Here is a list of the day’s latest China real estate news collected from around the web:
Alpha Investment Partners, a Singapore-based property fund, is planning to buy a Shanghai mall-and-office project from a Morgan Stanley-managed (MS) real-estate fund for 3.3 billion Chinese yuan ($529.5 million), a person with knowledge of the matter said.
This is within Morgan Stanley’s target price range of CNY3 billion-3.5 billion, when its Life Hub @ Jinqiao property was first placed on the market in the middle of this year.
Investments into Chinese real estate are seeing a rebound while newer “frontier” markets such as Indonesia also witness an upshot in interest, according to figures and report by the Urban Land Institute (ULI) and PwC. Positive sentiment for Hong Kong, on the other hand, is less pronounced.
Driven by a quest for high yields, institutional investors have turned their appetite to opportunities in more niche asset classes.
Home prices in major cities increased for the sixth consecutive month in November amid rising market expectations.
The China Index Academy, a property research body, reported on Monday the average price of new homes in 100 monitored cities increased 0.26 percent monthly in November to 8,791 yuan ($1,395) per square meter. A rise of 0.17 percent was recorded in October.
China’s new home prices rose the most in four months as smaller developers marketed more projects amid interest from buyers concerned that prices will start rising again.
Prices climbed for a sixth month, increasing 0.26 percent to 8,791 yuan ($1,412) per square meter in November from October, SouFun Holdings Ltd. (SFUN), the country’s biggest real estate website owner, said in an e-mailed statement today, based on its survey of 100 cities.
What comes next for China’s ambitious Dalian Wanda Group, one of the country’s largest entertainment and commercial real estate companies? Fresh on the heels of its September $2.6 billion acquisition of AMC Entertainment, the Beijing-based private company plans to buy a British business early next year (more details to come on whether it will be in entertainment, hotels, or retail). And it may sign an agreement with a Hollywood studio in the first half of 2013, says 58-year-old chairman Wang Jianlin, in an interview in his expansive office at company headquarters in east Beijing.