Housing sales slumped in Shenzhen and Shanghai after downpayments were hiked
Home sales fell sharply in two of China’s hottest property markets after local governments hiked downpayment rates, but not after the surge in the housing sector appears to have helped boost retail activity. Meanwhile, seemingly not content to with being the biggest landlord in the US, Blackstone is said to be negotiating the purchase of two office towers in Delhi. Read on for all of today’s headlines.
Shanghai, Shenzhen Home Sales Fall After Downpayment Hike
Home sales in the red-hot property markets of Shanghai and Shenzhen tumbled sharply in the week after authorities made it tougher to buy homes in the cities to prevent a property bubble, surveys by a major Chinese realtor showed.
After Shenzhen and Shanghai property prices had jumped 57 percent and 20.6 percent in February from a year earlier, local governments tightened down payment requirements for second homes and raised the eligibility bar for non-residents to buy in the cities. Read more>>
Blackstone in Talks to Acquire Two Delhi Office Towers
American PE fund Blackstone is in talks to acquire two commercial office towers in central Delhi from Parsvnath Developers and PE fund Red Fort Capital for Rs 550 crore, said two people with knowledge of the development.
The two towers on Bhai Veer Singh Marg, which is near Connaught Place, have around 300,000 sq ft of space, much of which has been leased to the likes of SBI, AXIS Bank, Aditya Birla Group and Regus. Read more>>
Recovering Housing Market Boosts China Wealth Index
Chinese household sentiment rebounded in March, helped by the country’s recent economic stabilization and a booming property market, according to a survey released yesterday.
The China Wealth Index, which is produced every two months by the Bank of Communications and research firm Nielsen, rose 7 points from January to 126 in March. Read more>>
HK Developer Sees Opportunities in Senior Housing Sector
Being one of the oldest property developers in Hong Kong, Hip Shing Hong has been always thinking how to move forward.
From a commercial property investment company founded 68 years ago, Hip Shing Hong extended its reach to the services apartment sector a decade ago. A few years later, the company has diversified into the hotel industry, building and operating luxury boutique hotels in the city’s urban areas. Read more>>
Mainland Developer Plans to Open London Casino
Marketing plans aimed at attracting Asian gamblers continue to unfold at casinos around the world.
Landing International Development Ltd. has scheduled a special April 27 meeting to get shareholder approval for the acquisition of Les Ambassadeurs Club and Casino, a high-end operation in London.
Landing International said in December it had a deal worth $192.7 million) to acquire all the shares in the company controlling Les Ambassadeurs. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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