Shanghai June land sales to exceed $32.4b – and more of Today’s China Real Estate Links | June 28, 2013

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

• Shanghai June land sales to exceed $32.4b

  Land sales in Shanghai are likely to exceed 20 billion yuan ($32.4 billion) in June, which may rank as the highest monthly value in nearly three years, latest data showed.

  As of yesterday, about 385,000 square meters of parcels, excluding those designated for relocated residents under urbanization programs, had been sold this month for about 12.67 billion yuan, Century 21 China Real Estate said in a report released yesterday.

• China’s industrial profits pick up in May

  China’s industrial enterprises registered strong profit growth in May, offering an uptick sign for the world’s second largest economy which has slowed for quarters.

  Major Chinese industrial firms, or those with annual revenues of more than 20 million yuan (3.22 million U.S. dollars), saw profits surge 15.5 percent year on year to reach 470.55 billion yuan last month, the National Bureau of Statistics (NBS) said in a statement.

• Tishman Speyer and China Vanke Break Ground on US Condo Project

  Tishman Speyer and China Vanke today unveiled LUMINA, San Francisco’s newest large-scale luxury condominium project, located at Main and Folsom Streets. Designed by the award-winning Bernardo Fort-Brescia of Arquitectonica, LUMINA is a community of 655 luxury condominium residences with retail and parking where SOMA meets the waterfront.

  LUMINA is the only luxury, large-scale condominium project breaking ground in San Francisco during 2013. Construction is set to begin immediately with the sales center opening in summer of 2014.

• China’s emerging cities primed for retail growth says CBRE

  China’s Tier 2 cities have a high potential for retail sector growth, says a report released by global research and consulting firm CBRE.

  The 2013 edition of ‘How Global is the Business of Retail?’ takes a comprehensive view of new retail entries across 60 countries and 208 cities of the world.

  For the first time, under ‘Retailer Representation – Depth of Coverage at City Level’, the report also examines the extent to which retailers have developed their store portfolios within cities to provide a better understanding of potential growth markets for retailers.

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