Woman buys US$6.5m Manhattan apartment – for two-year-old daughter – and more of Today’s China Real Estate Links | March 28, 2013

Here is a list of the day’s latest China real estate news collected from around the web:

• Woman buys US$6.5m Manhattan apartment – for two-year-old daughter

  A Chinese mother bought a US$6.5 million apartment in Manhattan for her two-year-old daughter to live in while studying at Columbia University state-owned CCTV reported on Monday.

  The woman completed the transaction at the beginning of last year, according to Kevin Brown, a real estate agent in New York who closed the deal for her.

  He said the woman told him her daughter would be going to Columbia University, New York University or maybe Harvard in the future.

• Mainland sales to hike target for developer Wharf

  Wharf Holdings (0004) raised its full-year target for mainland sales by 33 percent to 20 billion yuan (HK$24.97 billion) this year due to China’s rapid urbanization and the confidence it has in local partners.

  The developer’s core earnings jumped 37 percent to a record HK$11 billion last year, better than the estimated HK$10 billion. Net profit, including fair value of property investment and investment capital in Greentown China (3900), surged 55 percent from 2011 to HK$47 billion, or HK$15.6 per share. It declared a second interim dividend of HK$1.20.

• China Developers Look Abroad—for Chinese Buyers

  When Zhang Yuliang’s property company struck a deal to buy and develop a residential and hotel building in downtown Sydney, he had Chinese customers in mind.

  “The number of rich Chinese who invest abroad, who are employed abroad, is huge. And the number is becoming bigger,” he said.

  Mr. Zhang’s Shanghai-based Greenland Group earlier this month said it bought the project from Canadian firm Brookfield Asset Management Inc. BAM.A.T -0.22% for 107.5 million Australian dollars (US$111.4 million). “

• Guangdong’s guidelines on property get mixed response

  Guangdong became the first province in the country to release guidelines on strict implementation of property tightening measures but an analyst yesterday called the guide “too mild and lacking concrete contents.”

  In a statement posted on its official website on Monday, the provincial government said Guangzhou, Shenzhen, Foshan and Zhuhai must continue to enforce curbs on home purchases vigorously while Guangzhou and Shenzhen should also report their 2013 targets to control housing prices by the end of this month.

This list is updated daily, so tune in again tomorrow for more up to date information.