Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Wanda Aims to Be World’s Largest Tourism Enterprise by 2020
Dalian Wanda Group, China’s biggest commercial property developer, plans to surpass Disney’s amusement park division as the world’s largest tourism enterprise with annual visitors of more than 200 million and annual tourism income exceeding 100 billion yuan (US$16.1 billion) in 2020, Beijing-based Caixin Online reports, citing Wanda chair Wang Jianlin.
Malaysia’s Johor State Confines Foreign Projects to Special Zones
Several waterfront development areas along the coastal line of Iskandar Malayisa will be designated as international zones for housing development projects.
Mentri Besar Datuk Mohamed Khaled Nordin said the move would address fears among locals of foreigners snapping up all available properties in the economic growth region.
More Euro-Bonds Could Be On Way for China’s Real Estate Developers
Low bond rates in Europe and a stronger US dollar has prompted mainland China’s leading developer China Overseas Land & Investment (COLI) to become the first mainland developer to tap the European debt market, and analysts feel other leading property players could follow although smaller developers may refrain from trying this route.
Can All Chinese Debt Be Rated Top Quality?
In China, Evergrande Real Estate Group Ltd.’s domestic bonds are seen as among the safest bonds going.
Overseas, however, the company’s more than $3 billion in debt, denominated in both dollars and yuan, is rated below investment grade, or what is commonly called junk.
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for more news as it happens.
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