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• Case | HBS Case Collection | 2013 (Revised from original 2011 version)

  Sino-Ocean Land: Responding to Change

  Nicolas P. Retsinas, Jeffrey Hu and Runjiao Xu

  In 2010, Sino-Ocean Land Holdings Limited was a highly successful, large real estate developer based in Beijing, China. Sino-Ocean Land had three main business segments—property development, property investment/management, and other real estate related businesses. From 2005-2009, the company focused on becoming a leading regional developer with a multiproduct offering. That strategy was successful, riding the wave of spectacular growth in the Chinese real estate sector from 1998-2008, following a loosening of Chinese state real estate regulations. Although Sino-Ocean Land had gone public in 2007, its key shareholders were still state owned enterprises. The state maintained significant influence on the company and the real estate market, in general. The case explores the interactions between the company and the state, examining land acquisition, financing, and corporate governance. Following the global financial crisis of 2008, Sino-Ocean Land must devise a new five year strategic plan. CEO Li Ming must grapple with the changing market dynamics and regulatory environment to decide the best course for the company. Key issues that he must determine are: whether the focus should be local or national; whether to continue with multiproduct offerings, or specialize in one product type; and whether to continue to pursue primarily development, or to shift to property investment and holding.

  Keywords: History; Strategic Planning; Financial Management; Policy; Property; State Ownership; Financial Crisis; Diversification; Globalization; Business Strategy; Banks and Banking; Real Estate Industry; Beijing;

  Citation:

  Retsinas, Nicolas P., Jeffrey Hu, and Runjiao Xu. "Sino-Ocean Land: Responding to Change." Harvard Business School Case 211-107, February 2013. (Revised from original June 2011 version.)

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• Case | HBS Case Collection | 2013

  Hudson Yards—The Other Side of the Tracks?

  Christopher M. Gordon, A. Eugene Kohn, John D. Macomber and Lisa Strope

  Stephan Ross, CEO of Related Companies, is considering an opportunity to invest $1 billion for the air rights over the Hudson Rail Yards in New York City. The investment would allow Related to build a platform over the operating rail tracks and develop this blighted edge of New York City into one of the top tier places to live, work and shop in the world.

  Keywords: real estate; Property; Growth and Development Strategy; Urban Development; Real Estate Industry; New York (city, NY);

  Citation:

  Gordon, Christopher M., A. Eugene Kohn, John D. Macomber, and Lisa Strope. "Hudson Yards—The Other Side of the Tracks?" Harvard Business School Case 213-040, January 2013.

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• Case | HBS Case Collection | 2012

  Residencial Los Andes

  Nicolas P. Retsinas, Lisa Strope, Nicolas P. Retsinas and Lisa Strope

  Peninsula Investment Group is deciding wether or not to recapitalize an equity investment in a Residencial Los Andes, a residential project in Santiago, Chile, or take a substantial loss. The project did not met its sales goals and the bank pressured the investors to liquidate the construction loan. Early on, Peninsula had identified Chile a target market, however, in investing in Residencial Los Andes, it had made several exceptions to its investment strategy. The case addresses what went wrong in the evolution of the project, what measures need to be taken if Peninsula did increase its capital committment.

  Keywords: real estate; emerging market; Latin America; finance; investment management; Management; Negotiation; Finance; Entrepreneurship; Real Estate Industry; Latin America;

  Citation:

  Retsinas, Nicolas P., and Lisa Strope. "Residencial Los Andes." Harvard Business School Case 213-074, December 2012.

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