Li Ka-shing thinks now might not be the best time to buy Hong Kong housing
China’s spring festival is still weeks away, but there are signs that the region’s real estate markets may be in for a longer than expected winter as Hong Kong’s richest man warns investors against speculating in the city’s real estate markets. Also, in the news, another famous billionaire, Wang Jianlin, is continuing his campaign to sell overseas holdings, with apparent plans for a $500 million IPO of sports-related holdings and down in Sydney, one of the city’s poshest mansions is now in the hands of 17-year-old from the mainland. Read on for all these stories and more from around the region.
Li Ka-shing Warns on Buying HK Homes
Hong Kong’s richest man, Li Ka-shing, said on Friday that the world faces slower economic growth and warned against speculation in the city’s property market.
“This year, the world economy will probably be very complicated. Everyone should be cautious,” said Li, who retired last year, aged 90, as chairman of CK Asset Holdings and CK Hutchison Group. Read more>>
Wanda Files for $500M US IPO of Sports Holdings
It was the best Christmas present a teenager could hope for – a Sydney mansion worth a whopping $17.5 million.
And it now leaves one of the country’s most stunning historic homes in the hands of a young man still not yet old enough to buy alcohol, get a tattoo without his parents’ permission or even to apply for credit to purchase his own house. Read more>>
Chinese Teen Now Owns A$17.5M Sydney Mansion
It was the best Christmas present a teenager could hope for – a Sydney mansion worth a whopping $17.5 million.
And it now leaves one of the country’s most stunning historic homes in the hands of a young man still not yet old enough to buy alcohol, get a tattoo without his parents’ permission or even to apply for credit to purchase his own house. Read more>>
China NDRC Extends Bond Funding Window for 56 Favoured Firms
China’s central economic planner has extended the validity of foreign bond issuance quotas for another 56 Chinese companies by half a year, in a bid to ease funding constraints for the nation’s corporate sector battered by a liquidity crisis.
The National Development and Reform Commission has given 56 companies until end-June to use their bond issuance quotas that would’ve expired last year, according to a document seen by Bloomberg. This follows a similar move by the regulator for 33 separate companies. The NDRC didn’t immediately reply to a fax from Bloomberg seeking comment on the issuance quotas. Read more>>
Ascendas Singbridge Plans to Double India Portfolio
Ascendas Singbridge, the largest foreign real estate developer in India, plans to develop 16 million square feet office space in next three to four years to double the space owned and operated by it in the country, a top official said on Thursday.
The Singapore-based company, whose core business is development of IT parks, has lately diversified into logistics parks and data centres and is also entering into co-working spaces, said Ascendas Singbridge’s Chief Executive Officer, India Operations, Vinarma Srivastava. Read more>>
China Vanke Plans to Launch First Malaysia Project in 2019
China Vanke Co Ltd, the China’s second-largest developer by sales, is eyeing the launch of its first mixed development in Malaysia this year with an estimated GDV of RM5 billion.
Vanke Holdings (Malaysia) Sdn Bhd managing director Lang Cong said the multi-billion development which consists of residential, retail and commercial elements is now pending approval from the authorities. Read more>>
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