CPPIB’s Jimmy Phua has been on a buying streak in the last year
Leading today’s cruise through the news, Canada’s pensioners own 24 percent more of Asia now than they did a year ago, and Wang Jianlin discovers that get big projects done in France might be even harder than in Spain (see Edificio Espana). And back in Beijing, the story of the crackdown on commercially titled condos just get curiouser and curiouser.
CPPIB Asia Portfolio Jumps 24% to $9.9B in Latest Fiscal Year
Canada Pension Plan Investment Board (CPPIB)’s Asian private equity portfolio increased by nearly a quarter to $9.9 billion (C$13.4 billion) for the 12-month period ended March 2017, as per a report in AVCJ.
The portfolio rose on the back of five direct investments and five fund commitments made by the country’s largest pension fund manager in the one-year period. Read more>>
Wanda’s Planned $3.4B Paris Project is Taking the Slow Road
The only thing moving in the broad expanse of wheat, colza, corn and beet fields near Paris is a half-empty city bus trundling along a brand-new road. Overhead, the ever-present noise of planes disrupts the calm.
This is the future home, local officials hope, of EuropaCity, a 3.1-billion euro ($3.4 billion) shopping and leisure complex being developed by grocery giant Auchan Holding SA and Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. Read more>>
Beijing Eases Ban on Sales of Commercial-Titled Condos
Beijing has lifted a ban prohibiting local property agencies from marketing and selling previously owned apartments built on land zoned for commercial or office use, bowing to public pressure following weekend protests from homeowners.
The Housing and Urban-rural Development Commission issued a statement on Tuesday evening saying that apartments purchased before March 26 can be listed and sold via local property agencies. Read more>>
Kwok Family London Project to Market Homes Starting at HK$3.39M
The Kwok family, controlling shareholders of Sun Hung Kai Properties, is to offer a £500 million (US$651.4 million) joint venture riverside residential project in East London at prices close to those being achieved at apartments in Hong Kong’s Sha Tau Kok frontier town.
The 804-unit Goodluck Hope, a 50-50 joint venture development between Kwok Family Interests (KFI) and Ballymore Group of Ireland, will offer its medium-end residential project for pre-sale in Hong Kong on June 16. Read more>>
Hebei City Rolls Out 10 Year Lock-In Period on Home Sales
A 10-year ban on housing transactions in Baoding City, North China’s Hebei Province, made the national headlines on Monday, following a series of moves nationwide to cool the property market.
Regarded by insiders as the toughest restriction on house purchases in China, the regulation requires buyers to hold properties for at least 10 years, the longest restricted period on property trade so far, after they receive a real estate certificate. Industrial analysts said it will be a caution for real estate investors, as there may be more similar measures on the land market in future. Read more>>
Country Garden Presses Ahead With Forest City Project Despite Sales Ban
Chinese developer Country Garden has been grabbing headlines – and attracting controversy – for its US$100 billion (S$139 billion) Forest City project in Johor.
It sent shock waves through the Johor property sector last year when it sold 16,000 units amid a perceived market downturn. That is nearly twice the total number of new private homes sold in Singapore last year. Read more>>
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