Chinese Developer Oceanwide Buys LA Project for $200 Mil

Here is a list of the day’s latest China real estate news collected from around the web:

Chinese Developer Oceanwide Buys LA Project for $200 Mil

China-based developer Oceanwide Real Estate Group said on Friday that it is entering the US property market with the planned $200 million buyout of a property project in California.

The developer said it would purchase the Fig Central project in downtown Los Angeles, opposite to the LA Lakers’ home stadium Staples Center, through a fully owned subsidiary in Hong Kong.
Chairman Mao’s Shanghai Home Reopens in Luxury Mall

Mao Zedong’s former Shanghai residence, a two-storey house where the Communist revolutionary lived nearly a century ago, is to reopen – in the middle of a luxury shopping complex.

A 26-year-old Mao spent three months living on what is now called Anyi Road after arriving in the Chinese port city in early 1920.

Making sense of property tax proposal

Property tax has become a hot topic of discussion in the Chinese media after figuring in the Decisions on Major Issues Concerning Comprehensively Deepening Reforms, issued by the Third Plenary Session of the 18th Communist Party of China Central Committee as a blueprint for reforms.

China has implemented many tax reforms in the past three decades but none has attracted as much public attention as property tax.

News Leaflet Drop Seeks Homes for Asian Investors

A real estate agency that deals with Asian-based investors is scouring Auckland and the upper North Island for properties to keep up with the demand from potential buyers.

Property Asia Realty has begun a huge sales pitch with a letter-drop in all Auckland regions ahead of the Chinese New Year, when they expect an influx of Chinese visitors.

Blast Rips Through Sichuan Shopping Mall

A blast ripped through a shopping mall in downtown Luzhou City in southwest China’s Sichuan Province on Thursday night, local authorities said.

It is not immediately known whether the blast has caused any casualties. Firefighters and ambulances have already rushed to the scene.

Photos posted on the Twitter-like service Sina weibo show a person carried in a stretcher, smoke billowing from a building and a section of road littered with shattered glass.

This list is updated daily, so tune in again tomorrow for more up to date information.