Asia Pacific real estate investment news and information
It’s virtually impossible for major Chinese cities to meet their housing price control target set for 2013, experts say.
The prices of newly built housing in the four first-tier cities, namely Beijing, Shanghai, Shenzhen and Guangzhou, kept a 20 percent growth rate from September to November, according to statistics published by National Bureau of Statistics.
Poly Real Estate Group, China’s second-largest property developer by market value, announced on Thursday that its net profits for 2013 surged 27.63 percent year on year to 10.77 billion yuan (1.77 billion U.S. dollars).
The company’s business income rose 34 percent from one year earlier to 92.33 billion yuan last year, it said in a report filed to the Shanghai Stock Exchange.
Record revenues from land sales last year were a mixed blessing for heavily indebted local governments on the mainland.
They worry the central government will be provoked to launch a fresh round of curbs to prevent overheating of the property market.
Greenland Hong Kong Holdings Ltd. (337), a real estate unit of Chinese state-owned Greenland Holding Group Co., said it may create a venture to develop land it bought in Shanghai last month for 5.95 billion yuan ($983 million).
The company is in talks with a “reputable property developer” in China for the investment, according to a Hong Kong stock exchange filing yesterday.
As foreign developers have raced to participate in the Chinese growth miracle, few have been more aggressive than Tishman Speyer Properties LP, which has invested some $3 billion since 2006.
Now as the Chinese economy appears to be cooling and some analysts warn of vacancies in so-called ghost cities, Tishman Speyer shows no sign of retreat.
China’s Greenland Holding Group could complete its domestic listing by the first half of this year, its chairman said on Friday.
Such a move—which would require government approval—could make the acquisitive state-controlled company the first property developer to list on mainland China since 2010.
Chinese investors are not just buying overseas property, they’re also piling into trust listings of real estate overseas.
OUE Ltd.LJ3.SG 0.00%, the Singapore-listed property firm that is set to start taking orders Monday for the initial public offering of its commercial assets in China and Singapore, has sold close to half of the nearly US$300 million deal to cornerstone investors—of which Chinese buyers make up a big part.
China will set up a bureau for real estate registration to facilitate property management reform, China’s top land and resources regulator said on Saturday.
The establishment of the bureau is designed to improve unified system design for registration as China will spell out related regulations this year, Xu Deming, vice minister of land and resources said at a work-planning meeting.
