.com/business/one...ortunities


The Straits Times
One Belt, One Road, many opportunities, Business News & Top Stories - The Straits Times
Business News -Property giant CapitaLand is well- poised to ride on the new growth strategy that China is building around two of its ancient trading routes.. Read more atstraitstimes.com.
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ST: CapitaLand 'confident' about China properties

   Suzhou Centre is an integrated development comprising a shopping mall, luxury residences, four office towers and a hotel. CapitaLand co-owns the shopping mall and two of the office towers with Suzhou Industrial Park Jinji Lake Urban Development in a joint venture.PHOTO: CAPITALAND
Published
5 hours ago
  [/url]
It expects record home sales on mainland; business for its mall tenants has improved too
[url=http://www.straitstimes.com/authors/rennie-whang]Rennie Whang


A slowdown in Chinese economic growth has not fazed Singapore property developer CapitaLand, which expects record home sales for its mainland projects this year.
Tenants at its malls in China have been notching up improved sales of about 9 per cent year on year.
"We are still confident about China... The key thing underpinning our optimism in China is urbanisation trends and its large (population). Even at about 6 to 7 per cent economic growth, China has good prospects for real estate over the next 10 to 20 years," CapitaLand China chief executive Lucas Loh said. He was speaking on Monday at a presentation during a trip to visit some of its properties there.

China accounts for about $21.4 billion or 46 per cent of the group's total assets - more than the $17.4 billion or 37 per cent in Singapore.
The company is comfortable if this proportion goes up to 50 per cent, said president and group chief executive officer Lim Ming Yan....
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