China again declared its love for overseas real estate yesterday with developer Greenland Group agreeing to acquire a historic London site for a £600 million (US$984 million) development project. And in the same day, the developer announced that it would spend an additional £600 million to purchase a site along the city’s famed Canary Wharf.
‘No drugs and no being gay,’ Says China Property Papa
Perhaps not content with making obscene amounts of cash, China real estate tycoon and prominent micro-blogger Ren Zhiqiang seems to be on mission to find more ways to be offensive this week.
Only a few days after calling CCTV “the dumbest pig in the world,” for suggesting that the country’s property developers might not be paying their fair share of taxes, the chairman of Beijing-based Hua Yuan Real Estate Group set
Shanghai Tower Seeks Help to Lease Out 220k Sqm of Office Space
China’s state-run real estate developers might be getting more market-oriented, or it could be that someone in the Shanghai city government realises that leasing out 220,000 square metres of office space is not a matter to be lef to chance.
In any case, the state-owned developers of the Shanghai Tower, have announced that they are seeking leasing agents to help fill the building.
Booming Tech Firms Redrawing China’s Office Map
China’s tech industry has been growing at double-digit rates for many years now, and the expansion of the country’s technology giants has started to have an impact on the office real estate market.
Examining the effect of the industry on Beijing’s Zhongguancun, a centre for high-tech firms, the Wall Street Journal finds that,
Developer Evergrande 2013 Sales Hit RMB 100.4 Billion
China’s Evergrande Real Estate became the third of the country’s major developers to declare 2013 sales in excess of RMB 100 billion this week, when the Hong Kong-listed company announced revenues of RMB 100.4 billion.
The company, which last month announced plans for setting up joint venture hospitals in China with America’s Harvard University, is
Li Ka-shing Trust Opposes Hong Kong REIT Reform Plan
A REIT controlled by Hong Kong’s richest man, Li Ka-shing is bucking a Hong Kong government proposal that would widen the scope of activity for real estate investment trusts listed on the Hong Kong stock exchange.
Justin Chiu Kwok-hung, who heads Fortune REIT, a trust operated by Li’s Cheung Kong Holdings has stated that the proposal, which would allow REITs to engage in new project development may present too much risk.
China Vanke Sees Revenues Jump 15 Percent in 2013
It’s been known for some time that China’s real estate developers enjoyed a strong year in 2013. Now that the year is over, however, just how well some of theses property firms performed is becoming clearer.
Data provider China Real Estate Information Corp recently published figures showing that the number of developers with annual sales of more than 100 billion yuan rose to seven in 2013 — up from only three in 2012.
China’s Real Estate Market Predicted to Be Unpredictable in 2014
China’s real estate market performed beyond expectations in 2013, with most developers showing strong growth in sales and profits, and the majority of cities saw housing prices continuing to rise.
However, at least one China expert foresees such progress as harder to come by in 2014.
Xi’an Store Attracts Shoppers with RMB 50 Mil Yellow Brick Road
You’re not in Kansas anymore, it’s Shaanxi.
As malls proliferate across China, attracting shoppers to new stores is understandably getting mor challenging. So a new gold shop at a mall in Xi’an is using this precious metal to pull in those picky shoppers.
A reporter from China Radio International found that,
Taiwan Debates New Real Estate Taxes for Surging Market
It seems that the mainland is not the only Chinese place grappling with taxing real estate as Taiwan’s mushrooming housing market is forcing authorities there to look for measures to cool down housing prices.
According to a report in the China Post,
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