Here is a list of the day’s latest China real estate news collected from around the web:
The 2.4% rise in the stock price of Chinese real estate developer Logan Property on the first day of trading on Friday at the Hong Kong Stock Exchange on Friday has minted the country’s latest billionaire clan in the real estate industry.
A 85% stake in Logan Property Holdings, worth $1.17 billion on Friday, is held by companies and a family trust associated with Perenna Kei, a 24-year-old daughter of Logan’s chairman and CEO, Ji Haipeng, according to the company’s prospectus.
US retail giant Walmart is simultaneously closing loss-making stores and opening stores at new locations, which reflects its oscillating and miscalculated expansion policy in China.
A former Walmart executive, who wished to remain anonymous, said the company planned on shutting down 100 stores across China between 2013 and 2015. Meanwhile, the retail giant has announced that it will open 100 new stores in the country’s third- and fourth-tier cities over the next three years.
In the race to extract cash from Christmas shoppers, Hong Kong’s myriad shopping malls have taken to heart the maxim that you must spend money to make money when it comes to decorations this festive season.
From two-storey-high polar bears to giant Disney characters, the southern Chinese city is awash with increasingly elaborate displays as luxury outlets bid to outdo each other and get wealthy mainlanders through the door.”
China’s appetite for branded goods and services is rapidly expanding beyond personal consumption. The past year has seen Hong Kong and mainland outbound investment grow in size, frequency and sophistication. Whether to secure manufacturing expertise, to seed future global expansion or simply to participate in the upside of the domestic consumption story, Asian private capital in particular has been calibrating its investment strategies.
With a depth of heritage luxury brands, moderate valuations and lower regulatory hurdles, Europe continues to lead with the largest acquisition activity. However, as the luxury sector continues to consolidate and desirable targets narrow, we will continue witnessing a shift toward American deal flow.
Despite stagnant rents, frothy valuations and an expected flood of new offices on the market, Shanghai is still a top destination for institutional investors looking to park money in Asian real estate.
According to a report published jointly by PricewaterhouseCoopers and U.S. research organization the Urban Land Institute, Shanghai ranked second out of 23 Asian cities in terms of investment prospects.
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