Forterra Trust to sell Shanghai Central Plaza for US$266.7 Mil – and more of Today’s China Real Estate Links | April 11, 2013

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

• Forterra Trust to sell Shanghai Central Plaza for US$266.7 Mil

  Singapore-listed Forterra Real Estate, as the trustee-manager of Forterra Trust (formerly Treasury China Trust), has made a conditional share purchase agreement (SPA) for the sale of Central Plaza for US$266.73 million, reflecting an increase in the net asset value per unit (NAV) of nine cents to S$4.53 per unit for the Trust.

  The expected net cash proceeds of US$127.34 million underpin the execution of the Trust’s strategy of providing all necessary resources, including financial, to ensure the successful completion of The HQ,

• JLL: No Oversupply of Shopping Malls in China

  News reports showing vast empty shopping malls in China don’t tell the whole story, according to a new report.

  China’s “consumer class” cities are growing at such at rapid rate, the new supply of shopping malls will be “readily absorbed” in the years ahead, according to Jones Lang LaSalle. In cities such as Shenyang, Wuhan, Chongqing, and Zhengzhou, the consumer class will actually grow faster than the supply of shopping malls between 2012 and 2015.

• Vanke’s sales soared 31.9% to 15.2b yuan in March

  China Vanke Co, the country’s largest property developer by market value, said on Monday that its sales in March reached 15.2 billion yuan ($2.45 billion), up 31.9 percent year-on-year.

  The company sold 1.27 million square meters of residential and commercial properties in March, up 15.7 percent year-on-year, it said.

• Major developers grab larger slice of China property market

  China’s major property developers are grabbing bigger market shares, and higher revenues from the market reshuffle brought about by tightening policies, according to the latest real estate industry statistics.

  In the first quarter, the nation’s top 10 property developers by sales revenue had a 14.88 percent market share, up from 14.28 percent a year ago, according to a report released on Tuesday by China Real Estate Information Corporation.

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