Here is a list of the day’s latest China real estate news collected from around the web:
Soho China, the Beijing-based real estate developer led by billionaire couple… Read More>>
Wang Jianlin of Wanda is Now China’s Richest Billionaire
Wang Jianlin, owner of China’s biggest commercial land developer, is the nation’s wealthiest person, based on regulatory filings that show his non-real estate businesses are more valuable than previously calculated. The chair of closely held conglomerate Dalian Wanda Group, which became the world’s largest movie theatre chain after acquiring AMC Entertainment last year for $2.6 billion, has a net worth of $14.2 billion, according to the Bloomberg Billionaires Index. Read More>>
Longfor Sees Profit Jump to RMB 3.85 Bil
Longfor Properties said net attributable profit rose slightly to 3.85 billion yuan, in the first half of this year and was cautiously optimistic about prospects for the sector despite government attempts to rein in property prices. In the year earlier period, the mainland based property developer and investor announced a 3.81 billion yuan profit. Read More>>
Penthouse deal shows Shanghai luxury home prices approaching HK levels
The price gap between luxury homes in Hong Kong and Shanghai is expected to continue narrowing, fuelled by growing demand from the wealthy at home and abroad.
With Beijing announcing last month its landmark plan to create a free-trade zone in Shanghai, property consultants believes prices in the city are fast catching up with Hong Kong’s.
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Blackstone to Acquire Hong Kong Real Estate Developer for $322 Mil
Only a few weeks after holding a first close, Blackstone’s Real Estate Partners Asia fund has already started acquiring property companies in Asia, as Hong Kong-listed Tysan Holdings announced yesterday that it had received an offer of HK$2.5 billion (US$322… Read More>>
Ground Broken for 111-Storey Pearl of the North Tower in Shenyang
Construction began on Friday for the US$1.5 billion Pearl of the North skyscraper project in the northern China city of Shenyang.
As the latest entrant into what seems to be an intramural contest among Chinese cities to thrust supertall buildings… Read More>>
China May Introduce New Property Policies in October
China may announce a long-term property policy plus a home-purchase tax in October.
State-owned investment house China International Capital Corporation warns heavy economic development reliance on land transactions will harm economic productivity in the long run.
The central government may announce a long-term mechanism to stabilize the property market in October, China Business Journal reported.
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Gemdale in $1.27b deal for six mainland projects
Gemdale Properties and Investment Corp (0535) yesterday said it has purchased six projects from its parent for HK$1.27 billion.
The six sites in five cities – Shenyang, Xian, Ningbo, Tianjin and Beijing – have a combined gross floor area of 1.5 million square meters and will be developed into residential properties.
The purchase price will be paid in shares to the parent company, Gemdale Corp.
Each share will be issued at 96 HK cents, or a discount of 9.43percent to Friday’s closing price.
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Housing Boosts SouFun Share Price
Chinese real-estate companies advanced in New York after the biggest increase in new home prices since 2011 boosted the industry’s outlook. Huaneng Power International Inc. (HNP) tumbled the most in four years.
The Bloomberg China-US Equity Index of the most-traded Chinese stocks in the U.S. was little changed at 96.4 yesterday as 24 companies rose and 29 fell. SouFun Holdings Ltd. (SFUN), China’s biggest property market information website, jumped 11 percent.
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The Mingtiandi Roadmap – Reader Survey Results
China’s real estate community has spoken, and it wants more investment transaction data.
Last week I launched the first Mingtiandi reader survey to find out what you – the readers of this site thought would be the most useful new… Read More>>
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