Here is a list of the day’s latest China real estate news collected from around the web:
Country Garden is aiming for growth of 30 per cent in contract sales this year, and is banking on increasing urbanisation on the mainland and demand from end-users to achieve that goal.
The Guangdong-based developer’s contract sales by value rose 10 per cent to 47.6 billion yuan (HK$58.8 billion) last year. Contract sales by gross floor area grew 11 per cent to 7.64 million square metres.
Beijing is planning to build a new airport in its southern Daxing District, which borders Hebei Province, according to a press briefing held on Tuesday.
The new airport project was approved by the State Council and the Central Military Commission by the end of 2012, said Shao Heng, deputy chief of the government office of Daxing District, at a press conference focused on spurring the development of Beijing’s southern suburbs.
The new airport is expected to begin construction in 2014, while preparations are underway, Shao said.
Mapletree Investments Pte Limited, a China-based real estate company, has broken ground on CNY5 billion ($ 0.79 billion) mixed-use project called Mapletree Minhang Development Project in Minhang, Shanghai.
The Mapletree Minhang Development Project will be developed on a 119,000 square metre land, located in Xinzhuang business district in Minhang at the fringe of Shanghai’s central business district (CBD). It will offer superior connectivity to the Hongqiao airport and High Speed Rail Station.
Australia, the world’s biggest iron ore exporter, raised its price estimate for this year, expecting that an increase in steel consumption will boost imports from China, the largest buyer.
Prices will average $119 a metric ton in 2013, compared with a December estimate of $106, the Bureau of Resources and Energy Economics said in a report today, referring to rates at Australian ports. The country may ship 554 million tons of the steelmaking material in 2013, compared with 543 million tons estimated in December, and 488 million tons in 2012, it said.