Burberry to Buy Out Franchises in China

  • Burberry to Buy Out Franchises in China
    Morgan Stanley Real Estate Fund has sold the 284-unit Pinnacle Century Park adjacent to the Lujiazui financial district to JP Morgan Greater China Property Fund.
  • GM Builds Research Facility in Pudong
    GM have reportedly poured 2.5 billion USD into the new R&D center, which is located in the New Pudong area of Shanghai. The building, once completed, will house 2500 workers, and 300 of these workers will be directly involved in R&D.
  • Morgan Stanley Sells Shanghai Apartment Project
    Morgan Stanley Real Estate Fund has sold the 284-unit Pinnacle Century Park adjacent to the Lujiazui financial district to JP Morgan Greater China Property Fund.
  • 3G Phone Users Still Rising
    The mainland is expected to boast 60 million 3G users by the end of this year, a fourfold increase from last year's level.
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    Burberry to Buy Out Franchises in China
    July 19, 2010 11:00
     
    Burberry Group Plc will take control of its franchised stores in China for GBP70m (USD107.19m). The acquisition of stores and related assets from franchise partner Kwok Hang Holdings will add as much as GBP20m (USD30.62m) operating profit in the year through March 2012, the London-based company said in a statement. Under the new agreement, Burberry will take over the outlets' operational management, while existing franchisees will hold a 15% stake in their business.
     
     
    GM Builds Research Facility in Pudong
    July 20, 2010 12:51
     
    General Motors broke ground on a USD250m research facility in Shanghai. The GM China Advanced Technical Center in Pudong New Area will focus on advanced propulsion system research, battery cells, lightweight material research, petroleum alternatives and electrification technology. Construction will be completed by the end of 2011. Within five years, it is expected to have more than 300 employees.
     
     
    Morgan Stanley Sells Shanghai Apartment Project
    July 19, 2010 10:59
     
    US investment bank Morgan Stanley has sold its serviced apartment project in Pudong, Shanghai, for about Rmb1.2bn (USD0.18bn). Morgan Stanley Real Estate Fund has sold the 284-unit Pinnacle Century Park adjacent to the Lujiazui financial district to JP Morgan Greater China Property Fund. The price tag represents about Rmb26,000 (USD3,834.27) per sq m, against the cost of Rmb18,000 (USD2,654.32) per sq m that Morgan Stanley paid in 2006.
     
     
    3G Phone Users Still Rising
    July 15, 2010 13:23
     
    The number of 3G phone users on the Chinese mainland reached nearly 22 million by the end of May. New 3G users accounted for a quarter of the total number of new mobile phone users, the Ministry of Industry and Information Technology said. The mainland is expected to boast 60 million 3G users by the end of this year, a fourfold increase from last year's level. The popularity of 3G is set to grow due to lower prices and a bigger variety of models.
     
     
     
     
    Attributed by Shanghai Business Review